Insider Selling: The Cigna Group (NYSE:CI) CEO Sells 31,209 Shares of Stock

The Cigna Group (NYSE:CI) CEO David Cordani sold 31,209 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $355.17, for a total value of $11,084,500.53. Following the completion of the sale, the chief executive officer now owns 348,054 shares of the company’s stock, valued at $123,618,339.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

David Cordani also recently made the following trade(s):

• On Friday, March 22nd, David Cordani sold 6,338 shares of The Cigna Group stock. The stock was sold at an average price of $355.11, for a total value of $2,250,687.18.
• On Wednesday, March 13th, David Cordani sold 13,761 shares of The Cigna Group stock. The stock was sold at an average price of $347.33, for a total value of $4,779,608.13.
• On Thursday, March 7th, David Cordani sold 2,412 shares of The Cigna Group stock. The stock was sold at an average price of $345.73, for a total value of $833,900.76.
• On Tuesday, February 27th, David Cordani sold 2,000 shares of The Cigna Group stock. The stock was sold at an average price of $345.04, for a total value of $690,080.00.
• On Friday, February 23rd, David Cordani sold 6,319 shares of The Cigna Group stock. The shares were sold at an average price of $345.24, for a total value of $2,181,571.56.
• On Monday, February 12th, David Cordani sold 2,073 shares of The Cigna Group stock. The shares were sold at an average price of $336.81, for a total value of $698,207.13.
• On Friday, February 9th, David Cordani sold 38,065 shares of The Cigna Group stock. The shares were sold at an average price of $335.22, for a total value of $12,760,149.30.

The Cigna Group Stock Performance

Shares of The Cigna Group stock opened at $363.38 on Thursday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.61. The business has a 50-day moving average price of $332.16 and a two-hundred day moving average price of $307.08. The Cigna Group has a 1-year low of $240.50 and a 1-year high of $364.71. The company has a market cap of $106.24 billion, a P/E ratio of 20.90, a PEG ratio of 1.09 and a beta of 0.55.

The Cigna Group (NYSE:CI) last issued its earnings results on Friday, February 2nd. The health services provider reported $6.79 EPS for the quarter, beating the consensus estimate of $6.54 by $0.25. The company had revenue of $51.15 billion during the quarter, compared to the consensus estimate of $48.91 billion. The Cigna Group had a return on equity of 13.59% and a net margin of 2.64%. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period last year, the business posted $4.96 EPS. As a group, analysts anticipate that The Cigna Group will post 28.36 EPS for the current year.

The Cigna Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th were paid a $1.40 dividend. The ex-dividend date was Tuesday, March 5th. This is an increase from The Cigna Group’s previous quarterly dividend of $1.23. This represents a $5.60 annualized dividend and a dividend yield of 1.54%. The Cigna Group’s dividend payout ratio (DPR) is currently 32.20%.

Institutional Trading of The Cigna Group

Several large investors have recently made changes to their positions in CI. Moneta Group Investment Advisors LLC lifted its position in The Cigna Group by 154,255.6% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 11,954,841 shares of the health services provider’s stock valued at $3,961,117,000 after acquiring an additional 11,947,096 shares in the last quarter. Norges Bank bought a new position in The Cigna Group in the 4th quarter valued at about $1,006,348,000. Parnassus Investments LLC bought a new position in The Cigna Group in the 3rd quarter valued at about $731,041,000. FMR LLC lifted its position in The Cigna Group by 13.8% in the 3rd quarter. FMR LLC now owns 15,967,363 shares of the health services provider’s stock valued at $4,567,783,000 after acquiring an additional 1,939,554 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its position in The Cigna Group by 13,563.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 596,121 shares of the health services provider’s stock valued at $167,272,000 after acquiring an additional 591,758 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CI has been the subject of a number of research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $372.00 price target on shares of The Cigna Group in a research note on Monday, March 4th. Jefferies Financial Group upgraded The Cigna Group from a “hold” rating to a “buy” rating and increased their price objective for the company from $335.00 to $341.00 in a report on Monday, December 11th. Wells Fargo & Company increased their price objective on The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. Barclays started coverage on The Cigna Group in a report on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 price objective for the company. Finally, Morgan Stanley restated an “overweight” rating and issued a $392.00 price objective (up from $382.00) on shares of The Cigna Group in a report on Monday, March 4th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, The Cigna Group presently has an average rating of “Buy” and a consensus price target of $361.29.

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.