Connecticut Wealth Management LLC Sells 189 Shares of The Cigna Group (NYSE:CI)

Connecticut Wealth Management LLC lessened its holdings in The Cigna Group (NYSE:CI) by 2.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,325 shares of the health services provider’s stock after selling 189 shares during the quarter. Connecticut Wealth Management LLC’s holdings in The Cigna Group were worth $1,894,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in CI. Bogart Wealth LLC increased its position in shares of The Cigna Group by 104.5% during the 3rd quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock worth $26,000 after purchasing an additional 46 shares during the last quarter. OFI Invest Asset Management acquired a new position in The Cigna Group during the third quarter worth $26,000. Fortitude Family Office LLC bought a new stake in The Cigna Group during the fourth quarter worth $29,000. VisionPoint Advisory Group LLC lifted its stake in The Cigna Group by 112.2% in the third quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock valued at $30,000 after acquiring an additional 55 shares during the last quarter. Finally, Pacifica Partners Inc. grew its position in shares of The Cigna Group by 73.2% in the 4th quarter. Pacifica Partners Inc. now owns 142 shares of the health services provider’s stock valued at $43,000 after acquiring an additional 60 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

Insider Activity at The Cigna Group

In other news, CEO David Cordani sold 31,209 shares of The Cigna Group stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 348,054 shares of the company’s stock, valued at approximately $123,618,339.18. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total value of $1,608,446.16. Following the completion of the sale, the senior vice president now directly owns 2,102 shares in the company, valued at $694,668.96. The transaction was disclosed in a filing 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 dated 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 transaction, the chief executive officer now owns 348,054 shares in the company, valued at approximately $123,618,339.18. The disclosure for this sale can be found here. Insiders have sold a total of 114,144 shares of company stock worth $39,296,330 over the last quarter. Company insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 14th. Wells Fargo & Company boosted their price target on The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 6th. Oppenheimer raised their price objective on The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a research note on Friday. Mizuho upped their target price on The Cigna Group from $360.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, February 5th. Finally, Royal Bank of Canada raised The Cigna Group from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $327.00 to $354.00 in a research note on Monday, February 5th. 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. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $366.14.

The Cigna Group Trading Down 0.9 %

Shares of NYSE CI traded down $3.00 during trading on Friday, reaching $341.50. The company had a trading volume of 2,413,548 shares, compared to its average volume of 1,380,653. The stock has a market cap of $99.84 billion, a P/E ratio of 28.04, a PEG ratio of 1.05 and a beta of 0.57. The company’s fifty day moving average price is $350.77 and its 200-day moving average price is $319.59. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 0.75. The Cigna Group has a 12 month low of $240.50 and a 12 month high of $365.71.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, beating the consensus estimate of $6.17 by $0.30. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The business had revenue of $57.25 billion for the quarter, compared to analysts’ expectations of $56.59 billion. During the same period in the prior year, the business posted $5.41 earnings per share. The firm’s revenue was up 23.2% on a year-over-year basis. As a group, research analysts expect that The Cigna Group will post 28.4 earnings per share for the current year.

The Cigna Group Dividend Announcement

The company 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 dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date is Tuesday, June 4th. The Cigna Group’s dividend payout ratio is presently 45.98%.

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.