The Cigna Group (NYSE:CI) Shares Sold by Mission Wealth Management LP

Mission Wealth Management LP lowered its position in The Cigna Group (NYSE:CI) by 8.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,069 shares of the health services provider’s stock after selling 185 shares during the quarter. Mission Wealth Management LP’s holdings in The Cigna Group were worth $571,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Collier Financial acquired a new position in The Cigna Group in the fourth quarter valued at $32,000. ORG Wealth Partners LLC bought a new stake in The Cigna Group in the fourth quarter valued at about $34,000. Prospera Private Wealth LLC bought a new stake in The Cigna Group in the third quarter valued at about $37,000. Compagnie Lombard Odier SCmA bought a new stake in The Cigna Group in the fourth quarter valued at about $37,000. Finally, Harbor Capital Advisors Inc. bought a new stake in The Cigna Group in the third quarter valued at about $45,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analyst Ratings Changes

CI has been the subject of several research analyst reports. Truist Financial lowered their price objective on The Cigna Group from $390.00 to $375.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. Wells Fargo & Company dropped their price target on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. StockNews.com upgraded The Cigna Group from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. 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. Finally, Sanford C. Bernstein cut 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. Two 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $372.31.

The Cigna Group Stock Performance

Shares of CI stock opened at $309.84 on Thursday. 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 $86.18 billion, a price-to-earnings ratio of 25.31, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. The business has a 50 day simple moving average of $291.31 and a 200 day simple moving average of $318.05. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72.

The Cigna Group (NYSE:CI) last issued its quarterly 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 prior year, the business earned $6.79 EPS. On average, equities research analysts anticipate that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The company also recently declared 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. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend is Wednesday, March 5th. The Cigna Group’s dividend payout ratio (DPR) is presently 49.35%.

Insider Buying and Selling at The Cigna Group

In other news, CEO David Cordani sold 26,527 shares of the firm’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 completion of the sale, the chief executive officer now directly owns 127,767 shares of the company’s stock, valued at $39,367,568.04. This trade represents a 17.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Nicole S. Jones sold 4,904 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $1,511,020.48. Following the sale, the insider now directly owns 29,421 shares of the company’s stock, valued at approximately $9,065,198.52. This represents a 14.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by corporate insiders.

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.