Transcend Capital Advisors LLC Cuts Stock Position in The Cigna Group (NYSE:CI)

Transcend Capital Advisors LLC lessened its holdings in The Cigna Group (NYSE:CI) by 1.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,750 shares of the health services provider’s stock after selling 60 shares during the period. Transcend Capital Advisors LLC’s holdings in The Cigna Group were worth $1,123,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CI. Strategic Blueprint LLC increased its stake in The Cigna Group by 4.8% during the 3rd quarter. Strategic Blueprint LLC now owns 784 shares of the health services provider’s stock worth $224,000 after buying an additional 36 shares during the period. PDS Planning Inc increased its stake in The Cigna Group by 2.0% during the 3rd quarter. PDS Planning Inc now owns 2,422 shares of the health services provider’s stock worth $693,000 after buying an additional 47 shares during the period. Trinity Street Asset Management LLP increased its stake in The Cigna Group by 2.9% during the 3rd quarter. Trinity Street Asset Management LLP now owns 61,347 shares of the health services provider’s stock worth $17,550,000 after buying an additional 1,751 shares during the period. Commonwealth Equity Services LLC increased its stake in The Cigna Group by 5.9% during the 3rd quarter. Commonwealth Equity Services LLC now owns 93,273 shares of the health services provider’s stock worth $26,683,000 after buying an additional 5,204 shares during the period. Finally, Busey Trust CO increased its stake in The Cigna Group by 2.5% during the 3rd quarter. Busey Trust CO now owns 53,046 shares of the health services provider’s stock worth $15,175,000 after buying an additional 1,286 shares during the period. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Insider Buying and Selling

In related news, CEO David Cordani sold 31,209 shares of the business’s 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 approximately $123,618,339.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Eric P. Palmer sold 6,083 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $340.00, for a total transaction of $2,068,220.00. Following the sale, the insider now owns 44,649 shares in the company, valued at $15,180,660. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David Cordani sold 31,209 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $355.17, for a total transaction of $11,084,500.53. Following the sale, the chief executive officer now owns 348,054 shares in the company, valued at approximately $123,618,339.18. The disclosure for this sale can be found here. Insiders have sold 114,144 shares of company stock worth $39,296,330 in the last ninety days. 0.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CI. Morgan Stanley reaffirmed an “overweight” rating and set a $392.00 price target (up previously from $382.00) on shares of The Cigna Group in a research note on Monday, March 4th. Oppenheimer reissued an “outperform” rating and issued a $360.00 target price on shares of The Cigna Group in a research report on Wednesday, January 17th. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 14th. Cantor Fitzgerald reissued an “overweight” rating and issued a $384.00 target price on shares of The Cigna Group in a research report on Wednesday, April 10th. Finally, Barclays began coverage on shares of The Cigna Group in a research report on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 target price for the company. Two 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 company’s stock. Based on data from MarketBeat.com, The Cigna Group presently has an average rating of “Buy” and a consensus target price of $362.14.

The Cigna Group Stock Down 0.0 %

CI stock opened at $354.47 on Monday. The Cigna Group has a 52 week low of $240.50 and a 52 week high of $365.71. The company has a market capitalization of $103.63 billion, a price-to-earnings ratio of 20.38, a price-to-earnings-growth ratio of 1.09 and a beta of 0.56. The firm’s 50-day moving average is $349.88 and its two-hundred day moving average is $318.15. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.61.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Friday, February 2nd. The health services provider reported $6.79 EPS for the quarter, topping analysts’ consensus estimates of $6.54 by $0.25. The Cigna Group had a net margin of 2.64% and a return on equity of 13.59%. The company had revenue of $51.15 billion for the quarter, compared to the consensus estimate of $48.91 billion. During the same period in the previous year, the firm earned $4.96 EPS. The Cigna Group’s revenue was up 11.8% on a year-over-year basis. On average, analysts forecast that The Cigna Group will post 28.36 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.58%. The Cigna Group’s payout ratio is currently 32.20%.

The Cigna Group Company 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.