Fiduciary Financial Group LLC Sells 35 Shares of The Cigna Group (NYSE:CI)

Fiduciary Financial Group LLC lessened its stake in shares of The Cigna Group (NYSE:CI) by 2.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,212 shares of the health services provider’s stock after selling 35 shares during the period. Fiduciary Financial Group LLC’s holdings in The Cigna Group were worth $397,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. TCTC Holdings LLC bought a new position in shares of The Cigna Group in the 4th quarter valued at about $25,000. Collier Financial bought a new position in shares of The Cigna Group in the 4th quarter valued at about $32,000. Putney Financial Group LLC bought a new position in shares of The Cigna Group in the 4th quarter valued at about $36,000. Compagnie Lombard Odier SCmA bought a new position in shares of The Cigna Group in the 4th quarter valued at about $37,000. Finally, Transce3nd LLC bought a new position in shares of The Cigna Group in the 4th quarter valued at about $38,000. Institutional investors own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

CI has been the topic of a number of recent analyst reports. Cantor Fitzgerald increased their price objective on shares of The Cigna Group from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Thursday, March 20th. Piper Sandler increased their price objective on shares of The Cigna Group from $348.00 to $374.00 and gave the stock an “overweight” rating in a research report on Monday, May 5th. Barclays reissued an “overweight” rating and issued a $385.00 price objective (up from $382.00) on shares of The Cigna Group in a research report on Monday, June 2nd. Mizuho increased their price objective on shares of The Cigna Group from $360.00 to $384.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 9th. Finally, Robert W. Baird reduced their price objective on shares of The Cigna Group from $388.00 to $362.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 15th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $380.39.

Insider Activity

In other The Cigna Group news, Director Elder Granger sold 2,376 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $310.35, for a total value of $737,391.60. Following the completion of the sale, the director now directly owns 5,471 shares in the company, valued at $1,697,924.85. This trade represents a 30.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.70% of the company’s stock.

The Cigna Group Price Performance

NYSE CI opened at $313.83 on Wednesday. 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 firm’s 50 day moving average price is $322.47 and its 200-day moving average price is $308.81. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The company has a market cap of $83.84 billion, a PE ratio of 25.64, a P/E/G ratio of 0.98 and a beta of 0.44.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.35 by $0.39. The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. The firm had revenue of $65.45 billion for the quarter, compared to the consensus estimate of $60.39 billion. During the same period last year, the firm earned $6.47 earnings per share. The company’s quarterly revenue was up 14.4% on a year-over-year basis. Sell-side analysts forecast that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Announces Dividend

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 dividend of $1.51 per share. 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 1.92%. The Cigna Group’s dividend payout ratio is presently 33.44%.

The Cigna Group 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.