The Cigna Group (NYSE:CI) CEO Sells $2,250,687.18 in Stock

The Cigna Group (NYSE:CI) CEO David Cordani sold 6,338 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $355.11, for a total transaction of $2,250,687.18. Following the completion of the transaction, the chief executive officer now owns 348,054 shares in the company, valued at $123,597,455.94. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

David Cordani also recently made the following trade(s):

• On Monday, March 25th, David Cordani sold 31,209 shares of The Cigna Group stock. The shares were sold at an average price of $355.17, for a total transaction of $11,084,500.53.
• On Wednesday, March 13th, David Cordani sold 13,761 shares of The Cigna Group stock. The shares were sold at an average price of $347.33, for a total transaction of $4,779,608.13.
• On Thursday, March 7th, David Cordani sold 2,412 shares of The Cigna Group stock. The shares were sold at an average price of $345.73, for a total transaction of $833,900.76.
• On Tuesday, February 27th, David Cordani sold 2,000 shares of The Cigna Group stock. The stock was sold at an average price of $345.04, for a total transaction of $690,080.00.
• On Friday, February 23rd, David Cordani sold 6,319 shares of The Cigna Group stock. The stock was sold at an average price of $345.24, for a total transaction of $2,181,571.56.
• On Monday, February 12th, David Cordani sold 2,073 shares of The Cigna Group stock. The stock was sold at an average price of $336.81, for a total transaction of $698,207.13.
• On Friday, February 9th, David Cordani sold 38,065 shares of The Cigna Group stock. The stock was sold at an average price of $335.22, for a total transaction of $12,760,149.30.

The Cigna Group Trading Up 1.6 %

Shares of CI stock opened at $363.38 on Thursday. The Cigna Group has a 1 year low of $240.50 and a 1 year high of $364.71. The firm’s fifty day simple moving average is $332.16 and its 200 day simple moving average is $307.08. The firm has a market capitalization of $106.24 billion, a P/E ratio of 20.90, a price-to-earnings-growth ratio of 1.09 and a beta of 0.55. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.61.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Friday, February 2nd. The health services provider reported $6.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.54 by $0.25. The firm had revenue of $51.15 billion for the quarter, compared to analyst estimates of $48.91 billion. The Cigna Group had a net margin of 2.64% and a return on equity of 13.59%. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.96 EPS. As a group, sell-side analysts predict that The Cigna Group will post 28.36 EPS for the current year.

The Cigna Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th were issued a $1.40 dividend. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.23. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $5.60 annualized dividend and a dividend yield of 1.54%. The Cigna Group’s dividend payout ratio is presently 32.20%.

Wall Street Analysts Forecast Growth

CI has been the topic of several analyst reports. Barclays initiated coverage on shares of The Cigna Group in a research report on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 target price on the stock. Deutsche Bank Aktiengesellschaft raised shares of The Cigna Group from a “hold” rating to a “buy” rating and lifted their target price for the stock from $355.00 to $370.00 in a research report on Thursday, February 1st. Cantor Fitzgerald reissued an “overweight” rating and issued a $372.00 target price on shares of The Cigna Group in a research report on Monday, March 4th. Morgan Stanley reissued an “overweight” rating and issued a $392.00 target price (up from $382.00) on shares of The Cigna Group in a research report on Monday, March 4th. Finally, Mizuho lifted their target price on shares of The Cigna Group from $360.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, The Cigna Group currently has a consensus rating of “Buy” and an average price target of $361.29.

Institutional Investors Weigh In On The Cigna Group

Large investors have recently made changes to their positions in the company. Bogart Wealth LLC grew its holdings in shares of The Cigna Group by 104.5% in 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 bought a new stake in shares of The Cigna Group in the 3rd quarter worth about $26,000. Main Street Group LTD bought a new stake in shares of The Cigna Group in the 4th quarter worth about $28,000. Fairfield Bush & CO. bought a new stake in shares of The Cigna Group in the 2nd quarter worth about $28,000. Finally, Fortitude Family Office LLC acquired a new position in The Cigna Group during the 4th quarter worth about $29,000. Institutional investors own 86.99% of the company’s stock.

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.