Connecticut Wealth Management LLC Decreases Holdings in The Cigna Group (NYSE:CI)

Connecticut Wealth Management LLC reduced its position in The Cigna Group (NYSE:CI) by 4.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,689 shares of the health services provider’s stock after selling 195 shares during the period. Connecticut Wealth Management LLC’s holdings in The Cigna Group were worth $1,295,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. TCTC Holdings LLC acquired a new stake in The Cigna Group in the 4th quarter valued at about $25,000. Collier Financial purchased a new position in shares of The Cigna Group during the 4th quarter worth approximately $32,000. Compagnie Lombard Odier SCmA acquired a new position in shares of The Cigna Group in the fourth quarter worth $37,000. Transce3nd LLC purchased a new position in The Cigna Group in the 4th quarter valued at about $38,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of The Cigna Group during the 4th quarter worth about $53,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Stock Down 2.4%

Shares of NYSE:CI opened at $317.16 on Thursday. The stock has a 50-day simple moving average of $325.56 and a 200-day simple moving average of $310.07. The stock has a market capitalization of $84.73 billion, a P/E ratio of 25.91, a PEG ratio of 0.98 and a beta of 0.47. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66.

The Cigna Group (NYSE:CI) last announced its earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share for the quarter, beating the consensus estimate of $6.35 by $0.39. The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. The business had revenue of $65.45 billion during the quarter, compared to the consensus estimate of $60.39 billion. During the same period in the prior year, the firm earned $6.47 earnings per share. The business’s quarterly revenue was up 14.4% compared to the same quarter last year. Equities analysts forecast that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be paid a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 1.90%. The ex-dividend date is Tuesday, June 3rd. The Cigna Group’s dividend payout ratio (DPR) is 33.44%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Royal Bank of Canada set a $355.00 price objective on shares of The Cigna Group in a research report on Friday, January 31st. Truist Financial boosted their price target on The Cigna Group from $385.00 to $405.00 and gave the company a “buy” rating in a report on Monday, May 12th. UBS Group decreased their price objective on The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Wells Fargo & Company lowered their price objective on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Finally, Robert W. Baird reduced their target price on The Cigna Group from $388.00 to $362.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 15th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $379.33.

Insider Activity at The Cigna Group

In related news, insider Nicole S. Jones sold 4,904 shares of The Cigna Group stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $1,511,020.48. Following the completion of the sale, the insider now owns 29,421 shares in the company, valued at approximately $9,065,198.52. The trade was a 14.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Noelle K. Eder sold 9,944 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the transaction, the insider now directly owns 13,406 shares of the company’s stock, valued at approximately $4,289,920. This represents a 42.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,751 shares of company stock valued at $13,603,991. Insiders own 0.70% of the company’s stock.

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.