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

The Cigna Group (NYSE:CI) insider Noelle K. Eder sold 9,944 shares of The Cigna Group stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $320.00, for a total value of $3,182,080.00. Following the transaction, the insider now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

The Cigna Group Stock Performance

NYSE CI opened at $311.08 on Thursday. The company has a market cap of $85.14 billion, a P/E ratio of 25.42, a P/E/G ratio of 0.98 and a beta of 0.53. 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 business’s 50 day moving average price is $295.40 and its 200-day moving average price is $317.10. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83.

The Cigna Group (NYSE:CI) last announced 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 net margin of 1.39% and a return on equity of 18.61%. During the same period in the prior year, the company posted $6.79 earnings per share. Sell-side analysts predict 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 will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be issued a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 1.94%. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date is Wednesday, March 5th. The Cigna Group’s dividend payout ratio is currently 49.35%.

Analyst Ratings Changes

A number of research analysts recently commented on CI shares. Barclays lowered their price target on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Oppenheimer lowered their price target on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a report on Friday, January 31st. 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 report on Thursday, February 6th. Cantor Fitzgerald lowered their price target on The Cigna Group from $400.00 to $350.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Finally, Wells Fargo & Company lowered their price target on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Two investment 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 stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $372.31.

Institutional Investors Weigh In On The Cigna Group

Hedge funds have recently made changes to their positions in the company. TCTC Holdings LLC purchased a new stake in shares of The Cigna Group in the 4th quarter worth $25,000. Prospera Private Wealth LLC purchased a new stake in shares of The Cigna Group during the 3rd quarter worth $37,000. Collier Financial purchased a new stake in shares of The Cigna Group during the 4th quarter worth $32,000. ORG Wealth Partners LLC purchased a new stake in shares of The Cigna Group during the 4th quarter worth $34,000. Finally, Putney Financial Group LLC purchased a new stake in shares of The Cigna Group during the 4th quarter worth $36,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

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.