David Cordani Sells 6,338 Shares of The Cigna Group (NYSE:CI) Stock

The Cigna Group (NYSE:CIGet Free Report) CEO David Cordani sold 6,338 shares of the company’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $355.11, for a total value of $2,250,687.18. Following the completion of the transaction, the chief executive officer now owns 348,054 shares of the company’s stock, valued at $123,597,455.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

David Cordani also recently made the following trade(s):

  • On Monday, March 25th, David Cordani sold 31,209 shares of The Cigna Group stock. The shares were sold at an average price of $355.17, for a total value of $11,084,500.53.
  • On Wednesday, March 13th, David Cordani sold 13,761 shares of The Cigna Group stock. The shares were sold at an average price of $347.33, for a total value of $4,779,608.13.
  • On Thursday, March 7th, David Cordani sold 2,412 shares of The Cigna Group stock. The shares were sold at an average price of $345.73, for a total value of $833,900.76.
  • On Tuesday, February 27th, David Cordani sold 2,000 shares of The Cigna Group stock. The stock was sold at an average price of $345.04, for a total value of $690,080.00.
  • On Friday, February 23rd, David Cordani sold 6,319 shares of The Cigna Group stock. The stock was sold at an average price of $345.24, for a total value of $2,181,571.56.
  • On Monday, February 12th, David Cordani sold 2,073 shares of The Cigna Group stock. The stock was sold at an average price of $336.81, for a total value of $698,207.13.
  • On Friday, February 9th, David Cordani sold 38,065 shares of The Cigna Group stock. The stock was sold at an average price of $335.22, for a total value of $12,760,149.30.

The Cigna Group Trading Up 0.6 %

NYSE CI opened at $357.73 on Wednesday. The firm has a market cap of $104.59 billion, a P/E ratio of 20.57, a P/E/G ratio of 1.08 and a beta of 0.55. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.67. The stock’s 50-day moving average is $331.14 and its 200-day moving average is $306.54. The Cigna Group has a one year low of $240.50 and a one year high of $359.83.

The Cigna Group (NYSE:CIGet Free Report) last released its quarterly earnings results on Friday, February 2nd. The health services provider reported $6.79 EPS for the quarter, topping analysts’ consensus estimates of $6.54 by $0.25. The company had revenue of $51.15 billion for the quarter, compared to analyst estimates of $48.91 billion. The Cigna Group had a return on equity of 13.59% and a net margin of 2.64%. The Cigna Group’s revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the firm posted $4.96 earnings per share. Sell-side analysts anticipate that The Cigna Group will post 28.36 earnings per share for the current fiscal 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 given a dividend of $1.40 per share. The ex-dividend date was Tuesday, March 5th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.57%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.23. The Cigna Group’s dividend payout ratio (DPR) is currently 32.20%.

Institutional Investors Weigh In On The Cigna Group

Hedge funds have recently modified their holdings of the business. Bogart Wealth LLC raised its position in The Cigna Group by 104.5% in the 3rd quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock valued at $26,000 after buying an additional 46 shares during the last quarter. OFI Invest Asset Management acquired a new stake in The Cigna Group in the 3rd quarter valued at approximately $26,000. Main Street Group LTD acquired a new stake in The Cigna Group in the 4th quarter valued at approximately $28,000. Fairfield Bush & CO. acquired a new stake in The Cigna Group in the 2nd quarter valued at approximately $28,000. Finally, Fortitude Family Office LLC acquired a new stake in The Cigna Group in the 4th quarter valued at approximately $29,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

CI has been the topic of several research analyst reports. Wells Fargo & Company increased their target price on The Cigna Group from $334.00 to $348.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. Barclays initiated coverage on The Cigna Group in a report on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 price target on the stock. Jefferies Financial Group upgraded The Cigna Group from a “hold” rating to a “buy” rating and raised their price target for the company from $335.00 to $341.00 in a report on Monday, December 11th. Oppenheimer reiterated an “outperform” rating and issued a $360.00 price target on shares of The Cigna Group in a report on Wednesday, January 17th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $392.00 price target (up previously from $382.00) on shares of The Cigna Group in a report on Monday, March 4th. Two 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. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $361.29.

View Our Latest Stock Analysis on CI

About The Cigna Group

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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.

Further Reading

Insider Buying and Selling by Quarter for The Cigna Group (NYSE:CI)

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