Obermeyer Wealth Partners Sells 5,394 Shares of The Cigna Group (NYSE:CI)

Obermeyer Wealth Partners trimmed its holdings in shares of The Cigna Group (NYSE:CI - Free Report) by 76.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,665 shares of the health services provider's stock after selling 5,394 shares during the period. Obermeyer Wealth Partners' holdings in The Cigna Group were worth $460,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. TCTC Holdings LLC acquired a new stake in shares of The Cigna Group in the 4th quarter worth about $25,000. Collier Financial acquired a new stake in shares of The Cigna Group in the 4th quarter worth about $32,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of The Cigna Group in the 4th quarter worth about $37,000. Transce3nd LLC bought a new position in The Cigna Group in the 4th quarter valued at about $38,000. Finally, Heck Capital Advisors LLC bought a new position in The Cigna Group in the 4th quarter valued at about $53,000. 86.99% of the stock is owned by institutional investors and hedge funds.

The Cigna Group Trading Up 3.8%

Shares of CI traded up $11.82 during midday trading on Friday, hitting $320.68. The stock had a trading volume of 2,055,906 shares, compared to its average volume of 1,714,979. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The business has a 50-day simple moving average of $325.00 and a two-hundred day simple moving average of $309.94. The firm has a market cap of $85.67 billion, a P/E ratio of 26.20, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47. 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 (NYSE:CI - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, topping the consensus estimate of $6.35 by $0.39. The business had revenue of $65.45 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period last year, the company posted $6.47 earnings per share. As a group, equities analysts forecast that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Tuesday, June 3rd. The Cigna Group's dividend payout ratio is currently 33.44%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Truist Financial increased their target price on shares of The Cigna Group from $385.00 to $405.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Guggenheim reiterated a "buy" rating and issued a $388.00 target price (up previously from $384.00) on shares of The Cigna Group in a research report on Monday, May 5th. Sanford C. Bernstein lowered shares of The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 target price for the company. in a research report on Thursday, February 6th. Stephens decreased their target price on shares of The Cigna Group from $410.00 to $380.00 and set an "overweight" rating for the company in a research report on Friday, January 31st. Finally, Raymond James reiterated a "strong-buy" rating and issued a $360.00 target price (down previously from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $379.33.

Insider Buying and Selling

In other The Cigna Group news, insider Noelle K. Eder sold 9,944 shares of The Cigna Group stock in a transaction that occurred on Friday, March 7th. The shares were 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 $4,289,920. The trade was a 42.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Cordani sold 26,527 shares of The Cigna Group stock in a transaction that occurred on 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 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. Over the last three months, insiders sold 43,751 shares of company stock worth $13,603,991. 0.70% of the stock is owned by company insiders.

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.