Elder Granger Sells 547 Shares of The Cigna Group (NYSE:CI) Stock

The Cigna Group (NYSE:CIGet Free Report) Director Elder Granger sold 547 shares of The Cigna Group stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $331.38, for a total transaction of $181,264.86. Following the completion of the sale, the director now directly owns 5,471 shares in the company, valued at approximately $1,812,979.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Elder Granger also recently made the following trade(s):

  • On Wednesday, June 12th, Elder Granger sold 1,000 shares of The Cigna Group stock. The shares were sold at an average price of $338.08, for a total transaction of $338,080.00.

The Cigna Group Stock Performance

Shares of CI opened at $339.98 on Friday. 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 stock has a market cap of $96.58 billion, a P/E ratio of 27.91, a PEG ratio of 1.02 and a beta of 0.53. The company has a 50-day moving average of $342.40 and a two-hundred day moving average of $330.47. The Cigna Group has a 12-month low of $253.95 and a 12-month high of $365.71.

The Cigna Group (NYSE:CIGet Free Report) last announced its earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.17 by $0.30. The company had revenue of $57.25 billion during the quarter, compared to analysts’ expectations of $56.59 billion. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.41 earnings per share. As a group, research analysts predict that The Cigna Group will post 28.47 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th were given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date was Tuesday, June 4th. The Cigna Group’s dividend payout ratio is presently 45.98%.

Hedge Funds Weigh In On The Cigna Group

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of The Cigna Group by 8.1% in the first quarter. Vanguard Group Inc. now owns 26,793,138 shares of the health services provider’s stock valued at $9,731,000,000 after buying an additional 2,017,333 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in The Cigna Group by 6.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,341,233 shares of the health services provider’s stock worth $5,208,593,000 after purchasing an additional 867,180 shares during the last quarter. Sanders Capital LLC increased its position in The Cigna Group by 1.3% during the fourth quarter. Sanders Capital LLC now owns 7,727,729 shares of the health services provider’s stock worth $2,314,068,000 after purchasing an additional 97,277 shares during the last quarter. Morgan Stanley increased its position in The Cigna Group by 4.7% during the third quarter. Morgan Stanley now owns 4,973,106 shares of the health services provider’s stock worth $1,422,657,000 after purchasing an additional 225,115 shares during the last quarter. Finally, Norges Bank acquired a new position in The Cigna Group during the fourth quarter worth approximately $1,006,348,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CI. Oppenheimer lifted 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. Barclays started coverage on shares of The Cigna Group in a report on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 target price on the stock. Morgan Stanley reissued 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. StockNews.com downgraded shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 12th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of The Cigna Group from $432.00 to $435.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $374.50.

Check Out Our Latest Research Report on The Cigna Group

About The Cigna Group

(Get Free Report)

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.

See Also

Insider Buying and Selling by Quarter for The Cigna Group (NYSE:CI)

Receive News & Ratings for The Cigna Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Cigna Group and related companies with MarketBeat.com's FREE daily email newsletter.