Venture Visionary Partners LLC Sells 373 Shares of The Cigna Group (NYSE:CI)

Venture Visionary Partners LLC reduced its position in The Cigna Group (NYSE:CI) by 12.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,661 shares of the health services provider’s stock after selling 373 shares during the quarter. Venture Visionary Partners LLC’s holdings in The Cigna Group were worth $797,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Bogart Wealth LLC raised its holdings in The Cigna Group by 104.5% in the third quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock worth $26,000 after purchasing an additional 46 shares in the last quarter. OFI Invest Asset Management bought a new position in The Cigna Group in the third quarter worth about $26,000. Fairfield Bush & CO. bought a new position in The Cigna Group in the second quarter worth about $28,000. Fortitude Family Office LLC bought a new position in The Cigna Group in the fourth quarter worth about $29,000. Finally, Optimum Investment Advisors increased its holdings in shares of The Cigna Group by 110.0% during the third quarter. Optimum Investment Advisors now owns 105 shares of the health services provider’s stock valued at $30,000 after acquiring an additional 55 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO David Cordani sold 38,065 shares of the 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 transaction, the chief executive officer now owns 329,321 shares in the company, valued at approximately $110,394,985.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the stock in a transaction on 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 completion of the transaction, the senior vice president now directly owns 2,102 shares of the company’s stock, valued at approximately $694,668.96. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO David Cordani sold 38,065 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $335.22, for a total value of $12,760,149.30. Following the completion of the transaction, the chief executive officer now directly 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 90 days, insiders have sold 114,144 shares of company stock worth $39,296,330. Corporate insiders own 0.60% of the company’s stock.

The Cigna Group Price Performance

Shares of NYSE CI opened at $362.45 on Friday. The business’s 50 day moving average price is $341.57 and its 200 day moving average price is $311.28. The firm has a market cap of $105.97 billion, a P/E ratio of 20.84, a P/E/G ratio of 1.11 and a beta of 0.56. The Cigna Group has a 52 week low of $240.50 and a 52 week high of $365.71. 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 Cigna Group (NYSE:CI) last released its quarterly earnings data on Friday, February 2nd. The health services provider reported $6.79 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $48.91 billion. During the same quarter in the prior year, the firm posted $4.96 EPS. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. On average, sell-side analysts expect that The Cigna Group will post 28.36 earnings per share for the current year.

The Cigna Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th were given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend was Tuesday, March 5th. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.23. The Cigna Group’s dividend payout ratio is currently 32.20%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CI shares. Barclays started coverage on shares of The Cigna Group in a report on Wednesday, March 6th. They set an “overweight” rating and a $393.00 price objective on the stock. Mizuho upped their price objective on shares of The Cigna Group from $360.00 to $370.00 and gave the company a “buy” rating in a report on Monday, February 5th. Wells Fargo & Company upped their price objective on shares of The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. Morgan Stanley restated an “overweight” rating and set a $392.00 price objective (up previously from $382.00) on shares of The Cigna Group in a report on Monday, March 4th. Finally, Sanford C. Bernstein upgraded shares of The Cigna Group from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $330.00 to $372.00 in a report 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 issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $361.29.

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.