The Cigna Group (NYSE:CI) Shares Sold by Truist Financial Corp

Truist Financial Corp reduced its stake in The Cigna Group (NYSE:CI - Free Report) by 16.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 103,311 shares of the health services provider's stock after selling 20,568 shares during the period. Truist Financial Corp's holdings in The Cigna Group were worth $30,936,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Eads & Heald Wealth Management boosted its position in The Cigna Group by 1.7% during the 3rd quarter. Eads & Heald Wealth Management now owns 2,123 shares of the health services provider's stock valued at $607,000 after acquiring an additional 35 shares in the last quarter. Relyea Zuckerberg Hanson LLC boosted its position in shares of The Cigna Group by 3.2% during the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 1,113 shares of the health services provider's stock valued at $333,000 after purchasing an additional 35 shares in the last quarter. Strategic Blueprint LLC grew its stake in The Cigna Group by 4.8% in the third quarter. Strategic Blueprint LLC now owns 784 shares of the health services provider's stock worth $224,000 after purchasing an additional 36 shares during the period. E&G Advisors LP raised its holdings in The Cigna Group by 1.8% in the third quarter. E&G Advisors LP now owns 2,137 shares of the health services provider's stock worth $611,000 after purchasing an additional 37 shares in the last quarter. Finally, Sebold Capital Management Inc. raised its holdings in The Cigna Group by 3.2% in the third quarter. Sebold Capital Management Inc. now owns 1,273 shares of the health services provider's stock worth $364,000 after purchasing an additional 39 shares in the last quarter. Institutional investors own 86.99% of the company's stock.

The Cigna Group Price Performance

NYSE:CI traded up $2.06 on Monday, reaching $356.53. 1,144,263 shares of the company's stock traded hands, compared to its average volume of 1,565,608. The stock has a 50-day simple moving average of $350.19 and a 200-day simple moving average of $318.58. The Cigna Group has a 12 month low of $240.50 and a 12 month high of $365.71. The firm has a market cap of $104.24 billion, a PE ratio of 20.50, a P/E/G ratio of 1.09 and a beta of 0.56. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.61.

The Cigna Group (NYSE:CI - Get Free Report) last issued its earnings results on Friday, February 2nd. The health services provider reported $6.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.54 by $0.25. The Cigna Group had a return on equity of 13.59% and a net margin of 2.64%. The company had revenue of $51.15 billion for the quarter, compared to the consensus estimate of $48.91 billion. During the same quarter last year, the company earned $4.96 EPS. The firm's quarterly revenue was up 11.8% on a year-over-year basis. Equities research analysts forecast that The Cigna Group will post 28.36 earnings per share for the current year.

The Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Tuesday, June 4th will be given a dividend of $1.40 per share. The ex-dividend date is Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.57%. The Cigna Group's dividend payout ratio is 32.20%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Mizuho upped their target price on shares of The Cigna Group from $360.00 to $370.00 and gave the stock a "buy" rating in a research report on Monday, February 5th. Deutsche Bank Aktiengesellschaft upgraded shares of The Cigna Group from a "hold" rating to a "buy" rating and lifted their target price for the company from $355.00 to $370.00 in a report on Thursday, February 1st. Morgan Stanley restated an "overweight" rating and issued a $392.00 price target (up previously from $382.00) on shares of The Cigna Group in a research note on Monday, March 4th. Wells Fargo & Company raised their price objective on The Cigna Group from $334.00 to $348.00 and gave the company an "equal weight" rating in a research report on Tuesday, February 6th. Finally, Royal Bank of Canada raised The Cigna Group from a "sector perform" rating to an "outperform" rating and boosted their target price for the stock from $327.00 to $354.00 in a report on Monday, February 5th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $362.14.

Insider Activity at The Cigna Group

In other The Cigna Group news, CEO David Cordani sold 31,209 shares of the business's stock in a transaction on Monday, March 25th. The shares were sold at an average price of $355.17, for a total value of $11,084,500.53. Following the sale, the chief executive officer now owns 348,054 shares in the company, valued at approximately $123,618,339.18. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Eric P. Palmer sold 1,017 shares of the business's stock in a transaction on Friday, February 9th. The shares were sold at an average price of $335.26, for a total value of $340,959.42. Following the sale, the insider now owns 45,564 shares in the company, valued at $15,275,786.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David Cordani sold 31,209 shares of the company's stock in a transaction on Monday, March 25th. The shares were sold at an average price of $355.17, for a total transaction of $11,084,500.53. Following the sale, the chief executive officer now directly owns 348,054 shares in the company, valued at approximately $123,618,339.18. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 114,144 shares of company stock valued at $39,296,330. Corporate insiders own 0.70% of the company's stock.

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.