The Cigna Group (NYSE:CI) Shares Sold by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. trimmed its position in shares of The Cigna Group (NYSE:CI) by 18.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,995 shares of the health services provider’s stock after selling 1,140 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in The Cigna Group were worth $1,814,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Sanders Capital LLC boosted its position in The Cigna Group by 1.3% during 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 purchasing an additional 97,277 shares in the last quarter. Morgan Stanley raised its stake in shares of The Cigna Group by 4.7% during the 3rd quarter. Morgan Stanley now owns 4,973,106 shares of the health services provider’s stock worth $1,422,657,000 after buying an additional 225,115 shares during the period. Norges Bank purchased a new position in shares of The Cigna Group during the 4th quarter valued at approximately $1,006,348,000. Parnassus Investments LLC grew its stake in The Cigna Group by 5.0% in the 4th quarter. Parnassus Investments LLC now owns 2,682,061 shares of the health services provider’s stock valued at $803,143,000 after acquiring an additional 126,598 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in The Cigna Group by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,978,465 shares of the health services provider’s stock worth $592,451,000 after acquiring an additional 53,414 shares in the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on CI shares. Piper Sandler initiated coverage on shares of The Cigna Group in a research report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 target price on the stock. Robert W. Baird started coverage on The Cigna Group in a report on Thursday, May 30th. They set an “outperform” rating and a $388.00 target price for the company. JPMorgan Chase & Co. boosted their price target on The Cigna Group from $432.00 to $435.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a research note on Wednesday, June 12th. Finally, StockNews.com lowered shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 12th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, The Cigna Group presently has a consensus rating of “Buy” and a consensus target price of $376.20.

The Cigna Group Stock Down 0.1 %

The Cigna Group stock opened at $325.43 on Friday. The firm has a 50 day moving average price of $339.03 and a 200 day moving average price of $333.73. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.71 and a current ratio of 0.71. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $365.71. The company has a market capitalization of $92.44 billion, a PE ratio of 26.72, a price-to-earnings-growth ratio of 0.99 and a beta of 0.52.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share for the quarter, topping 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 analyst estimates of $56.59 billion. During the same period in the prior year, the firm earned $5.41 earnings per share. The business’s quarterly revenue was up 23.2% compared to the same quarter last year. Research analysts expect that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th were issued a $1.40 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.72%. The Cigna Group’s dividend payout ratio is currently 45.98%.

Insider Buying and Selling

In related news, Director Elder Granger sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $338.08, for a total value of $338,080.00. Following the completion of the sale, the director now owns 5,471 shares in the company, valued at $1,849,635.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Elder Granger sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $338.08, for a total value of $338,080.00. Following the completion of the transaction, the director now directly owns 5,471 shares of the company’s stock, valued at approximately $1,849,635.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $348.71, for a total value of $2,073,429.66. Following the sale, the senior vice president now owns 2,595 shares in the company, valued at $904,902.45. The disclosure for this sale can be found here. Insiders have sold 22,988 shares of company stock valued at $7,975,726 over the last quarter. Company insiders own 0.70% of the company’s stock.

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.