Logan Capital Management Inc. Sells 358 Shares of The Cigna Group (NYSE:CI)

Logan Capital Management Inc. lessened its stake in The Cigna Group (NYSE:CI) by 68.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 164 shares of the health services provider’s stock after selling 358 shares during the quarter. Logan Capital Management Inc.’s holdings in The Cigna Group were worth $45,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. TCTC Holdings LLC purchased a new stake in shares of The Cigna Group during the fourth quarter worth about $25,000. Collier Financial bought a new position in shares of The Cigna Group during the fourth quarter valued at approximately $32,000. Compagnie Lombard Odier SCmA bought a new position in shares of The Cigna Group during the fourth quarter valued at approximately $37,000. Transce3nd LLC bought a new stake in shares of The Cigna Group during the fourth quarter valued at approximately $38,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of The Cigna Group during the fourth quarter valued at approximately $53,000. Institutional investors own 86.99% of the company’s stock.

Insider Transactions at The Cigna Group

In related news, insider Noelle K. Eder sold 9,944 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the sale, the insider now owns 13,406 shares in the company, valued at approximately $4,289,920. This trade represents a 42.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David Cordani sold 26,527 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the sale, the chief executive officer now 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. Insiders have sold 43,751 shares of company stock worth $13,603,991 over the last 90 days. 0.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Morgan Stanley lifted their target price on shares of The Cigna Group from $379.00 to $390.00 and gave the stock an “overweight” rating in a research report on Monday, May 5th. Cantor Fitzgerald lifted their target price on shares of The Cigna Group from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. UBS Group reduced their price target on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Robert W. Baird reduced their target price on shares of The Cigna Group from $388.00 to $362.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. Finally, Sanford C. Bernstein downgraded shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price target on the stock. in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $379.33.

The Cigna Group Trading Down 4.4%

NYSE CI opened at $301.90 on Wednesday. The company has a fifty day simple moving average of $325.67 and a two-hundred day simple moving average of $309.94. The stock has a market cap of $80.65 billion, a P/E ratio of 24.67, a P/E/G ratio of 0.98 and a beta of 0.47. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.35 by $0.39. The business had revenue of $65.45 billion during the quarter, compared to analysts’ expectations of $60.39 billion. The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. The business’s quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter last year, the company posted $6.47 earnings per share. On average, analysts forecast 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. Stockholders of record on Tuesday, June 3rd will be paid a $1.51 dividend. The ex-dividend date is Tuesday, June 3rd. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.00%. The Cigna Group’s payout ratio is currently 33.44%.

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.