Guggenheim Capital LLC Sells 6,063 Shares of The Cigna Group (NYSE:CI)

Guggenheim Capital LLC trimmed its holdings in The Cigna Group (NYSE:CI) by 14.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,936 shares of the health services provider’s stock after selling 6,063 shares during the quarter. Guggenheim Capital LLC’s holdings in The Cigna Group were worth $10,200,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. TCTC Holdings LLC bought a new position in shares of The Cigna Group during the fourth quarter valued at approximately $25,000. Collier Financial bought a new position in The Cigna Group during the 4th quarter valued at approximately $32,000. ORG Wealth Partners LLC bought a new position in The Cigna Group during the 4th quarter valued at approximately $34,000. Compagnie Lombard Odier SCmA purchased a new position in The Cigna Group during the fourth quarter valued at $37,000. Finally, Heck Capital Advisors LLC bought a new stake in The Cigna Group in the fourth quarter worth $53,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO David Cordani sold 26,527 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value 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 approximately $39,367,568.04. The trade was a 17.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Elder Granger sold 2,376 shares of the company’s stock in a transaction that occurred on 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 transaction, 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 a total of 43,751 shares of company stock worth $13,603,991 over the last three months. 0.70% of the stock is currently owned by company insiders.

The Cigna Group Trading Up 0.3 %

Shares of CI stock opened at $329.50 on Thursday. 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 company has a market cap of $90.18 billion, a price-to-earnings ratio of 26.92, a PEG ratio of 0.98 and a beta of 0.51. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The firm has a fifty day moving average price of $314.43 and a 200-day moving average price of $311.19.

The Cigna Group (NYSE:CI) last released 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 net margin of 1.39% and a return on equity of 18.61%. During the same period in the prior year, the business posted $6.79 EPS. As a group, equities 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 declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were issued a dividend of $1.51 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $6.04 annualized dividend and a yield of 1.83%. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s payout ratio is currently 49.35%.

Wall Street Analysts Forecast Growth

CI has been the subject of several recent analyst reports. Robert W. Baird lowered their price target on The Cigna Group from $388.00 to $362.00 and set an “outperform” rating for the company in a research report on Tuesday. Royal Bank of Canada set a $355.00 target price on shares of The Cigna Group in a report on Friday, January 31st. Barclays cut their price target on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Guggenheim assumed coverage on The Cigna Group in a research report on Wednesday, April 9th. They issued a “buy” rating and a $384.00 price objective on the stock. Finally, Piper Sandler reissued an “overweight” rating and issued a $348.00 target price (down previously from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three 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 $373.56.

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.