The Cigna Group (NYSE:CI) Insider Noelle K. Eder Sells 9,944 Shares of Stock

The Cigna Group (NYSE:CI) insider Noelle K. Eder sold 9,944 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the transaction, the insider now owns 13,406 shares in the company, valued at approximately $4,289,920. The trade was a 42.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

The Cigna Group Stock Performance

Shares of CI opened at $317.24 on Wednesday. The company has a market cap of $86.82 billion, a PE ratio of 25.92, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The stock has a 50-day moving average price of $294.70 and a 200-day moving average price of $317.14. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83.

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

The Cigna Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be paid a $1.51 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $6.04 annualized dividend and a yield of 1.90%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio is currently 49.35%.

Analyst Upgrades and Downgrades

Several research firms recently commented on CI. Piper Sandler restated an “overweight” rating and issued a $348.00 price target (down from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Oppenheimer dropped their target price on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a report on Friday, January 31st. Sanford C. Bernstein downgraded The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective for the company. in a research note on Thursday, February 6th. UBS Group decreased their target price on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Finally, Royal Bank of Canada set a $355.00 price objective on shares of The Cigna Group in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, The Cigna Group presently has an average rating of “Buy” and an average target price of $372.31.

Institutional Trading of The Cigna Group

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Swedbank AB boosted its stake in shares of The Cigna Group by 26.6% during the third quarter. Swedbank AB now owns 570,283 shares of the health services provider’s stock valued at $197,569,000 after purchasing an additional 119,681 shares during the period. Mesirow Financial Investment Management Inc. boosted its stake in shares of The Cigna Group by 5.9% during the third quarter. Mesirow Financial Investment Management Inc. now owns 2,497 shares of the health services provider’s stock valued at $866,000 after purchasing an additional 139 shares during the period. Sigma Planning Corp boosted its stake in shares of The Cigna Group by 44.5% during the third quarter. Sigma Planning Corp now owns 3,089 shares of the health services provider’s stock valued at $1,070,000 after purchasing an additional 952 shares during the period. Ashton Thomas Securities LLC purchased a new stake in shares of The Cigna Group during the third quarter valued at approximately $563,000. Finally, Peregrine Asset Advisers Inc. boosted its stake in shares of The Cigna Group by 802.6% during the third quarter. Peregrine Asset Advisers Inc. now owns 7,501 shares of the health services provider’s stock valued at $2,599,000 after purchasing an additional 6,670 shares during the period. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Company Profile

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.