First Trust Direct Indexing L.P. Sells 1,140 Shares of The Cigna Group (NYSE:CI)

First Trust Direct Indexing L.P. trimmed its position in shares of The Cigna Group (NYSE:CI) by 18.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,995 shares of the health services provider’s stock after selling 1,140 shares during the period. First Trust Direct Indexing L.P.’s holdings in The Cigna Group were worth $1,814,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Norges Bank bought a new position in The Cigna Group in the 4th quarter worth about $1,006,348,000. Cerity Partners LLC increased 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 acquiring an additional 538,274 shares during the last quarter. Jennison Associates LLC raised 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 worth $169,558,000 after purchasing an additional 317,081 shares during the period. International Assets Investment Management LLC increased its holdings in shares of 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 worth $85,583,000 after buying an additional 284,467 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in shares of 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 last quarter. 86.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Noelle K. Eder sold 10,700 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $348.47, for a total transaction of $3,728,629.00. Following the sale, the insider now owns 15,824 shares of the company’s stock, valued at approximately $5,514,189.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Noelle K. Eder sold 10,700 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $348.47, for a total value of $3,728,629.00. Following the transaction, the insider now directly owns 15,824 shares in the company, valued at approximately $5,514,189.28. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Elder Granger sold 547 shares of the company’s stock in a transaction on Monday, June 17th. The shares were 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 22,988 shares of company stock worth $7,975,726. 0.70% of the stock is owned by corporate insiders.

The Cigna Group Stock Down 0.1 %

Shares of NYSE:CI opened at $325.43 on Friday. The Cigna Group has a 12-month low of $253.95 and a 12-month high of $365.71. The stock has a market capitalization of $92.44 billion, a price-to-earnings ratio of 26.72, a PEG ratio of 0.99 and a beta of 0.52. The stock has a fifty day simple moving average of $339.03 and a two-hundred day simple moving average of $333.73. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.75.

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 business had revenue of $57.25 billion during the quarter, compared to analysts’ expectations of $56.59 billion. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period in the previous year, the company earned $5.41 earnings per share. On average, research analysts anticipate that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently declared 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. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date was Tuesday, June 4th. The Cigna Group’s payout ratio is currently 45.98%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CI shares. JPMorgan Chase & Co. raised their price target on The Cigna Group from $432.00 to $435.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. StockNews.com downgraded shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 12th. Robert W. Baird started coverage on shares of The Cigna Group in a research report on Thursday, May 30th. They set an “outperform” rating and a $388.00 price target for the company. Oppenheimer boosted their price objective on shares of The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Finally, Baird R W upgraded shares of The Cigna Group to a “strong-buy” rating in a report on Thursday, May 30th. 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. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $376.20.

The Cigna Group Company 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.