EverSource Wealth Advisors LLC Sells 61 Shares of The Cigna Group (NYSE:CI)

EverSource Wealth Advisors LLC trimmed its holdings in The Cigna Group (NYSE:CI) by 5.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 982 shares of the health services provider’s stock after selling 61 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in The Cigna Group were worth $294,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fortitude Family Office LLC bought a new stake in The Cigna Group during the fourth quarter worth $29,000. VisionPoint Advisory Group LLC boosted its stake in The Cigna Group by 112.2% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock worth $30,000 after purchasing an additional 55 shares during the period. Pacifica Partners Inc. boosted its position in shares of The Cigna Group by 73.2% in the fourth quarter. Pacifica Partners Inc. now owns 142 shares of the health services provider’s stock valued at $43,000 after acquiring an additional 60 shares during the period. MeadowBrook Investment Advisors LLC bought a new position in shares of The Cigna Group in the fourth quarter valued at approximately $43,000. Finally, Cape Investment Advisory Inc. boosted its position in shares of The Cigna Group by 50.9% in the third quarter. Cape Investment Advisory Inc. now owns 166 shares of the health services provider’s stock valued at $47,000 after acquiring an additional 56 shares during the period. 86.99% of the stock is currently owned by institutional investors.

The Cigna Group Stock Performance

The Cigna Group stock traded down $3.63 during midday trading on Friday, hitting $334.20. The stock had a trading volume of 198,258 shares, compared to its average volume of 1,575,274. The firm’s fifty day moving average is $351.38 and its two-hundred day moving average is $322.97. The company has a market capitalization of $94.94 billion, a PE ratio of 27.74, a P/E/G ratio of 1.03 and a beta of 0.57. The Cigna Group has a 52-week low of $240.50 and a 52-week high of $365.71. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.75.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, beating analysts’ consensus estimates of $6.17 by $0.30. The firm had revenue of $57.25 billion during the quarter, compared to the consensus estimate of $56.59 billion. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period in the prior year, the company earned $5.41 EPS. On average, research analysts forecast that The Cigna Group will post 28.47 EPS for the current year.

The Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th will be paid a $1.40 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.68%. The Cigna Group’s payout ratio is 45.98%.

Analyst Upgrades and Downgrades

CI has been the topic of several research reports. Morgan Stanley reissued an “overweight” rating and set a $392.00 price target (up from $382.00) on shares of The Cigna Group in a research note on Monday, March 4th. Wells Fargo & Company boosted their target price 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. Oppenheimer boosted their target price on shares of The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Cantor Fitzgerald upped their price target on shares of The Cigna Group from $384.00 to $400.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. Finally, StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 14th. Two research 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 company’s stock. According to data from MarketBeat.com, The Cigna Group has an average rating of “Buy” and an average target price of $366.14.

Insiders Place Their Bets

In other news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $348.71, for a total transaction of $2,073,429.66. Following the transaction, the senior vice president now owns 2,595 shares in the company, valued at $904,902.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Noelle K. Eder sold 10,700 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $348.47, for a total transaction of $3,728,629.00. Following the sale, the insider now owns 15,824 shares of the company’s stock, valued at $5,514,189.28. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $348.71, for a total value of $2,073,429.66. Following the sale, the senior vice president now directly owns 2,595 shares in the company, valued at approximately $904,902.45. The disclosure for this sale can be found here. Insiders have sold a total of 72,366 shares of company stock worth $25,440,835 over the last quarter. Company insiders own 0.60% of the company’s stock.

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.