Carret Asset Management LLC Sells 239 Shares of The Cigna Group (NYSE:CI)

Carret Asset Management LLC lowered its position in The Cigna Group (NYSE:CI) by 21.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 865 shares of the health services provider’s stock after selling 239 shares during the quarter. Carret Asset Management LLC’s holdings in The Cigna Group were worth $314,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sanders Capital LLC boosted its position in The Cigna Group by 1.3% during the 4th quarter. Sanders Capital LLC now owns 7,727,729 shares of the health services provider’s stock valued at $2,314,068,000 after acquiring an additional 97,277 shares in the last quarter. Morgan Stanley boosted its position in The Cigna Group by 4.7% during the 3rd quarter. Morgan Stanley now owns 4,973,106 shares of the health services provider’s stock valued at $1,422,657,000 after acquiring an additional 225,115 shares in the last quarter. Norges Bank bought a new stake in The Cigna Group during the 4th quarter valued at $1,006,348,000. Parnassus Investments LLC boosted its position in The Cigna Group by 5.0% during the 4th quarter. Parnassus Investments LLC now owns 2,682,061 shares of the health services provider’s stock valued at $803,143,000 after acquiring an additional 126,598 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in The Cigna Group by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,978,465 shares of the health services provider’s stock valued at $592,451,000 after acquiring an additional 53,414 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of The Cigna Group stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $348.71, for a total transaction of $2,073,429.66. Following the completion of the transaction, the senior vice president now owns 2,595 shares in the company, valued at approximately $904,902.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Noelle K. Eder sold 10,700 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 15,824 shares in the company, valued at approximately $5,514,189.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the firm’s stock in a transaction dated 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 in the company, valued at $904,902.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,988 shares of company stock worth $7,975,726. Insiders own 0.70% of the company’s stock.

The Cigna Group Stock Performance

Shares of CI stock opened at $325.07 on Thursday. The firm has a market capitalization of $92.34 billion, a price-to-earnings ratio of 26.69, a price-to-earnings-growth ratio of 1.01 and a beta of 0.52. 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 business has a fifty day moving average of $340.15 and a 200 day moving average of $333.85. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $365.71.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, May 2nd. The health services provider reported $6.47 earnings per share for the quarter, beating analysts’ consensus estimates of $6.17 by $0.30. The business had revenue of $57.25 billion during the quarter, compared to analyst estimates of $56.59 billion. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The company’s revenue was up 23.2% on a year-over-year basis. During the same quarter last year, the business posted $5.41 EPS. As a group, research analysts expect that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th were paid a dividend of $1.40 per share. The ex-dividend date was Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.72%. The Cigna Group’s payout ratio is currently 45.98%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CI. Oppenheimer increased their target price on The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. JPMorgan Chase & Co. increased their price objective on The Cigna Group from $432.00 to $435.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a report on Wednesday, June 12th. StockNews.com lowered The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 12th. Finally, Barclays initiated coverage on The Cigna Group in a report on Wednesday, March 6th. They set an “overweight” rating and a $393.00 price objective for the company. Two 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 stock. According to data from MarketBeat.com, The Cigna Group has a consensus rating of “Buy” and an average price target of $376.20.

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.