Connecticut Wealth Management LLC Trims Stock Position in The Cigna Group (NYSE:CI)

Connecticut Wealth Management LLC trimmed its holdings in shares of The Cigna Group (NYSE:CI) by 2.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,325 shares of the health services provider’s stock after selling 189 shares during the quarter. Connecticut Wealth Management LLC’s holdings in The Cigna Group were worth $1,894,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Avidian Wealth Solutions LLC grew its position in shares of The Cigna Group by 3.1% in the 4th quarter. Avidian Wealth Solutions LLC now owns 2,401 shares of the health services provider’s stock valued at $719,000 after buying an additional 73 shares during the last quarter. Measured Wealth Private Client Group LLC grew its holdings in The Cigna Group by 7.5% during the 4th quarter. Measured Wealth Private Client Group LLC now owns 1,714 shares of the health services provider’s stock valued at $513,000 after buying an additional 119 shares during the last quarter. FourThought Financial Partners LLC raised its stake in The Cigna Group by 6.3% in the 4th quarter. FourThought Financial Partners LLC now owns 1,787 shares of the health services provider’s stock valued at $535,000 after purchasing an additional 106 shares during the last quarter. TCG Advisory Services LLC acquired a new position in The Cigna Group in the 4th quarter valued at $542,000. Finally, Vestmark Advisory Solutions Inc. acquired a new position in shares of The Cigna Group during the 4th quarter valued at about $1,218,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Stock Down 0.9 %

Shares of NYSE CI traded down $3.00 during midday trading on Friday, reaching $341.50. The company’s stock had a trading volume of 2,413,548 shares, compared to its average volume of 1,380,653. The stock has a 50 day simple moving average of $350.77 and a 200-day simple moving average of $319.59. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $99.84 billion, a price-to-earnings ratio of 28.04, a PEG ratio of 1.05 and a beta of 0.57. The Cigna Group has a fifty-two week low of $240.50 and a fifty-two week high of $365.71.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.17 by $0.30. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The business had revenue of $57.25 billion for the quarter, compared to the consensus estimate of $56.59 billion. During the same quarter in the previous year, the business earned $5.41 earnings per share. The Cigna Group’s quarterly revenue was up 23.2% on a year-over-year basis. Equities research analysts predict that The Cigna Group will post 28.4 earnings per share for the current year.

The Cigna Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.64%. The ex-dividend date is Tuesday, June 4th. The Cigna Group’s dividend payout ratio (DPR) is currently 45.98%.

Analyst Ratings Changes

CI has been the subject of a number of research analyst reports. Royal Bank of Canada upgraded The Cigna Group from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $327.00 to $354.00 in a report on Monday, February 5th. Morgan Stanley reissued 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. Mizuho boosted their price objective on The Cigna Group from $360.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, February 5th. 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 target on the stock. Finally, Cantor Fitzgerald boosted their target price on shares of The Cigna Group from $384.00 to $400.00 and gave the stock an “overweight” rating in a research report on Friday. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $366.14.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, CEO David Cordani sold 38,065 shares of The Cigna Group stock in a transaction on 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 transaction, the chief executive officer now directly owns 329,321 shares of the company’s stock, valued at $110,394,985.62. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO David Cordani sold 38,065 shares of the business’s 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 in the company, valued at $110,394,985.62. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Eric P. Palmer sold 6,083 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $340.00, for a total value of $2,068,220.00. Following the completion of the transaction, the insider now directly owns 44,649 shares in the company, valued at $15,180,660. The disclosure for this sale can be found here. Insiders sold a total of 114,144 shares of company stock worth $39,296,330 over the last quarter. 0.60% of the stock is currently owned by insiders.

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.