Waldron Private Wealth LLC Sells 289 Shares of The Cigna Group (NYSE:CI)

Waldron Private Wealth LLC trimmed its holdings in shares of The Cigna Group (NYSE:CI) by 7.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,624 shares of the health services provider’s stock after selling 289 shares during the quarter. Waldron Private Wealth LLC’s holdings in The Cigna Group were worth $1,085,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of CI. Bogart Wealth LLC grew its holdings in shares of The Cigna Group by 104.5% during the 3rd quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock valued at $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 during the 3rd quarter valued at approximately $26,000. Fortitude Family Office LLC bought a new stake in shares of The Cigna Group during the 4th quarter valued at approximately $29,000. Fairfield Bush & CO. acquired a new stake in The Cigna Group during the 2nd quarter worth approximately $28,000. Finally, VisionPoint Advisory Group LLC boosted its position in The Cigna Group by 112.2% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock worth $30,000 after buying an additional 55 shares during the period. 86.99% of the stock is owned by institutional investors.

Insider Buying and Selling

In related 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 owns 329,321 shares of the company’s stock, valued at $110,394,985.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Eric P. Palmer sold 6,083 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $340.00, for a total transaction of $2,068,220.00. Following the completion of the transaction, the insider now directly owns 44,649 shares in the company, valued at $15,180,660. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David Cordani sold 38,065 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $335.22, for a total value of $12,760,149.30. Following the transaction, the chief executive officer now owns 329,321 shares of the company’s stock, valued at $110,394,985.62. The disclosure for this sale can be found here. Insiders sold 114,144 shares of company stock valued at $39,296,330 over the last quarter. 0.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CI has been the topic of a number of recent analyst reports. Wells Fargo & Company boosted their price target on shares of The Cigna Group from $334.00 to $348.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. Deutsche Bank Aktiengesellschaft upgraded shares of The Cigna Group from a “hold” rating to a “buy” rating and boosted their price target for the stock from $355.00 to $370.00 in a research report on Thursday, February 1st. Oppenheimer restated an “outperform” rating and issued a $360.00 price target on shares of The Cigna Group in a research report on Wednesday, January 17th. Barclays started coverage on shares of The Cigna Group in a research report on Wednesday, March 6th. They set an “overweight” rating and a $393.00 target price on the stock. Finally, Sanford C. Bernstein upgraded shares of The Cigna Group from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $330.00 to $372.00 in a research report on Thursday, January 4th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $362.14.

The Cigna Group Price Performance

NYSE CI traded up $1.67 on Monday, reaching $351.51. 107,494 shares of the company’s stock traded hands, compared to its average volume of 1,587,900. The Cigna Group has a 12 month low of $240.50 and a 12 month high of $365.71. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a 50-day simple moving average of $346.49 and a 200 day simple moving average of $313.73. The stock has a market cap of $102.77 billion, a PE ratio of 20.33, a P/E/G ratio of 1.07 and a beta of 0.56.

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

The Cigna Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Wednesday, March 6th were paid a $1.40 dividend. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.23. The ex-dividend date was Tuesday, March 5th. This represents a $5.60 dividend on an annualized basis and a yield of 1.59%. The Cigna Group’s dividend payout ratio (DPR) is presently 32.20%.

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.