The Cigna Group (NYSE:CI) Shares Sold by AIA Group Ltd

AIA Group Ltd lowered its stake in shares of The Cigna Group (NYSE:CI) by 8.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,663 shares of the health services provider’s stock after selling 159 shares during the period. AIA Group Ltd’s holdings in The Cigna Group were worth $498,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Axiom Financial Strategies LLC acquired a new stake in The Cigna Group in the 1st quarter worth about $212,000. Fairfield Bush & CO. purchased a new stake in shares of The Cigna Group during the 1st quarter valued at about $40,000. Cibc World Market Inc. increased its holdings in The Cigna Group by 52.6% during the 1st quarter. Cibc World Market Inc. now owns 18,975 shares of the health services provider’s stock worth $4,547,000 after purchasing an additional 6,538 shares during the last quarter. Vontobel Holding Ltd. increased its holdings in The Cigna Group by 6.5% during the 1st quarter. Vontobel Holding Ltd. now owns 9,212 shares of the health services provider’s stock worth $2,265,000 after purchasing an additional 566 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its holdings in The Cigna Group by 36.5% during the 1st quarter. Sequoia Financial Advisors LLC now owns 1,283 shares of the health services provider’s stock worth $307,000 after purchasing an additional 343 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Trading Up 1.0 %

Shares of NYSE CI opened at $352.39 on Friday. The Cigna Group has a 12 month low of $240.50 and a 12 month high of $365.71. The company has a market cap of $103.02 billion, a price-to-earnings ratio of 20.26, a P/E/G ratio of 1.07 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 business has a fifty day simple moving average of $348.41 and a 200-day simple moving average of $315.48.

The Cigna Group (NYSE:CI) last announced its earnings results on Friday, February 2nd. The health services provider reported $6.79 EPS for the quarter, beating the consensus estimate 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 in the prior year, the business posted $4.96 earnings per share. The Cigna Group’s revenue was up 11.8% compared to the same quarter last year. Sell-side analysts predict that The Cigna Group will post 28.36 EPS for the current 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 paid a $1.40 dividend. This is an increase from The Cigna Group’s previous quarterly dividend of $1.23. This represents a $5.60 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend was Tuesday, March 5th. The Cigna Group’s dividend payout ratio is currently 32.20%.

Insider Buying and Selling

In related news, insider Eric P. Palmer sold 1,017 shares of the 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 sale, the insider now directly owns 45,564 shares of the company’s stock, valued at approximately $15,275,786.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other The Cigna Group 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 value of $1,608,446.16. Following the transaction, the senior vice president now directly owns 2,102 shares of the company’s stock, valued at approximately $694,668.96. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Eric P. Palmer sold 1,017 shares of the company’s 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 in the company, valued at $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. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CI. Oppenheimer reiterated an “outperform” rating and issued a $360.00 target price on shares of The Cigna Group in a research report on Wednesday, January 17th. Cantor Fitzgerald restated an “overweight” rating and set a $384.00 price objective on shares of The Cigna Group in a research note on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft upgraded The Cigna Group from a “hold” rating to a “buy” rating and upped their price objective for the stock from $355.00 to $370.00 in a research note on Thursday, February 1st. Royal Bank of Canada raised The Cigna Group from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $327.00 to $354.00 in a research note on Monday, February 5th. Finally, Sanford C. Bernstein raised The Cigna Group from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $330.00 to $372.00 in a research note on Thursday, January 4th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $362.14.

The Cigna Group 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.