Brookstone Capital Management Sells 151 Shares of The Cigna Group (NYSE:CI)

Brookstone Capital Management lowered its stake in The Cigna Group (NYSE:CI) by 10.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,291 shares of the health services provider’s stock after selling 151 shares during the period. Brookstone Capital Management’s holdings in The Cigna Group were worth $469,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Norges Bank acquired a new stake in The Cigna Group in the fourth quarter valued at about $1,006,348,000. Cerity Partners LLC boosted its stake in The Cigna Group by 1,039.4% in the fourth quarter. Cerity Partners LLC now owns 590,063 shares of the health services provider’s stock valued at $176,694,000 after buying an additional 538,274 shares in the last quarter. Jennison Associates LLC boosted its stake in The Cigna Group by 127.3% in the fourth quarter. Jennison Associates LLC now owns 566,233 shares of the health services provider’s stock valued at $169,558,000 after buying an additional 317,081 shares in the last quarter. International Assets Investment Management LLC boosted its stake in The Cigna Group by 21,324.4% in the fourth quarter. International Assets Investment Management LLC now owns 285,801 shares of the health services provider’s stock valued at $85,583,000 after buying an additional 284,467 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in The Cigna Group by 153.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 386,226 shares of the health services provider’s stock valued at $115,655,000 after buying an additional 233,945 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

Insider Activity

In other news, insider Noelle K. Eder sold 10,700 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $348.47, for a total transaction of $3,728,629.00. Following the completion of the sale, the insider now owns 15,824 shares in the company, valued at $5,514,189.28. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Noelle K. Eder sold 10,700 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $348.47, for a total transaction of $3,728,629.00. Following the completion of the sale, the insider now owns 15,824 shares in the company, valued at $5,514,189.28. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $348.71, for a total value of $2,073,429.66. Following the sale, the senior vice president now owns 2,595 shares of the company’s stock, valued at approximately $904,902.45. The disclosure for this sale can be found here. Insiders sold a total of 22,988 shares of company stock worth $7,975,726 over the last quarter. 0.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CI. Baird R W raised The Cigna Group to a “strong-buy” rating in a research note on Thursday, May 30th. Morgan Stanley reissued an “overweight” rating and set a $392.00 price target (up from $382.00) on shares of The Cigna Group in a research note on Monday, March 4th. Piper Sandler began coverage on The Cigna Group in a research note on Wednesday, June 26th. They set an “overweight” rating and a $400.00 price target on the stock. Robert W. Baird began coverage on The Cigna Group in a research note on Thursday, May 30th. They set an “outperform” rating and a $388.00 price target on the stock. Finally, Oppenheimer lifted their price target on The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, The Cigna Group presently has an average rating of “Buy” and a consensus target price of $376.20.

The Cigna Group Trading Down 1.1 %

Shares of CI stock opened at $330.57 on Monday. The company has a market cap of $93.91 billion, a P/E ratio of 27.14, a PEG ratio of 1.01 and a beta of 0.53. The stock has a 50 day simple moving average of $341.23 and a two-hundred day simple moving average of $333.41. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.71 and a current ratio of 0.71. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $365.71.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share for the quarter, topping analysts’ consensus estimates of $6.17 by $0.30. The business had revenue of $57.25 billion during the quarter, compared to the consensus estimate of $56.59 billion. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The firm’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period in the previous year, the company posted $5.41 earnings per share. Research analysts forecast that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th were issued a dividend of $1.40 per share. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.69%. The Cigna Group’s dividend payout ratio is 45.98%.

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.