First Trust Advisors LP Sells 5,965 Shares of The Cigna Group (NYSE:CI)

First Trust Advisors LP trimmed its stake in shares of The Cigna Group (NYSE:CIFree Report) by 4.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 138,899 shares of the health services provider’s stock after selling 5,965 shares during the quarter. First Trust Advisors LP’s holdings in The Cigna Group were worth $41,593,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. FMR LLC lifted its position in shares of The Cigna Group by 13.8% during the 3rd quarter. FMR LLC now owns 15,967,363 shares of the health services provider’s stock valued at $4,567,783,000 after acquiring an additional 1,939,554 shares during the period. Sanders Capital LLC lifted its position in shares of The Cigna Group by 1.3% during the 4th quarter. Sanders Capital LLC now owns 7,727,729 shares of the health services provider’s stock valued at $2,314,068,000 after acquiring an additional 97,277 shares during the period. Morgan Stanley lifted its position in shares of The Cigna Group by 4.7% during 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. Norges Bank bought a new stake in shares of The Cigna Group during the 4th quarter valued at $1,006,348,000. Finally, Northern Trust Corp lifted its position in shares of The Cigna Group by 5.9% during 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. 86.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CI. StockNews.com downgraded The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 3rd. Baird R W upgraded The Cigna Group to a “strong-buy” rating in a research report on Thursday, May 30th. Robert W. Baird began coverage on The Cigna Group in a research report on Thursday, May 30th. They set an “outperform” rating and a $388.00 price objective for the company. Cantor Fitzgerald upped their price objective on The Cigna Group from $384.00 to $400.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Finally, Oppenheimer upped their price objective on The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $373.87.

View Our Latest Report on CI

The Cigna Group Trading Up 0.1 %

Shares of CI stock opened at $338.10 on Friday. The stock has a market cap of $96.04 billion, a price-to-earnings ratio of 27.76, a PEG ratio of 1.03 and a beta of 0.53. The stock has a 50-day moving average of $346.91 and a 200-day moving average of $326.72. 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 has a 1-year low of $253.95 and a 1-year high of $365.71.

The Cigna Group (NYSE:CIGet Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 17.24% and a net margin of 1.76%. The business’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.41 earnings per share. On average, equities research analysts forecast that The Cigna Group will post 28.47 earnings per share for the current year.

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th will be paid a $1.40 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.66%. The Cigna Group’s payout ratio is 45.98%.

Insider Activity at The Cigna Group

In related news, CEO David Cordani sold 13,761 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $347.33, for a total transaction of $4,779,608.13. Following the sale, the chief executive officer now owns 340,438 shares in the company, valued at approximately $118,244,330.54. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO David Cordani sold 13,761 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $347.33, for a total transaction of $4,779,608.13. Following the sale, the chief executive officer now owns 340,438 shares in the company, valued at approximately $118,244,330.54. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Noelle K. Eder sold 10,700 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $348.47, for a total value of $3,728,629.00. Following the sale, the insider now owns 15,824 shares in the company, valued at approximately $5,514,189.28. The disclosure for this sale can be found here. Insiders have sold a total of 67,954 shares of company stock worth $23,916,855 in the last 90 days. Corporate insiders own 0.60% of the company’s stock.

The Cigna Group Company Profile

(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

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Institutional Ownership by Quarter for The Cigna Group (NYSE:CI)

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