The Cigna Group (NYSE:CI) Shares Sold by Dumont & Blake Investment Advisors LLC

Dumont & Blake Investment Advisors LLC trimmed its holdings in The Cigna Group (NYSE:CIFree Report) by 2.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,046 shares of the health services provider’s stock after selling 101 shares during the quarter. Dumont & Blake Investment Advisors LLC’s holdings in The Cigna Group were worth $1,511,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Moneta Group Investment Advisors LLC increased its stake in The Cigna Group by 154,255.6% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 11,954,841 shares of the health services provider’s stock worth $3,961,117,000 after purchasing an additional 11,947,096 shares in the last quarter. Norges Bank purchased a new position in shares of The Cigna Group in the fourth quarter worth approximately $963,542,000. Parnassus Investments LLC acquired a new stake in shares of The Cigna Group during the third quarter valued at approximately $731,041,000. FMR LLC boosted its stake in The Cigna Group by 13.8% in the 3rd quarter. FMR LLC now owns 15,967,363 shares of the health services provider’s stock worth $4,567,783,000 after purchasing an additional 1,939,554 shares during the period. Finally, Point72 Asset Management L.P. grew its position in The Cigna Group by 13,563.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 596,121 shares of the health services provider’s stock worth $167,272,000 after purchasing an additional 591,758 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

Insider Activity at The Cigna Group

In related news, CEO David Cordani sold 38,065 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $335.22, for a total transaction of $12,760,149.30. Following the completion of the sale, the chief executive officer now owns 329,321 shares in the company, valued at approximately $110,394,985.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO David Cordani sold 38,065 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $335.22, for a total value of $12,760,149.30. Following the completion of the sale, the chief executive officer now directly owns 329,321 shares in the company, valued at $110,394,985.62. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the completion of the sale, the senior vice president now owns 2,102 shares of the company’s stock, valued at approximately $694,668.96. The disclosure for this sale can be found here. Insiders have sold a total of 114,144 shares of company stock valued at $39,296,330 in the last 90 days. 0.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CI has been the topic of a number of research reports. Sanford C. Bernstein upgraded The Cigna Group from a “market perform” rating to an “outperform” rating and upped their target price for the company from $330.00 to $372.00 in a report on Thursday, January 4th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $372.00 price objective on shares of The Cigna Group in a research note on Monday, March 4th. Deutsche Bank Aktiengesellschaft raised shares of The Cigna Group from a “hold” rating to a “buy” rating and lifted their target price for the company from $355.00 to $370.00 in a research note on Thursday, February 1st. Barclays assumed coverage on shares of The Cigna Group in a report on Wednesday, March 6th. They set an “overweight” rating and a $393.00 price target on the stock. Finally, Wells Fargo & Company increased their price objective on The Cigna Group from $334.00 to $348.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. 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 data from MarketBeat.com, The Cigna Group has an average rating of “Buy” and an average price target of $361.29.

Check Out Our Latest Analysis on The Cigna Group

The Cigna Group Stock Performance

NYSE:CI traded down $2.41 during trading hours on Wednesday, hitting $360.68. 826,315 shares of the company traded hands, compared to its average volume of 1,641,359. 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 stock has a market capitalization of $105.45 billion, a price-to-earnings ratio of 20.88, a P/E/G ratio of 1.12 and a beta of 0.56. The firm has a 50-day moving average of $337.92 and a 200 day moving average of $309.85. The Cigna Group has a twelve month low of $240.50 and a twelve month high of $365.71.

The Cigna Group (NYSE:CIGet Free Report) last issued 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 return on equity of 13.59% and a net margin of 2.64%. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the company posted $4.96 earnings per share. On average, analysts forecast that The Cigna Group will post 28.36 EPS for the current year.

The Cigna Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Wednesday, March 6th were given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.55%. The ex-dividend date was Tuesday, March 5th. This is an increase from The Cigna Group’s previous quarterly dividend of $1.23. The Cigna Group’s dividend payout ratio (DPR) is 32.20%.

The Cigna Group Profile

(Free Report)

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.

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Institutional Ownership by Quarter for The Cigna Group (NYSE:CI)

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