Boothbay Fund Management LLC Sells 10,996 Shares of The Cigna Group (NYSE:CI)

Boothbay Fund Management LLC cut its stake in The Cigna Group (NYSE:CI) by 37.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,460 shares of the health services provider’s stock after selling 10,996 shares during the quarter. Boothbay Fund Management LLC’s holdings in The Cigna Group were worth $5,098,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. TCTC Holdings LLC purchased a new position in The Cigna Group during the 4th quarter worth $25,000. Collier Financial bought a new stake in The Cigna Group in the 4th quarter worth about $32,000. ORG Wealth Partners LLC purchased a new stake in The Cigna Group in the 4th quarter valued at about $34,000. Compagnie Lombard Odier SCmA bought a new position in shares of The Cigna Group during the 4th quarter worth approximately $37,000. Finally, Transce3nd LLC purchased a new position in shares of The Cigna Group in the 4th quarter worth approximately $38,000. Institutional investors own 86.99% of the company’s stock.

Insider Activity at The Cigna Group

In other news, insider Nicole S. Jones sold 4,904 shares of The Cigna Group stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the completion of the sale, the insider now directly owns 29,421 shares of the company’s stock, valued at approximately $9,065,198.52. The trade was a 14.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David Cordani sold 26,527 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $8,173,499.24. Following the completion of the transaction, the chief executive officer now directly owns 127,767 shares in the company, valued at approximately $39,367,568.04. This represents a 17.19 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,751 shares of company stock valued at $13,603,991. Company insiders own 0.70% of the company’s stock.

The Cigna Group Price Performance

Shares of NYSE CI opened at $335.60 on Friday. The stock has a fifty day moving average of $319.82 and a 200-day moving average of $310.44. The stock has a market cap of $91.85 billion, a PE ratio of 27.42, a price-to-earnings-growth ratio of 0.98 and a beta of 0.51. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same period in the prior year, the firm earned $6.79 EPS. Equities research analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be given a $1.51 dividend. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.80%. The Cigna Group’s dividend payout ratio (DPR) is presently 49.35%.

Analysts Set New Price Targets

CI has been the subject of a number of research analyst reports. Mizuho increased their price target on The Cigna Group from $360.00 to $384.00 and gave the company an “outperform” rating in a research report on Wednesday, April 9th. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 8th. Stephens reduced their price target on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Piper Sandler restated an “overweight” rating and set a $348.00 price objective (down previously from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Finally, Raymond James reiterated a “strong-buy” rating and issued a $360.00 target price (down from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $373.56.

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.