National Bank of Canada FI Sells 24,710 Shares of The Cigna Group (NYSE:CI)

National Bank of Canada FI reduced its holdings in The Cigna Group (NYSE:CI - Free Report) by 9.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 227,543 shares of the health services provider's stock after selling 24,710 shares during the quarter. National Bank of Canada FI owned about 0.08% of The Cigna Group worth $70,552,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Dakota Wealth Management increased its holdings in The Cigna Group by 9.7% in the 3rd quarter. Dakota Wealth Management now owns 1,005 shares of the health services provider's stock valued at $288,000 after buying an additional 89 shares during the period. Stratos Wealth Partners LTD. increased its holdings in shares of The Cigna Group by 26.3% during the third quarter. Stratos Wealth Partners LTD. now owns 6,762 shares of the health services provider's stock worth $1,935,000 after buying an additional 1,407 shares in the last quarter. Sage Mountain Advisors LLC acquired a new position in shares of The Cigna Group in the 3rd quarter worth approximately $387,000. Concord Wealth Partners grew its position in The Cigna Group by 4.4% during the 3rd quarter. Concord Wealth Partners now owns 1,076 shares of the health services provider's stock worth $308,000 after acquiring an additional 45 shares during the last quarter. Finally, Everhart Financial Group Inc. grew its position in The Cigna Group by 16.6% during the 3rd quarter. Everhart Financial Group Inc. now owns 1,083 shares of the health services provider's stock worth $310,000 after acquiring an additional 154 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company's stock.

Insiders Place Their Bets

In related news, CEO David Cordani sold 31,209 shares of The Cigna Group stock in a transaction that occurred on Monday, March 25th. The stock was 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 of the company's stock, valued at approximately $123,618,339.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other The Cigna Group news, insider Eric P. Palmer sold 6,083 shares of the business's stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $340.00, for a total transaction of $2,068,220.00. Following the sale, the insider now directly owns 44,649 shares of the company's stock, valued at approximately $15,180,660. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David Cordani sold 31,209 shares of the firm's stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 348,054 shares of the company's stock, valued at approximately $123,618,339.18. The disclosure for this sale can be found here. In the last 90 days, insiders sold 114,144 shares of company stock worth $39,296,330. Corporate insiders own 0.60% of the company's stock.

The Cigna Group Trading Down 0.9 %

NYSE:CI traded down $3.00 on Friday, reaching $341.50. The company's stock had a trading volume of 2,413,548 shares, compared to its average volume of 1,380,653. The Cigna Group has a 1-year low of $240.50 and a 1-year high of $365.71. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.67 and a current ratio of 0.71. The firm has a market cap of $99.84 billion, a PE ratio of 28.04, a PEG ratio of 1.05 and a beta of 0.57. The business's 50-day moving average price is $350.77 and its two-hundred day moving average price is $319.71.

The Cigna Group (NYSE:CI - Get Free Report) last announced its earnings results on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, topping the consensus estimate of $6.17 by $0.30. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The firm had revenue of $57.25 billion for the quarter, compared to the consensus estimate of $56.59 billion. During the same period last year, the company posted $5.41 EPS. The business's quarterly revenue was up 23.2% on a year-over-year basis. Equities research analysts anticipate that The Cigna Group will post 28.45 earnings per share for the current fiscal 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 paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend is Tuesday, June 4th. The Cigna Group's payout ratio is presently 45.98%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CI. Deutsche Bank Aktiengesellschaft upgraded The Cigna Group from a "hold" rating to a "buy" rating and increased their target price for the stock from $355.00 to $370.00 in a report on Thursday, February 1st. Cantor Fitzgerald lifted their target price on The Cigna Group from $384.00 to $400.00 and gave the company an "overweight" rating in a research note on Friday. Royal Bank of Canada raised The Cigna Group from a "sector perform" rating to an "outperform" rating and upped their price target for the company from $327.00 to $354.00 in a research note on Monday, February 5th. Wells Fargo & Company lifted their price objective on The Cigna Group from $334.00 to $348.00 and gave the stock an "equal weight" rating in a research report on Tuesday, February 6th. Finally, Morgan Stanley restated an "overweight" rating and set a $392.00 target price (up from $382.00) on shares of The Cigna Group in a research report on Monday, March 4th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $366.14.

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.