The Cigna Group (NYSE:CI) Shares Sold by Islay Capital Management LLC

Islay Capital Management LLC cut its stake in shares of The Cigna Group (NYSE:CI) by 2.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,442 shares of the health services provider’s stock after selling 35 shares during the quarter. Islay Capital Management LLC’s holdings in The Cigna Group were worth $432,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. FMR LLC grew its holdings in shares of The Cigna Group by 13.8% during 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% in the 3rd 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 buying an additional 345,605 shares in the last quarter. Morgan Stanley increased its position in The Cigna Group by 4.7% in the 3rd 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 during the period. Northern Trust Corp increased its position in The Cigna Group by 5.9% in the 3rd 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 increased 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 valued at $735,484,000 after acquiring an additional 72,714 shares during the period. 86.99% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on CI shares. Sanford C. Bernstein upgraded The Cigna Group from a “market perform” rating to an “outperform” rating and raised their target price for the company from $330.00 to $372.00 in a research report on Thursday, January 4th. Barclays initiated coverage on The Cigna Group in a research report on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 target price on the stock. Royal Bank of Canada upgraded The Cigna Group from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $327.00 to $354.00 in a research report on Monday, February 5th. Mizuho lifted their price target on The Cigna Group from $360.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, February 5th. Finally, Oppenheimer reiterated an “outperform” rating and set a $360.00 price target on shares of The Cigna Group in a research report on Wednesday, January 17th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $362.14.

The Cigna Group Stock Up 0.3 %

Shares of NYSE:CI traded up $0.92 during midday trading on Tuesday, hitting $357.36. 381,130 shares of the stock were exchanged, compared to its average volume of 1,550,803. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.67 and a current ratio of 0.67. The Cigna Group has a 52-week low of $240.50 and a 52-week high of $365.71. The business’s fifty day simple moving average is $350.19 and its two-hundred day simple moving average is $318.58. The company has a market capitalization of $104.48 billion, a PE ratio of 20.49, a P/E/G ratio of 1.09 and a beta of 0.56.

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

The Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th will be issued a dividend of $1.40 per share. The ex-dividend date is Tuesday, June 4th. This represents a $5.60 annualized dividend and a yield of 1.57%. The Cigna Group’s dividend payout ratio (DPR) is currently 32.20%.

Insider Transactions at The Cigna Group

In other news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of The Cigna Group stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total value of $1,608,446.16. Following the transaction, the senior vice president now directly owns 2,102 shares in the company, valued at $694,668.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of The Cigna Group stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the sale, the senior vice president now directly owns 2,102 shares of the company’s stock, valued at $694,668.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Cordani sold 31,209 shares of The Cigna Group stock in a transaction that occurred on 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 $123,618,339.18. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 114,144 shares of company stock worth $39,296,330. Company insiders own 0.70% of the company’s stock.

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.