The Cigna Group (NYSE:CI) CEO Sells $2,250,687.18 in Stock

The Cigna Group (NYSE:CI) CEO David Cordani sold 6,338 shares of The Cigna Group stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $355.11, for a total value of $2,250,687.18. Following the completion of the sale, the chief executive officer now directly owns 348,054 shares in the company, valued at $123,597,455.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, March 25th, David Cordani sold 31,209 shares of The Cigna Group stock. The stock was sold at an average price of $355.17, for a total value of $11,084,500.53.
• 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 stock was 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 stock was 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 stock was sold at an average price of $335.22, for a total value of $12,760,149.30.

The Cigna Group Stock Performance

The Cigna Group stock opened at $363.38 on Thursday. The company has a 50 day moving average price of $332.16 and a 200-day moving average price of $307.08. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.67 and a current ratio of 0.67. The Cigna Group has a fifty-two week low of $240.50 and a fifty-two week high of $364.71. The company has a market capitalization of $106.24 billion, a PE ratio of 20.90, a P/E/G ratio of 1.09 and a beta of 0.55.

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

The Cigna Group Increases Dividend

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

Hedge Funds Weigh In On The Cigna Group

A number of large investors have recently bought and sold shares of CI. Bogart Wealth LLC increased its position in shares of The Cigna Group by 104.5% in the 3rd quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock valued at $26,000 after acquiring an additional 46 shares during the period. OFI Invest Asset Management purchased a new position in The Cigna Group in the 3rd quarter valued at about $26,000. Main Street Group LTD purchased a new position in The Cigna Group in the 4th quarter valued at about $28,000. Fairfield Bush & CO. purchased a new position in The Cigna Group in the 2nd quarter worth approximately $28,000. Finally, Fortitude Family Office LLC purchased a new position in The Cigna Group in the 4th quarter worth approximately $29,000. Institutional investors own 86.99% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $372.00 price target on shares of The Cigna Group in a research report on Monday, March 4th. Morgan Stanley reiterated an “overweight” rating and issued a $392.00 price target (up previously from $382.00) on shares of The Cigna Group in a research report on Monday, March 4th. Oppenheimer restated an “outperform” rating and set a $360.00 target price on shares of The Cigna Group in a research report on Wednesday, January 17th. Mizuho boosted their target price on The Cigna Group from $360.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, February 5th. Finally, Royal Bank of Canada upgraded The Cigna Group from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $327.00 to $354.00 in a research report on Monday, February 5th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, The Cigna Group 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.