Integrated Advisors Network LLC Sells 9,739 Shares of The Cigna Group (NYSE:CI)

Integrated Advisors Network LLC lowered its position in The Cigna Group (NYSE:CI - Free Report) by 48.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 10,503 shares of the health services provider's stock after selling 9,739 shares during the period. Integrated Advisors Network LLC's holdings in The Cigna Group were worth $2,900,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CI. Janney Montgomery Scott LLC increased its holdings in The Cigna Group by 11.6% in the fourth quarter. Janney Montgomery Scott LLC now owns 35,341 shares of the health services provider's stock worth $9,759,000 after purchasing an additional 3,677 shares in the last quarter. Avior Wealth Management LLC increased its stake in shares of The Cigna Group by 30.7% in the 4th quarter. Avior Wealth Management LLC now owns 1,512 shares of the health services provider's stock valued at $418,000 after acquiring an additional 355 shares in the last quarter. Brighton Jones LLC lifted its position in shares of The Cigna Group by 9.3% during the 4th quarter. Brighton Jones LLC now owns 3,736 shares of the health services provider's stock valued at $1,032,000 after acquiring an additional 318 shares during the period. Cornerstone Wealth Management LLC boosted its stake in The Cigna Group by 3.6% during the fourth quarter. Cornerstone Wealth Management LLC now owns 1,636 shares of the health services provider's stock worth $452,000 after acquiring an additional 57 shares in the last quarter. Finally, Gradient Investments LLC grew its holdings in The Cigna Group by 10.5% in the fourth quarter. Gradient Investments LLC now owns 41,282 shares of the health services provider's stock worth $11,400,000 after purchasing an additional 3,910 shares during the period. Institutional investors and hedge funds own 86.99% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Barclays upped their price objective on shares of The Cigna Group from $339.00 to $382.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Wells Fargo & Company reduced their price objective on The Cigna Group from $370.00 to $341.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 4th. Royal Bank of Canada set a $355.00 target price on The Cigna Group in a research report on Friday, January 31st. Mizuho lifted their price target on shares of The Cigna Group from $360.00 to $384.00 and gave the company an "outperform" rating in a research report on Wednesday, April 9th. 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 objective 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 two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $379.33.

The Cigna Group Stock Performance

CI stock traded up $4.00 during midday trading on Friday, hitting $316.05. The company's stock had a trading volume of 2,732,235 shares, compared to its average volume of 1,697,250. The stock has a market cap of $84.43 billion, a price-to-earnings ratio of 25.82, a PEG ratio of 0.98 and a beta of 0.47. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70. The stock's 50-day moving average price is $324.83 and its 200 day moving average price is $309.43. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83.

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

The Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be paid a $1.51 dividend. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $6.04 annualized dividend and a yield of 1.91%. The Cigna Group's payout ratio is 33.44%.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, CEO David Cordani sold 26,527 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 127,767 shares in the company, valued at $39,367,568.04. This trade represents a 17.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Elder Granger sold 2,376 shares of the company'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 transaction of $737,391.60. Following the sale, the director now owns 5,471 shares in the company, valued at $1,697,924.85. The trade was a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, 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 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.