Heritage Investors Management Corp Sells 256 Shares of The Cigna Group (NYSE:CI)

Heritage Investors Management Corp lowered its holdings in shares of The Cigna Group (NYSE:CI) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,540 shares of the health services provider’s stock after selling 256 shares during the quarter. Heritage Investors Management Corp’s holdings in The Cigna Group were worth $4,055,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Bogart Wealth LLC grew its holdings in shares of The Cigna Group by 104.5% during the third quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock worth $26,000 after buying an additional 46 shares in the last quarter. OFI Invest Asset Management acquired a new stake in shares of The Cigna Group in the third quarter valued at approximately $26,000. Fortitude Family Office LLC bought a new stake in shares of The Cigna Group in the fourth quarter worth $29,000. VisionPoint Advisory Group LLC lifted its position in shares of The Cigna Group by 112.2% in the third quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock worth $30,000 after purchasing an additional 55 shares in the last quarter. Finally, Pacifica Partners Inc. boosted its holdings in The Cigna Group by 73.2% during the fourth quarter. Pacifica Partners Inc. now owns 142 shares of the health services provider’s stock worth $43,000 after purchasing an additional 60 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

Insider Transactions at The Cigna Group

In other The Cigna Group news, insider Eric P. Palmer sold 1,017 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $335.26, for a total value of $340,959.42. Following the completion of the sale, the insider now owns 45,564 shares of the company’s stock, valued at $15,275,786.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Eric P. Palmer sold 1,017 shares of The Cigna Group stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $335.26, for a total transaction of $340,959.42. Following the completion of the transaction, the insider now directly owns 45,564 shares in the company, valued at $15,275,786.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Eric P. Palmer sold 6,083 shares of the company’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $340.00, for a total transaction of $2,068,220.00. Following the completion of the sale, the insider now owns 44,649 shares in the company, valued at approximately $15,180,660. The disclosure for this sale can be found here. Insiders have sold 109,277 shares of company stock valued at $37,687,884 in the last 90 days. 0.70% of the stock is currently owned by corporate insiders.

The Cigna Group Trading Up 1.0 %

Shares of CI traded up $3.64 during mid-day trading on Thursday, reaching $350.99. 1,388,760 shares of the company were exchanged, compared to its average volume of 1,585,264. The business has a 50 day simple moving average of $351.14 and a two-hundred day simple moving average of $320.40. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market capitalization of $99.71 billion, a PE ratio of 28.82, a PEG ratio of 1.04 and a beta of 0.57. The Cigna Group has a 52 week low of $240.50 and a 52 week high of $365.71.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, May 2nd. The health services provider reported $6.47 earnings per share for the quarter, topping 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 net margin of 1.76% and a return on equity of 17.24%. The Cigna Group’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period in the prior year, the company posted $5.41 earnings per share. On average, analysts predict that The Cigna Group will post 28.45 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th will be issued a dividend of $1.40 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.60%. The Cigna Group’s dividend payout ratio is currently 45.98%.

Analysts Set New Price Targets

Several brokerages recently issued reports on CI. Morgan Stanley reiterated an “overweight” rating and issued a $392.00 target price (up from $382.00) on shares of The Cigna Group in a research note on Monday, March 4th. Royal Bank of Canada raised The Cigna Group from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $327.00 to $354.00 in a report on Monday, February 5th. 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. Wells Fargo & Company lifted their target price on shares of The Cigna Group from $334.00 to $348.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. Finally, Deutsche Bank Aktiengesellschaft raised shares of The Cigna Group from a “hold” rating to a “buy” rating and increased their price target for the company from $355.00 to $370.00 in a report on Thursday, February 1st. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, The Cigna Group currently has a consensus rating of “Buy” and a consensus target price of $366.14.

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.