The Cigna Group (NYSE:CI) Director Elder Granger Sells 547 Shares

The Cigna Group (NYSE:CI) Director Elder Granger sold 547 shares of the company’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $331.38, for a total value of $181,264.86. Following the sale, the director now owns 5,471 shares of the company’s stock, valued at approximately $1,812,979.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Elder Granger also recently made the following trade(s):

• On Wednesday, June 12th, Elder Granger sold 1,000 shares of The Cigna Group stock. The stock was sold at an average price of $338.08, for a total value of $338,080.00.

The Cigna Group Price Performance

Shares of NYSE CI opened at $334.80 on Thursday. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $365.71. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.75. The firm has a market cap of $95.11 billion, a P/E ratio of 27.49, a P/E/G ratio of 1.02 and a beta of 0.53. The business’s 50 day moving average price is $342.90 and its 200 day moving average price is $329.88.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.17 by $0.30. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The firm had revenue of $57.25 billion during the quarter, compared to analysts’ expectations of $56.59 billion. During the same quarter last year, the company posted $5.41 earnings per share. The firm’s revenue was up 23.2% compared to the same quarter last year. On average, sell-side analysts expect that The Cigna Group will post 28.47 earnings per share for the current year.

The Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th will be paid a $1.40 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.67%. The Cigna Group’s payout ratio is 45.98%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Keynote Financial Services LLC acquired a new stake in The Cigna Group during the first quarter valued at $677,000. Mosaic Family Wealth Partners LLC acquired a new stake in shares of The Cigna Group during the 1st quarter valued at about $466,000. Soltis Investment Advisors LLC increased its stake in shares of The Cigna Group by 2.8% in the 1st quarter. Soltis Investment Advisors LLC now owns 2,299 shares of the health services provider’s stock valued at $835,000 after purchasing an additional 63 shares in the last quarter. Garde Capital Inc. acquired a new position in The Cigna Group in the 1st quarter worth about $112,000. Finally, Cetera Advisors LLC boosted its position in The Cigna Group by 166.6% during the first quarter. Cetera Advisors LLC now owns 25,771 shares of the health services provider’s stock worth $9,360,000 after purchasing an additional 16,103 shares in the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on CI. StockNews.com lowered The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a research report on Wednesday, June 12th. Barclays began coverage on shares of The Cigna Group in a research report on Wednesday, March 6th. They set an “overweight” rating and a $393.00 target price for the company. Baird R W raised shares of The Cigna Group to a “strong-buy” rating in a report on Thursday, May 30th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $392.00 price objective (up previously from $382.00) on shares of The Cigna Group in a report on Monday, March 4th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, The Cigna Group has a consensus rating of “Buy” and a consensus price target of $373.87.

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.