Alpha Cubed Investments LLC Sells 441 Shares of The Cigna Group (NYSE:CI)

Alpha Cubed Investments LLC lowered its position in The Cigna Group (NYSE:CI) by 24.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,370 shares of the health services provider’s stock after selling 441 shares during the period. Alpha Cubed Investments LLC’s holdings in The Cigna Group were worth $410,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Eads & Heald Wealth Management grew its stake in shares of The Cigna Group by 1.7% in the 3rd quarter. Eads & Heald Wealth Management now owns 2,123 shares of the health services provider’s stock worth $607,000 after buying an additional 35 shares during the last quarter. Relyea Zuckerberg Hanson LLC grew its stake in shares of The Cigna Group by 3.2% in the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 1,113 shares of the health services provider’s stock worth $333,000 after buying an additional 35 shares during the last quarter. E&G Advisors LP grew its stake in shares of The Cigna Group by 1.8% in the 3rd quarter. E&G Advisors LP now owns 2,137 shares of the health services provider’s stock worth $611,000 after buying an additional 37 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in The Cigna Group by 1.4% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,822 shares of the health services provider’s stock valued at $807,000 after purchasing an additional 39 shares during the last quarter. Finally, Breakwater Capital Group boosted its stake in The Cigna Group by 3.5% during the 4th quarter. Breakwater Capital Group now owns 1,144 shares of the health services provider’s stock valued at $349,000 after purchasing an additional 39 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CI. Barclays began coverage on The Cigna Group in a research note on Wednesday, March 6th. They set an “overweight” rating and a $393.00 target price on the stock. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 14th. Wells Fargo & Company increased their target price on The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 6th. Sanford C. Bernstein upgraded The Cigna Group from a “market perform” rating to an “outperform” rating and increased their target price for the company from $330.00 to $372.00 in a research note on Thursday, January 4th. Finally, Royal Bank of Canada raised The Cigna Group from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $327.00 to $354.00 in a report on Monday, February 5th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $362.14.

The Cigna Group Price Performance

Shares of The Cigna Group stock opened at $349.02 on Wednesday. The Cigna Group has a one year low of $240.50 and a one year high of $365.71. The stock’s fifty day moving average is $350.50 and its 200 day moving average is $318.94. The stock has a market cap of $102.04 billion, a P/E ratio of 20.54, a P/E/G ratio of 1.09 and a beta of 0.56. 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 (NYSE:CI) last announced its 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 return on equity of 13.59% and a net margin of 2.64%. The company had revenue of $51.15 billion for the quarter, compared to analysts’ expectations of $48.91 billion. During the same period last year, the firm earned $4.96 EPS. The Cigna Group’s revenue for the quarter was up 11.8% compared to the same quarter last year. Sell-side analysts anticipate that The Cigna Group will post 28.36 earnings per share for the current year.

The Cigna Group Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 1.60%. The Cigna Group’s dividend payout ratio is presently 32.20%.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the firm’s stock in a transaction dated 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 legal filing with the SEC, which is available through this hyperlink. In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the firm’s stock in a transaction dated 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 legal filing with the SEC, which is available through this hyperlink. Also, CEO David Cordani sold 31,209 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 348,054 shares of the company’s stock, valued at approximately $123,618,339.18. The disclosure for this sale can be found here. Insiders have sold a total of 114,144 shares of company stock valued at $39,296,330 over the last ninety days. 0.70% of the stock is currently owned by company insiders.

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.