Brian C. Evanko Sells 4,795 Shares of The Cigna Group (NYSE:CI) Stock

The Cigna Group (NYSE:CI) insider Brian C. Evanko sold 4,795 shares of the firm’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the sale, the insider now owns 39,923 shares in the company, valued at approximately $13,773,834.23. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

The Cigna Group Price Performance

CI stock opened at $334.26 on Friday. The firm’s 50-day moving average price is $341.96 and its two-hundred day moving average price is $332.69. The Cigna Group has a 12-month low of $253.95 and a 12-month high of $365.71. The stock has a market capitalization of $94.95 billion, a price-to-earnings ratio of 27.44, a PEG ratio of 1.03 and a beta of 0.53. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.75.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, May 2nd. The health services provider reported $6.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $56.59 billion. During the same quarter in the previous year, the company earned $5.41 earnings per share. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. As a group, equities analysts predict that The Cigna Group will post 28.47 earnings per share for the current year.

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Tuesday, June 4th were given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.68%. The ex-dividend date was Tuesday, June 4th. The Cigna Group’s dividend payout ratio is currently 45.98%.

Hedge Funds Weigh In On The Cigna Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Capital Asset Advisory Services LLC grew its stake in The Cigna Group by 2.3% during the first quarter. Capital Asset Advisory Services LLC now owns 1,280 shares of the health services provider’s stock valued at $464,000 after acquiring an additional 29 shares in the last quarter. Hanson & Doremus Investment Management lifted its position in The Cigna Group by 3.5% during the first quarter. Hanson & Doremus Investment Management now owns 867 shares of the health services provider’s stock valued at $315,000 after purchasing an additional 29 shares during the last quarter. Capital Advisors Ltd. LLC lifted its position in The Cigna Group by 10.6% during the first quarter. Capital Advisors Ltd. LLC now owns 335 shares of the health services provider’s stock valued at $122,000 after purchasing an additional 32 shares during the last quarter. First Financial Corp IN lifted its position in The Cigna Group by 17.2% during the first quarter. First Financial Corp IN now owns 225 shares of the health services provider’s stock valued at $82,000 after purchasing an additional 33 shares during the last quarter. Finally, Somerset Trust Co lifted its position in The Cigna Group by 1.6% during the first quarter. Somerset Trust Co now owns 2,209 shares of the health services provider’s stock valued at $802,000 after purchasing an additional 34 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

CI has been the topic of several research reports. JPMorgan Chase & Co. raised their price objective on shares of The Cigna Group from $432.00 to $435.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Barclays initiated coverage on shares of The Cigna Group in a research report on Wednesday, March 6th. They set an “overweight” rating and a $393.00 price objective on the stock. Piper Sandler started coverage on shares of The Cigna Group in a research report on Wednesday. They issued an “overweight” rating and a $400.00 target price on the stock. StockNews.com downgraded shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 12th. Finally, Oppenheimer boosted their price target on shares of The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $376.20.

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.