Insider Selling: Cigna Group (NYSE:CI) Insider Sells 5,368 Shares of Stock

Key Points

• Insider Brian Evanko sold 5,368 shares of Cigna Group stock for a total of $1,610,400, reducing his holdings by 9.49% to 51,182 shares.
• Cigna Group reported a 7.20 EPS in its last quarterly earnings, surpassing analysts' expectations, with revenue growing by 11.0% year-over-year.
• The company recently announced a quarterly dividend of $1.51 per share, resulting in an annualized yield of 2.0% and a payout ratio of 32.97%.

Cigna Group (NYSE:CI - Get Free Report) insider Brian Evanko sold 5,368 shares of the firm's stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $300.00, for a total transaction of $1,610,400.00. Following the completion of the sale, the insider owned 51,182 shares of the company's stock, valued at $15,354,600. This trade represents a 9.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Cigna Group Price Performance

Cigna Group stock traded up $4.22 during mid-day trading on Tuesday, reaching $307.21. The company had a trading volume of 1,036,646 shares, compared to its average volume of 1,794,046. The stock's 50-day simple moving average is $292.64 and its 200-day simple moving average is $309.56. Cigna Group has a 1 year low of $256.89 and a 1 year high of $358.88. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.71 and a quick ratio of 0.71. The company has a market capitalization of $82.00 billion, a P/E ratio of 16.77, a P/E/G ratio of 0.91 and a beta of 0.45.

Cigna Group (NYSE:CI - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The health services provider reported $7.20 earnings per share for the quarter, topping analysts' consensus estimates of $7.15 by $0.05. The business had revenue of $67.13 billion for the quarter, compared to analysts' expectations of $62.61 billion. Cigna Group had a return on equity of 18.80% and a net margin of 1.92%.The company's revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.72 EPS. Cigna Group has set its FY 2025 guidance at 29.600- EPS. On average, equities analysts predict that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Thursday, September 4th. Cigna Group's dividend payout ratio is 32.97%.

Hedge Funds Weigh In On Cigna Group

A number of large investors have recently modified their holdings of CI. Modern Wealth Management LLC raised its holdings in Cigna Group by 91.3% in the first quarter. Modern Wealth Management LLC now owns 3,130 shares of the health services provider's stock valued at $1,030,000 after buying an additional 1,494 shares during the period. Janney Montgomery Scott LLC raised its stake in shares of Cigna Group by 3.9% in the 2nd quarter. Janney Montgomery Scott LLC now owns 35,943 shares of the health services provider's stock valued at $11,882,000 after acquiring an additional 1,357 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of Cigna Group by 277.5% during the 1st quarter. Acadian Asset Management LLC now owns 8,274 shares of the health services provider's stock valued at $2,718,000 after acquiring an additional 6,082 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Cigna Group during the 1st quarter worth $431,000. Finally, NBC Securities Inc. acquired a new stake in Cigna Group in the 1st quarter valued at $123,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Wells Fargo & Company increased their price objective on Cigna Group from $340.00 to $354.00 and gave the company an "equal weight" rating in a research note on Tuesday. Wall Street Zen cut shares of Cigna Group from a "buy" rating to a "hold" rating in a research note on Friday. Barclays boosted their price objective on shares of Cigna Group from $354.00 to $383.00 and gave the company an "overweight" rating in a research report on Thursday, September 4th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $371.00 price target on shares of Cigna Group in a report on Thursday, June 26th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $365.00 price objective on shares of Cigna Group in a research report on Tuesday, August 26th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $372.69.

About 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.

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