WESCAP Management Group Inc. Sells 84 Shares of The Cigna Group (NYSE:CI)

WESCAP Management Group Inc. cut its position in The Cigna Group (NYSE:CI) by 1.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,158 shares of the health services provider’s stock after selling 84 shares during the quarter. WESCAP Management Group Inc.’s holdings in The Cigna Group were worth $1,545,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Eads & Heald Wealth Management lifted its holdings in The Cigna Group by 1.7% during the 3rd quarter. Eads & Heald Wealth Management now owns 2,123 shares of the health services provider’s stock worth $607,000 after purchasing an additional 35 shares during the last quarter. Relyea Zuckerberg Hanson LLC lifted its holdings in shares of The Cigna Group by 3.2% during the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 1,113 shares of the health services provider’s stock worth $333,000 after buying an additional 35 shares in the last quarter. E&G Advisors LP boosted its position in shares of The Cigna Group by 1.8% in the third quarter. E&G Advisors LP now owns 2,137 shares of the health services provider’s stock valued at $611,000 after acquiring an additional 37 shares during the period. Sequoia Financial Advisors LLC grew its stake in shares of The Cigna Group by 1.4% in the third quarter. Sequoia Financial Advisors LLC now owns 2,822 shares of the health services provider’s stock valued at $807,000 after acquiring an additional 39 shares in the last quarter. Finally, Breakwater Capital Group increased its position in The Cigna Group by 3.5% during the fourth quarter. Breakwater Capital Group now owns 1,144 shares of the health services provider’s stock worth $349,000 after acquiring an additional 39 shares during the period. Institutional investors own 86.99% of the company’s stock.

Analyst Upgrades and Downgrades

CI has been the topic of a number of analyst reports. Royal Bank of Canada upgraded shares of The Cigna Group from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $327.00 to $354.00 in a research report on Monday, February 5th. Mizuho boosted their price target on The Cigna Group from $360.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, February 5th. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 14th. Barclays initiated coverage on shares of The Cigna Group in a report on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 target price for the company. Finally, Wells Fargo & Company lifted their price target on shares of The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $366.14.

The Cigna Group Trading Down 0.9 %

CI traded down $3.00 during midday trading on Friday, hitting $341.50. 2,413,548 shares of the company were exchanged, compared to its average volume of 1,380,653. The firm’s 50 day moving average price is $350.77 and its 200-day moving average price is $319.59. The Cigna Group has a 1-year low of $240.50 and a 1-year high of $365.71. The firm has a market capitalization of $99.84 billion, a P/E ratio of 28.04, a P/E/G ratio of 1.05 and a beta of 0.57. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 0.75.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, topping analysts’ consensus estimates of $6.17 by $0.30. The company had revenue of $57.25 billion for the quarter, compared to analyst estimates of $56.59 billion. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The firm’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period in the previous year, the firm earned $5.41 earnings per share. As a group, equities analysts forecast that The Cigna Group will post 28.45 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend is Tuesday, June 4th. The Cigna Group’s dividend payout ratio (DPR) is presently 45.98%.

Insider Buying and Selling

In related news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the sale, the senior vice president now owns 2,102 shares in the company, valued at approximately $694,668.96. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Eric P. Palmer sold 1,017 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $335.26, for a total transaction of $340,959.42. Following the transaction, the insider now owns 45,564 shares in the company, valued at $15,275,786.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 value 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 $694,668.96. 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. Insiders own 0.60% 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.