754 Shares in The Cigna Group (NYSE:CI) Purchased by City National Bank of Florida MSD

City National Bank of Florida MSD acquired a new stake in shares of The Cigna Group (NYSE:CI) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 754 shares of the health services provider’s stock, valued at approximately $208,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. TCTC Holdings LLC acquired a new stake in shares of The Cigna Group during the fourth quarter worth $25,000. Collier Financial purchased a new position in The Cigna Group during the 4th quarter worth $32,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of The Cigna Group in the 4th quarter worth $37,000. Transce3nd LLC purchased a new stake in shares of The Cigna Group in the fourth quarter valued at about $38,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of The Cigna Group during the fourth quarter worth about $53,000. 86.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Nicole S. Jones sold 4,904 shares of The Cigna Group stock in a transaction on Monday, March 3rd. The stock was 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 of the company’s stock, valued at $9,065,198.52. The trade was a 14.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David Cordani sold 26,527 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $8,173,499.24. Following the transaction, the chief executive officer now owns 127,767 shares in the company, valued at $39,367,568.04. This trade represents a 17.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,751 shares of company stock valued at $13,603,991 over the last 90 days. Insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Robert W. Baird reduced their price objective on shares of The Cigna Group from $388.00 to $362.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. Oppenheimer reduced their price target on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a report on Friday, January 31st. Barclays lifted their price target on The Cigna Group from $339.00 to $382.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. Royal Bank of Canada set a $355.00 price objective on The Cigna Group in a research report on Friday, January 31st. Finally, Stephens decreased their target price on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, The Cigna Group currently has a consensus rating of “Buy” and a consensus target price of $379.33.

The Cigna Group Price Performance

CI stock opened at $312.66 on Friday. The stock’s 50 day moving average price is $325.46 and its 200 day moving average price is $310.07. The firm has a market cap of $83.53 billion, a P/E ratio of 25.54, a PEG ratio of 0.98 and a beta of 0.47. 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 has a 1 year low of $262.03 and a 1 year high of $370.83.

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

The Cigna Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be issued a dividend of $1.51 per share. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.93%. The Cigna Group’s dividend payout ratio (DPR) is presently 33.44%.

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.