Elder Granger Sells 2,376 Shares of The Cigna Group (NYSE:CI) Stock

The Cigna Group (NYSE:CI - Get Free Report) Director Elder Granger sold 2,376 shares of the firm's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $310.35, for a total transaction of $737,391.60. Following the transaction, the director now directly owns 5,471 shares in the company, valued at approximately $1,697,924.85. This represents a 30.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

The Cigna Group Stock Performance

Shares of NYSE CI traded down $4.71 during trading on Friday, hitting $316.68. The company had a trading volume of 1,207,315 shares, compared to its average volume of 1,556,101. The stock has a 50 day simple moving average of $300.07 and a 200 day simple moving average of $315.72. 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 has a 12 month low of $262.03 and a 12 month high of $370.83. The firm has a market capitalization of $86.67 billion, a P/E ratio of 25.87, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53.

The Cigna Group (NYSE:CI - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 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 prior year, the company posted $6.79 earnings per share. As a group, analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current year.

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The Cigna Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were paid a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.91%. The ex-dividend date was Wednesday, March 5th. This is an increase from The Cigna Group's previous quarterly dividend of $1.40. The Cigna Group's dividend payout ratio (DPR) is 49.35%.

Institutional Trading of The Cigna Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in CI. 111 Capital bought a new stake in The Cigna Group in the 4th quarter worth approximately $1,287,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of The Cigna Group by 92.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 102,647 shares of the health services provider's stock worth $28,345,000 after purchasing an additional 49,420 shares during the period. PKO Investment Management Joint Stock Co purchased a new position in shares of The Cigna Group in the 4th quarter worth approximately $3,093,000. Castle Rock Wealth Management LLC boosted its holdings in The Cigna Group by 6.3% during the 4th quarter. Castle Rock Wealth Management LLC now owns 7,067 shares of the health services provider's stock valued at $2,066,000 after acquiring an additional 416 shares during the period. Finally, Copley Financial Group Inc. grew its position in The Cigna Group by 7.8% in the 4th quarter. Copley Financial Group Inc. now owns 1,347 shares of the health services provider's stock valued at $372,000 after acquiring an additional 98 shares during the last quarter. Institutional investors own 86.99% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. StockNews.com upgraded shares of The Cigna Group from a "hold" rating to a "buy" rating in a report on Wednesday, February 19th. Royal Bank of Canada set a $355.00 price objective on shares of The Cigna Group in a report on Friday, January 31st. Truist Financial lowered their price objective on The Cigna Group from $390.00 to $375.00 and set a "buy" rating on the stock in a research note on Tuesday, February 4th. Cantor Fitzgerald upped their price target on The Cigna Group from $350.00 to $365.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, UBS Group cut their target price on The Cigna Group from $410.00 to $390.00 and set a "buy" rating for the company in a research note on Monday, February 3rd. Two equities research 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 stock. According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $373.25.

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.