Wellington Management Group LLP Sells 932 Shares of The Cigna Group (NYSE:CI)

Wellington Management Group LLP decreased its stake in The Cigna Group (NYSE:CI) by 16.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,892 shares of the health services provider’s stock after selling 932 shares during the period. Wellington Management Group LLP’s holdings in The Cigna Group were worth $1,399,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Axiom Financial Strategies LLC bought a new position in shares of The Cigna Group during the 1st quarter valued at $212,000. Fairfield Bush & CO. bought a new position in shares of The Cigna Group during the 1st quarter valued at $40,000. Cibc World Market Inc. grew its holdings in shares of 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 valued at $4,547,000 after purchasing an additional 6,538 shares during the last quarter. Vontobel Holding Ltd. grew its holdings in shares of 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 valued at $2,265,000 after purchasing an additional 566 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted its position 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 valued at $307,000 after buying an additional 343 shares during the period. Institutional investors own 86.99% of the company’s stock.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, CEO David Cordani sold 38,065 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $335.22, for a total transaction of $12,760,149.30. Following the completion of the sale, the chief executive officer now directly owns 329,321 shares in the company, valued at approximately $110,394,985.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of The Cigna Group stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total value of $1,608,446.16. Following the completion of the sale, the senior vice president now directly owns 2,102 shares in the company, valued at $694,668.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David Cordani sold 38,065 shares of The Cigna Group stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $335.22, for a total transaction of $12,760,149.30. Following the completion of the sale, the chief executive officer now owns 329,321 shares of the company’s stock, valued at $110,394,985.62. The disclosure for this sale can be found here. In the last ninety days, insiders sold 114,144 shares of company stock worth $39,296,330. 0.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CI has been the subject of several analyst reports. Royal Bank of Canada raised shares of The Cigna Group from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $327.00 to $354.00 in a research report on Monday, February 5th. Morgan Stanley reissued an “overweight” rating and set a $392.00 price target (up previously from $382.00) on shares of The Cigna Group in a research report on Monday, March 4th. Cantor Fitzgerald reissued an “overweight” rating and set a $372.00 price target on shares of The Cigna Group in a research report on Monday, March 4th. Mizuho increased their price target on shares of The Cigna Group from $360.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, February 5th. Finally, Barclays assumed coverage on shares of The Cigna Group in a research report on Wednesday, March 6th. They set an “overweight” rating and a $393.00 price target for the company. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $361.29.

The Cigna Group Trading Down 0.0 %

Shares of NYSE CI opened at $363.19 on Friday. The Cigna Group has a 1 year low of $240.50 and a 1 year high of $365.71. The stock has a market cap of $106.18 billion, a P/E ratio of 20.89, a price-to-earnings-growth ratio of 1.10 and a beta of 0.55. The firm has a 50-day moving average of $333.26 and a 200 day moving average of $307.47. 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 Cigna Group (NYSE:CI) last issued its quarterly earnings results 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 company had revenue of $51.15 billion during the quarter, compared to analysts’ expectations of $48.91 billion. The Cigna Group had a net margin of 2.64% and a return on equity of 13.59%. The Cigna Group’s revenue was up 11.8% on a year-over-year basis. During the same period last year, the company posted $4.96 EPS. As a group, sell-side analysts expect that The Cigna Group will post 28.36 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th were paid a dividend of $1.40 per share. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.23. This represents a $5.60 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend was Tuesday, March 5th. The Cigna Group’s dividend payout ratio (DPR) is currently 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.