The Cigna Group (NYSE:CI) CEO David Cordani Sells 26,527 Shares of Stock

The Cigna Group (NYSE:CI) CEO David Cordani sold 26,527 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $8,173,499.24. Following the completion of the transaction, the chief executive officer now directly owns 127,767 shares in the company, valued at $39,367,568.04. This trade represents a 17.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

The Cigna Group Trading Down 0.8 %

NYSE:CI opened at $308.90 on Wednesday. The stock has a 50-day simple moving average of $290.71 and a 200-day simple moving average of $318.11. The stock has a market cap of $85.92 billion, a P/E ratio of 25.24, a P/E/G ratio of 0.98 and a beta of 0.54. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same period in the previous year, the company earned $6.79 earnings per share. As a group, analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be paid a dividend of $1.51 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a yield of 1.96%. The Cigna Group’s dividend payout ratio is currently 49.35%.

Wall Street Analyst Weigh In

Several equities analysts have commented on CI shares. Stephens cut their price objective on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. StockNews.com raised The Cigna Group from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Truist Financial dropped their price target on The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. Sanford C. Bernstein downgraded The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price target on the stock. in a research report on Thursday, February 6th. Finally, Oppenheimer dropped their price target on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a research report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $372.31.

Institutional Trading of The Cigna Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. TCTC Holdings LLC acquired a new position in The Cigna Group during the 4th quarter worth approximately $25,000. Prospera Private Wealth LLC acquired a new position in The Cigna Group during the 3rd quarter worth approximately $37,000. Collier Financial acquired a new position in The Cigna Group during the 4th quarter worth approximately $32,000. ORG Wealth Partners LLC acquired a new stake in shares of The Cigna Group in the 4th quarter worth approximately $34,000. Finally, Harbor Capital Advisors Inc. acquired a new stake in shares of The Cigna Group in the 3rd quarter worth approximately $45,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

About The Cigna Group

The Cigna Group, together with its subsidiaries, provides insurance and related products and services in the United States. Its Evernorth Health Services segment provides a range of coordinated and point solution health services, including pharmacy benefits, home delivery pharmacy, specialty pharmacy, distribution, and care delivery and management solutions to health plans, employers, government organizations, and health care providers.