HBK Sorce Advisory LLC Sells 44 Shares of The Cigna Group (NYSE:CI)

HBK Sorce Advisory LLC lowered its position in shares of The Cigna Group (NYSE:CI) by 3.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,134 shares of the health services provider’s stock after selling 44 shares during the period. HBK Sorce Advisory LLC’s holdings in The Cigna Group were worth $340,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in CI. Axiom Financial Strategies LLC bought a new stake in The Cigna Group in the 1st quarter worth approximately $212,000. Fairfield Bush & CO. bought a new stake in The Cigna Group in the 1st quarter worth approximately $40,000. Cibc World Market Inc. grew its position in The Cigna Group by 52.6% in the 1st quarter. Cibc World Market Inc. now owns 18,975 shares of the health services provider’s stock worth $4,547,000 after purchasing an additional 6,538 shares during the period. Vontobel Holding Ltd. grew its position in The Cigna Group by 6.5% in the 1st quarter. Vontobel Holding Ltd. now owns 9,212 shares of the health services provider’s stock worth $2,265,000 after purchasing an additional 566 shares during the period. Finally, Sequoia Financial Advisors LLC grew its position in The Cigna Group by 36.5% in the 1st quarter. Sequoia Financial Advisors LLC now owns 1,283 shares of the health services provider’s stock worth $307,000 after purchasing an additional 343 shares during the period. Institutional investors own 86.99% of the company’s stock.

Analyst Upgrades and Downgrades

CI has been the topic of several analyst reports. StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 14th. Sanford C. Bernstein upgraded shares of The Cigna Group from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $330.00 to $372.00 in a research note on Thursday, January 4th. Oppenheimer reiterated an “outperform” rating and set a $360.00 price target on shares of The Cigna Group in a research note on Wednesday, January 17th. Wells Fargo & Company lifted their price target on shares of The Cigna Group from $334.00 to $348.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 6th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $392.00 price target (up previously from $382.00) on shares of The Cigna Group in a research note on Monday, March 4th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $362.14.

Insider Transactions at The Cigna Group

In other news, CEO David Cordani sold 31,209 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $355.17, for a total value of $11,084,500.53. Following the sale, the chief executive officer now directly owns 348,054 shares in the company, valued at approximately $123,618,339.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Eric P. Palmer sold 6,083 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $340.00, for a total transaction of $2,068,220.00. Following the transaction, the insider now directly owns 44,649 shares in the company, valued at approximately $15,180,660. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Cordani sold 31,209 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $355.17, for a total transaction of $11,084,500.53. Following the transaction, the chief executive officer now owns 348,054 shares in the company, valued at $123,618,339.18. The disclosure for this sale can be found here. Insiders have sold a total of 114,144 shares of company stock worth $39,296,330 in the last three months. Insiders own 0.70% of the company’s stock.

The Cigna Group Stock Up 0.1 %

Shares of CI stock opened at $357.84 on Thursday. The company’s fifty day simple moving average is $345.06 and its two-hundred day simple moving average is $312.72. 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 stock has a market cap of $104.62 billion, a P/E ratio of 20.58, a PEG ratio of 1.10 and a beta of 0.56.

The Cigna Group (NYSE:CI) last posted its earnings results on Friday, February 2nd. The health services provider reported $6.79 earnings per share for the quarter, topping analysts’ consensus estimates of $6.54 by $0.25. The Cigna Group had a net margin of 2.64% and a return on equity of 13.59%. The firm had revenue of $51.15 billion for the quarter, compared to the consensus estimate of $48.91 billion. During the same period in the previous year, the firm posted $4.96 EPS. The business’s quarterly revenue was up 11.8% on a year-over-year basis. Analysts predict that The Cigna Group will post 28.36 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th were issued a $1.40 dividend. The ex-dividend date was Tuesday, March 5th. This is an increase from The Cigna Group’s previous quarterly dividend of $1.23. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.56%. The Cigna Group’s payout ratio is 32.20%.

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.