The Cigna Group (NYSE:CI) Shares Sold by WBI Investments LLC

WBI Investments LLC trimmed its holdings in The Cigna Group (NYSE:CI - Free Report) by 88.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,617 shares of the health services provider's stock after selling 11,881 shares during the period. WBI Investments LLC's holdings in The Cigna Group were worth $446,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. TCTC Holdings LLC acquired a new stake in The Cigna Group in the 4th quarter worth about $25,000. Collier Financial purchased a new position in shares of The Cigna Group in the 4th quarter worth about $32,000. Compagnie Lombard Odier SCmA purchased a new position in shares of The Cigna Group in the 4th quarter worth about $37,000. Transce3nd LLC purchased a new position in shares of The Cigna Group in the 4th quarter worth about $38,000. Finally, Heck Capital Advisors LLC purchased a new position in shares of The Cigna Group in the 4th quarter worth about $53,000. 86.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Noelle K. Eder sold 9,944 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $320.00, for a total value of $3,182,080.00. Following the completion of the sale, the insider now directly owns 13,406 shares in the company, valued at approximately $4,289,920. The trade was a 42.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David Cordani sold 26,527 shares of the business's stock in a transaction that occurred 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 sale, the chief executive officer now owns 127,767 shares of the company's stock, valued at $39,367,568.04. This trade represents a 17.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,751 shares of company stock worth $13,603,991. 0.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have recently commented on CI. Barclays raised their price objective on The Cigna Group from $339.00 to $382.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Piper Sandler raised their price objective on The Cigna Group from $348.00 to $374.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Stephens cut their price objective on The Cigna Group from $410.00 to $380.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. Oppenheimer cut their price objective on The Cigna Group from $400.00 to $375.00 and set an "outperform" rating on the stock in a report on Friday, January 31st. Finally, Wall Street Zen upgraded The Cigna Group from a "buy" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $379.33.

The Cigna Group Stock Up 1.2%

CI stock traded up $3.68 during midday trading on Friday, hitting $316.36. 1,667,838 shares of the company's stock were exchanged, compared to its average volume of 1,716,406. 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 has a 12-month low of $262.03 and a 12-month high of $370.83. The firm has a 50 day moving average price of $325.35 and a 200-day moving average price of $310.02. The stock has a market capitalization of $84.51 billion, a price-to-earnings ratio of 25.85, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47.

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

The Cigna Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be issued 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 1.91%. The Cigna Group's dividend payout ratio (DPR) is 33.44%.

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.