The Cigna Group (NYSE:CI) Shares Sold by First Manhattan CO. LLC.

First Manhattan CO. LLC. cut its position in shares of The Cigna Group (NYSE:CI) by 2.5% during the 4th quarter, Holdings Channel reports. The firm owned 2,327 shares of the health services provider’s stock after selling 59 shares during the period. First Manhattan CO. LLC.’s holdings in The Cigna Group were worth $643,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CI. Sterling Financial Group Inc. acquired a new position in shares of The Cigna Group in the 4th quarter worth $4,367,000. Deroy & Devereaux Private Investment Counsel Inc. grew its holdings in shares of The Cigna Group by 1.1% in the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider’s stock worth $20,942,000 after acquiring an additional 858 shares during the last quarter. Valley Wealth Managers Inc. grew its holdings in shares of The Cigna Group by 2.8% during the fourth quarter. Valley Wealth Managers Inc. now owns 56,933 shares of the health services provider’s stock valued at $15,721,000 after buying an additional 1,548 shares in the last quarter. KBC Group NV grew its holdings in shares of The Cigna Group by 1.5% during the fourth quarter. KBC Group NV now owns 550,638 shares of the health services provider’s stock valued at $152,053,000 after buying an additional 8,077 shares in the last quarter. Finally, Kingsview Wealth Management LLC grew its holdings in shares of The Cigna Group by 11.0% during the fourth quarter. Kingsview Wealth Management LLC now owns 35,056 shares of the health services provider’s stock valued at $9,680,000 after buying an additional 3,484 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at The Cigna Group

In related news, Director Elder Granger sold 2,376 shares of the business’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $310.35, for a total transaction of $737,391.60. Following the transaction, the director now directly owns 5,471 shares in the company, valued at $1,697,924.85. The trade was a 30.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Nicole S. Jones sold 4,904 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $1,511,020.48. Following the completion of the sale, the insider now owns 29,421 shares in the company, valued at approximately $9,065,198.52. This represents a 14.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,751 shares of company stock worth $13,603,991. Company insiders own 0.70% of the company’s stock.

The Cigna Group Price Performance

Shares of NYSE:CI opened at $333.79 on Monday. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The business has a 50-day moving average of $325.84 and a two-hundred day moving average of $310.01. The stock has a market capitalization of $89.17 billion, a P/E ratio of 27.27, a P/E/G ratio of 0.98 and a beta of 0.47. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, topping analysts’ consensus estimates of $6.35 by $0.39. The business had revenue of $65.45 billion for the quarter, compared to analyst estimates of $60.39 billion. The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. The firm’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same period in the previous year, the company posted $6.47 earnings per share. On average, equities research analysts predict that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be paid a $1.51 dividend. The ex-dividend date is Tuesday, June 3rd. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.81%. The Cigna Group’s payout ratio is presently 33.44%.

Analyst Ratings Changes

CI has been the topic of a number of research analyst reports. UBS Group lowered their price target on The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Royal Bank of Canada set a $355.00 price target on The Cigna Group in a report on Friday, January 31st. Robert W. Baird lowered their price target on The Cigna Group from $388.00 to $362.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. Wells Fargo & Company lowered their price target on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Finally, StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 8th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, The Cigna Group presently has an average rating of “Buy” and a consensus price target of $378.22.

About The Cigna Group

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.