The Cigna Group (NYSE:CI) Shares Sold by Cooper Financial Group

Cooper Financial Group lowered its position in shares of The Cigna Group (NYSE:CI) by 15.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,776 shares of the health services provider’s stock after selling 319 shares during the period. Cooper Financial Group’s holdings in The Cigna Group were worth $645,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CI. Norges Bank acquired a new position in The Cigna Group in the 4th quarter valued at about $1,006,348,000. Cerity Partners LLC increased its position in The Cigna Group by 1,039.4% in the 4th quarter. Cerity Partners LLC now owns 590,063 shares of the health services provider’s stock valued at $176,694,000 after acquiring an additional 538,274 shares during the period. Jennison Associates LLC increased its position in The Cigna Group by 127.3% in the 4th quarter. Jennison Associates LLC now owns 566,233 shares of the health services provider’s stock valued at $169,558,000 after acquiring an additional 317,081 shares during the period. International Assets Investment Management LLC increased its position in The Cigna Group by 21,324.4% in the 4th quarter. International Assets Investment Management LLC now owns 285,801 shares of the health services provider’s stock valued at $85,583,000 after acquiring an additional 284,467 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in The Cigna Group by 153.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 386,226 shares of the health services provider’s stock valued at $115,655,000 after acquiring an additional 233,945 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

Insider Activity at The Cigna Group

In related news, Director Elder Granger sold 547 shares of the company’s stock in a transaction that occurred 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 SEC, which is available through this link. In other The Cigna Group news, Director Elder Granger sold 547 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $331.38, for a total transaction of $181,264.86. Following the transaction, the director now owns 5,471 shares of the company’s stock, valued at approximately $1,812,979.98. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $348.71, for a total value of $2,073,429.66. Following the transaction, the senior vice president now directly owns 2,595 shares in the company, valued at approximately $904,902.45. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,193 shares of company stock valued at $6,321,404. 0.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CI. Baird R W upgraded The Cigna Group to a “strong-buy” rating in a research report on Thursday, May 30th. StockNews.com cut The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 12th. Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a research report on Wednesday, June 12th. Robert W. Baird began coverage on The Cigna Group in a research report on Thursday, May 30th. They set an “outperform” rating and a $388.00 target price on the stock. Finally, Oppenheimer boosted their target price on The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Two research 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 company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $374.50.

The Cigna Group Price Performance

Shares of NYSE:CI opened at $339.98 on Monday. The business’s 50 day simple moving average is $342.40 and its 200-day simple moving average is $331.50. The firm has a market capitalization of $96.58 billion, a price-to-earnings ratio of 27.91, a price-to-earnings-growth ratio of 1.03 and a beta of 0.53. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.71 and a quick ratio of 0.71. The Cigna Group has a 12 month low of $253.95 and a 12 month high of $365.71.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.17 by $0.30. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The firm had revenue of $57.25 billion for the quarter, compared to analyst estimates of $56.59 billion. During the same quarter in the prior year, the company earned $5.41 EPS. The Cigna Group’s revenue was up 23.2% on a year-over-year basis. As a group, equities analysts forecast that The Cigna Group will post 28.47 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Tuesday, June 4th were paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend was Tuesday, June 4th. The Cigna Group’s payout ratio is currently 45.98%.

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.