Evoke Wealth LLC Decreases Stock Position in The Cigna Group (NYSE:CI)

Evoke Wealth LLC cut its stake in shares of The Cigna Group (NYSE:CI) by 4.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,036 shares of the health services provider’s stock after selling 43 shares during the quarter. Evoke Wealth LLC’s holdings in The Cigna Group were worth $286,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Horizon Investments LLC grew its holdings in The Cigna Group by 2.0% in the 4th quarter. Horizon Investments LLC now owns 4,850 shares of the health services provider’s stock worth $1,339,000 after acquiring an additional 93 shares during the last quarter. Mystic Asset Management Inc. purchased a new stake in shares of The Cigna Group during the fourth quarter worth about $2,536,000. Curio Wealth LLC bought a new stake in shares of The Cigna Group in the fourth quarter worth about $112,000. TCTC Holdings LLC purchased a new position in The Cigna Group during the 4th quarter valued at about $25,000. Finally, Cibc World Markets Corp raised its position in The Cigna Group by 15.0% during the 4th quarter. Cibc World Markets Corp now owns 43,980 shares of the health services provider’s stock valued at $12,145,000 after purchasing an additional 5,752 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors.

Insider Activity at The Cigna Group

In other news, CEO David Cordani sold 26,527 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the transaction, the chief executive officer now directly owns 127,767 shares of the company’s stock, valued at $39,367,568.04. This represents a 17.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Elder Granger sold 2,376 shares of The Cigna Group stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $310.35, for a total value of $737,391.60. Following the completion of the sale, the director now owns 5,471 shares of the company’s stock, valued at $1,697,924.85. The trade was a 30.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,751 shares of company stock valued at $13,603,991 over the last 90 days. Corporate insiders own 0.60% of the company’s stock.

The Cigna Group Stock Down 0.5 %

Shares of NYSE:CI opened at $320.74 on Thursday. 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 fifty day simple moving average of $299.23 and a two-hundred day simple moving average of $315.68. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The stock has a market capitalization of $87.78 billion, a price-to-earnings ratio of 26.20, a PEG ratio of 0.98 and a beta of 0.53.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing the consensus estimate 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 previous year, the business posted $6.79 earnings per share. On average, research analysts anticipate 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 declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $1.51 per share. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date is Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.88%. The Cigna Group’s dividend payout ratio is presently 49.35%.

Wall Street Analysts Forecast Growth

CI has been the topic of a number of recent analyst reports. Barclays cut their price objective on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Royal Bank of Canada set a $355.00 price target on shares of The Cigna Group in a report on Friday, January 31st. UBS Group decreased their price objective on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Raymond James reaffirmed a “strong-buy” rating and set a $360.00 target price (down previously from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Finally, Oppenheimer decreased their price target on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a research note on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $372.31.

The Cigna Group 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.