The Cigna Group (NYSE:CI) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. cut its position in shares of The Cigna Group (NYSE:CI - Free Report) by 5.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 299,328 shares of the health services provider's stock after selling 18,137 shares during the period. Envestnet Asset Management Inc. owned 0.11% of The Cigna Group worth $82,656,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CI. TCTC Holdings LLC purchased a new position in The Cigna Group during the fourth quarter valued at $25,000. Collier Financial acquired a new position in shares of The Cigna Group during the 4th quarter worth about $32,000. ORG Wealth Partners LLC purchased a new position in The Cigna Group in the 4th quarter valued at about $34,000. Compagnie Lombard Odier SCmA acquired a new stake in The Cigna Group in the 4th quarter worth about $37,000. Finally, Heck Capital Advisors LLC purchased a new stake in The Cigna Group during the 4th quarter worth approximately $53,000. Institutional investors and hedge funds own 86.99% of the company's stock.

Insider Transactions 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 sale, the chief executive officer now owns 127,767 shares of the company's stock, valued at approximately $39,367,568.04. This represents a 17.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Elder Granger sold 2,376 shares of The Cigna Group stock in a transaction on Friday, March 14th. The shares were sold at an average price of $310.35, for a total value of $737,391.60. Following the completion of the transaction, the director now owns 5,471 shares of the company's stock, valued at approximately $1,697,924.85. This trade represents a 30.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,751 shares of company stock valued at $13,603,991. 0.70% of the stock is currently owned by corporate insiders.

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The Cigna Group Trading Down 0.8 %

Shares of CI traded down $2.52 during trading on Monday, reaching $327.67. 275,560 shares of the company traded hands, compared to its average volume of 1,833,291. The stock has a 50-day simple moving average of $312.04 and a 200-day simple moving average of $311.07. The stock has a market cap of $89.68 billion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 0.98 and a beta of 0.51. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70.

The Cigna Group (NYSE:CI - Get Free Report) last announced its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 business posted $6.79 earnings per share. On average, analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were given a $1.51 dividend. 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 1.84%. The ex-dividend date was Wednesday, March 5th. The Cigna Group's payout ratio is currently 49.35%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Morgan Stanley decreased their target price on The Cigna Group from $403.00 to $379.00 and set an "overweight" rating on the stock in a research report on Friday, January 31st. Cantor Fitzgerald raised their price objective on The Cigna Group from $350.00 to $365.00 and gave the company an "overweight" rating in a report on Thursday, March 20th. UBS Group dropped 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 report on Monday, February 3rd. Wells Fargo & Company decreased their price target on shares of The Cigna Group from $370.00 to $341.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 4th. Finally, Truist Financial boosted their price target on shares of The Cigna Group from $375.00 to $385.00 and gave the stock a "buy" rating in a research report on Friday. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $375.00.

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.