Calamos Advisors LLC Sells 700 Shares of The Cigna Group (NYSE:CI)

Calamos Advisors LLC cut its position in shares of The Cigna Group (NYSE:CI) by 1.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,627 shares of the health services provider’s stock after selling 700 shares during the quarter. Calamos Advisors LLC’s holdings in The Cigna Group were worth $16,059,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in CI. Bogart Wealth LLC boosted its position in shares of The Cigna Group by 104.5% during the third 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 in the last quarter. OFI Invest Asset Management purchased a new position in The Cigna Group during the third quarter valued at $26,000. Fairfield Bush & CO. purchased a new position in The Cigna Group during the second quarter valued at $28,000. Fortitude Family Office LLC purchased a new position in The Cigna Group during the fourth quarter valued at $29,000. Finally, Optimum Investment Advisors raised its stake in The Cigna Group by 110.0% during the third quarter. Optimum Investment Advisors now owns 105 shares of the health services provider’s stock valued at $30,000 after buying an additional 55 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CI has been the subject of several recent analyst reports. Mizuho boosted their price target on The Cigna Group from $360.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, February 5th. Royal Bank of Canada upgraded The Cigna Group from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $327.00 to $354.00 in a research report on Monday, February 5th. Barclays started coverage on The Cigna Group in a research report on Wednesday, March 6th. They set an “overweight” rating and a $393.00 price objective for the company. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 14th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $384.00 price objective on shares of The Cigna Group in a research report on Wednesday, April 10th. Two 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $362.14.

Insider Transactions at The Cigna Group

In other news, CEO David Cordani sold 38,065 shares of the stock in a transaction that occurred 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 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 document filed with the SEC, which is available at this link. In other news, insider Eric P. Palmer sold 1,017 shares of the firm’s stock in a transaction on 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 sale, the insider now owns 45,564 shares of the company’s stock, valued at approximately $15,275,786.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 of the company’s stock, valued at approximately $110,394,985.62. The disclosure for this sale can be found here. Over the last three months, insiders have sold 114,144 shares of company stock worth $39,296,330. 0.60% of the stock is currently owned by company insiders.

The Cigna Group Price Performance

The Cigna Group stock traded up $1.85 during midday trading on Friday, reaching $350.63. 242,933 shares of the stock traded hands, compared to its average volume of 1,587,770. The stock’s fifty day moving average is $348.06 and its 200-day moving average is $315.03. The Cigna Group has a 12 month low of $240.50 and a 12 month high of $365.71. The stock has a market cap of $102.51 billion, a P/E ratio of 20.06, a PEG ratio of 1.06 and a beta of 0.56. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.61.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Friday, February 2nd. The health services provider reported $6.79 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $48.91 billion. During the same period in the prior year, the business posted $4.96 earnings per share. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. As a group, equities research analysts anticipate that The Cigna Group will post 28.36 EPS for the current year.

The Cigna Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th were issued a $1.40 dividend. This represents a $5.60 annualized dividend 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 is presently 32.20%.

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.