Brookstone Capital Management Sells 151 Shares of The Cigna Group (NYSE:CI)

Brookstone Capital Management decreased its holdings in The Cigna Group (NYSE:CI) by 10.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,291 shares of the health services provider’s stock after selling 151 shares during the period. Brookstone Capital Management’s holdings in The Cigna Group were worth $469,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Sanders Capital LLC lifted its position in shares of The Cigna Group by 1.3% in the fourth quarter. Sanders Capital LLC now owns 7,727,729 shares of the health services provider’s stock worth $2,314,068,000 after buying an additional 97,277 shares in the last quarter. Morgan Stanley raised its position in The Cigna Group by 4.7% during the third quarter. Morgan Stanley now owns 4,973,106 shares of the health services provider’s stock valued at $1,422,657,000 after purchasing an additional 225,115 shares during the period. Norges Bank purchased a new stake in The Cigna Group during the fourth quarter valued at approximately $1,006,348,000. Parnassus Investments LLC raised its position in The Cigna Group by 5.0% during the fourth quarter. Parnassus Investments LLC now owns 2,682,061 shares of the health services provider’s stock valued at $803,143,000 after purchasing an additional 126,598 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in The Cigna Group by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,978,465 shares of the health services provider’s stock valued at $592,451,000 after purchasing an additional 53,414 shares during the period. Institutional investors own 86.99% of the company’s stock.

Insider Buying and Selling

In related news, Director Elder Granger sold 547 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $331.38, for a total value of $181,264.86. Following the completion of the transaction, the director now owns 5,471 shares in the company, valued at approximately $1,812,979.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other The Cigna Group news, insider Brian C. Evanko sold 4,795 shares of The Cigna Group stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the completion of the transaction, 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 Securities & Exchange Commission, which is accessible through this link. Also, Director Elder Granger sold 547 shares of The Cigna Group stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $331.38, for a total value of $181,264.86. Following the transaction, the director now owns 5,471 shares of the company’s stock, valued at approximately $1,812,979.98. The disclosure for this sale can be found here. Insiders sold 22,988 shares of company stock worth $7,975,726 in the last 90 days. Insiders own 0.60% of the company’s stock.

The Cigna Group Stock Performance

Shares of CI opened at $330.57 on Monday. The Cigna Group has a 12 month low of $253.95 and a 12 month high of $365.71. The stock has a fifty day moving average price of $341.23 and a 200-day moving average price of $333.41. 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 firm has a market cap of $93.91 billion, a PE ratio of 27.14, a P/E/G ratio of 1.01 and a beta of 0.53.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data 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 firm had revenue of $57.25 billion during the quarter, compared to analyst estimates of $56.59 billion. During the same quarter in the prior year, the business posted $5.41 EPS. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. Equities research analysts predict that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Tuesday, June 4th were paid a $1.40 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.69%. The Cigna Group’s dividend payout ratio (DPR) is 45.98%.

Analyst Ratings Changes

A number of research firms have recently commented on CI. StockNews.com cut The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 12th. Barclays began coverage on The Cigna Group in a research note on Wednesday, March 6th. They set an “overweight” rating and a $393.00 target price on the stock. Piper Sandler began coverage on The Cigna Group in a research note on Wednesday, June 26th. They set an “overweight” rating and a $400.00 target price on the stock. Baird R W raised The Cigna Group to a “strong-buy” rating in a research note on Thursday, May 30th. Finally, Oppenheimer increased 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, May 3rd. Two research 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $376.20.

About The Cigna Group

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.