Gray Wealth Management Inc. Sells 175 Shares of The Cigna Group (NYSE:CI)

Gray Wealth Management Inc. reduced its position in The Cigna Group (NYSE:CI) by 19.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 710 shares of the health services provider’s stock after selling 175 shares during the period. Gray Wealth Management Inc.’s holdings in The Cigna Group were worth $213,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CI. Ellsworth Advisors LLC purchased a new position in The Cigna Group during the fourth quarter valued at approximately $4,377,000. Sapient Capital LLC acquired a new stake in shares of The Cigna Group during the fourth quarter worth $2,811,000. Allspring Global Investments Holdings LLC lifted its stake in shares of The Cigna Group by 29.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 293,438 shares of the health services provider’s stock worth $87,870,000 after buying an additional 66,891 shares during the period. Accurate Wealth Management LLC acquired a new stake in shares of The Cigna Group during the fourth quarter worth $2,244,000. Finally, Dfpg Investments LLC lifted its stake in shares of The Cigna Group by 92.0% during the fourth quarter. Dfpg Investments LLC now owns 7,160 shares of the health services provider’s stock worth $2,174,000 after buying an additional 3,430 shares during the period. 86.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other The Cigna Group news, insider Eric P. Palmer sold 1,017 shares of The Cigna Group stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $335.26, for a total value of $340,959.42. Following the completion of the transaction, the insider now directly owns 45,564 shares of the company’s stock, valued at approximately $15,275,786.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total value of $1,608,446.16. Following the completion of the sale, the senior vice president now owns 2,102 shares in the company, valued at $694,668.96. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Eric P. Palmer sold 1,017 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $335.26, for a total value of $340,959.42. Following the completion of the transaction, the insider now directly owns 45,564 shares in the company, valued at approximately $15,275,786.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 114,144 shares of company stock valued at $39,296,330. 0.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CI shares. Deutsche Bank Aktiengesellschaft upgraded shares of The Cigna Group from a “hold” rating to a “buy” rating and boosted their target price for the company from $355.00 to $370.00 in a research report on Thursday, February 1st. Cantor Fitzgerald restated an “overweight” rating and issued a $384.00 price objective on shares of The Cigna Group in a research report on Wednesday, April 10th. 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 note on Thursday, January 4th. StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 14th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $392.00 price objective (up previously from $382.00) on shares of The Cigna Group in a research report on Monday, March 4th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, The Cigna Group presently has a consensus rating of “Buy” and an average price target of $362.14.

The Cigna Group Price Performance

CI stock traded up $1.85 during midday trading on Friday, reaching $350.63. The stock had a trading volume of 242,933 shares, compared to its average volume of 1,587,770. The company’s fifty day simple moving average is $348.06 and its 200 day simple moving average is $315.03. 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 company has a market cap of $102.51 billion, a price-to-earnings ratio of 20.06, a price-to-earnings-growth ratio of 1.06 and a beta of 0.56. The Cigna Group has a 52-week low of $240.50 and a 52-week high of $365.71.

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 analysts’ consensus estimates of $6.54 by $0.25. The Cigna Group had a return on equity of 13.59% and a net margin of 2.64%. The business had revenue of $51.15 billion during the quarter, compared to the consensus estimate of $48.91 billion. During the same period last year, the company earned $4.96 EPS. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. As a group, sell-side analysts predict that The Cigna Group will post 28.36 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.60%. This is an increase from The Cigna Group’s previous quarterly dividend of $1.23. The ex-dividend date of this dividend was Tuesday, March 5th. 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.