The Cigna Group (NYSE:CI) Shares Sold by Amalgamated Bank

Amalgamated Bank cut its position in The Cigna Group (NYSE:CI) by 5.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 71,613 shares of the health services provider’s stock after selling 4,337 shares during the period. Amalgamated Bank’s holdings in The Cigna Group were worth $21,445,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of CI. FMR LLC boosted its holdings in The Cigna Group by 13.8% in the third quarter. FMR LLC now owns 15,967,363 shares of the health services provider’s stock valued at $4,567,783,000 after purchasing an additional 1,939,554 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in The Cigna Group by 3.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 11,833,753 shares of the health services provider’s stock worth $3,385,282,000 after acquiring an additional 345,605 shares during the period. Morgan Stanley raised 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 valued at $1,422,657,000 after acquiring an additional 225,115 shares in the last quarter. Northern Trust Corp lifted its holdings in The Cigna Group by 5.9% in the third quarter. Northern Trust Corp now owns 3,244,157 shares of the health services provider’s stock valued at $928,056,000 after acquiring an additional 181,385 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in The Cigna Group by 2.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,570,994 shares of the health services provider’s stock worth $735,484,000 after purchasing an additional 72,714 shares in the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO David Cordani sold 38,065 shares of The Cigna Group stock in a transaction that occurred 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 sale, the chief executive officer now owns 329,321 shares of the company’s stock, valued at approximately $110,394,985.62. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO David Cordani sold 38,065 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 329,321 shares in the company, valued at approximately $110,394,985.62. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the completion of the sale, the senior vice president now owns 2,102 shares in the company, valued at $694,668.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 114,144 shares of company stock worth $39,296,330. Insiders own 0.60% of the company’s stock.

The Cigna Group Price Performance

CI traded down $3.05 during trading on Friday, reaching $341.45. The company’s stock had a trading volume of 2,413,542 shares, compared to its average volume of 1,593,263. The company has a market cap of $99.83 billion, a price-to-earnings ratio of 19.64, a PEG ratio of 1.09 and a beta of 0.57. The firm has a fifty day simple moving average of $350.82 and a two-hundred day simple moving average of $319.39. The Cigna Group has a 1 year low of $240.50 and a 1 year 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 announced its quarterly earnings data on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, topping analysts’ consensus estimates of $6.17 by $0.30. The firm had revenue of $57.25 billion for the quarter, compared to the consensus estimate of $56.59 billion. The Cigna Group had a return on equity of 13.59% and a net margin of 2.64%. The firm’s revenue was up 23.2% compared to the same quarter last year. During the same quarter last year, the business posted $5.41 earnings per share. As a group, analysts anticipate that The Cigna Group will post 28.36 EPS for the current year.

The Cigna Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Tuesday, June 4th will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend is Tuesday, June 4th. The Cigna Group’s dividend payout ratio is currently 32.20%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on CI shares. Royal Bank of Canada upgraded The Cigna Group from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $327.00 to $354.00 in a research report on Monday, February 5th. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 14th. Barclays initiated coverage on The Cigna Group in a research report on Wednesday, March 6th. They set an “overweight” rating and a $393.00 target price on the stock. Sanford C. Bernstein raised shares of The Cigna Group from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $330.00 to $372.00 in a report on Thursday, January 4th. Finally, Cantor Fitzgerald increased their price objective on shares of The Cigna Group from $384.00 to $400.00 and gave the company an “overweight” rating in a report on Friday. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $366.14.

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.