Summit Trail Advisors LLC Sells 304 Shares of The Cigna Group (NYSE:CI)

Summit Trail Advisors LLC reduced its holdings in shares of The Cigna Group (NYSE:CI) by 18.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 1,363 shares of the health services provider’s stock after selling 304 shares during the period. Summit Trail Advisors LLC’s holdings in The Cigna Group were worth $408,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Eads & Heald Wealth Management lifted its position in shares of The Cigna Group by 1.7% during the third quarter. Eads & Heald Wealth Management now owns 2,123 shares of the health services provider’s stock valued at $607,000 after purchasing an additional 35 shares in the last quarter. Relyea Zuckerberg Hanson LLC grew its stake in The Cigna Group by 3.2% during the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 1,113 shares of the health services provider’s stock valued at $333,000 after acquiring an additional 35 shares in the last quarter. Legacy Financial Advisors Inc. grew its position in shares of The Cigna Group by 3.1% during the 4th quarter. Legacy Financial Advisors Inc. now owns 1,250 shares of the health services provider’s stock valued at $374,000 after purchasing an additional 37 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of The Cigna Group by 1.4% in the third quarter. Sequoia Financial Advisors LLC now owns 2,822 shares of the health services provider’s stock worth $807,000 after purchasing an additional 39 shares during the period. Finally, Breakwater Capital Group boosted its position in shares of 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 acquiring an additional 39 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Price Performance

Shares of CI stock opened at $346.70 on Wednesday. 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 50 day moving average price of $350.89 and a 200 day moving average price of $320.21. The firm has a market capitalization of $98.49 billion, a P/E ratio of 28.46, a P/E/G 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 announced its quarterly earnings results 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 firm 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 company’s revenue was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.41 EPS. As a group, sell-side analysts predict that The Cigna Group will post 28.45 earnings per share for the current 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 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 1.62%. The Cigna Group’s dividend payout ratio (DPR) is presently 45.98%.

Wall Street Analysts Forecast Growth

CI has been the subject of a number of research analyst reports. Mizuho lifted their price objective on shares of The Cigna Group from $360.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, February 5th. Barclays assumed coverage on shares of The Cigna Group in a research report on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 price objective on the stock. Royal Bank of Canada raised The Cigna Group from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $327.00 to $354.00 in a research note on Monday, February 5th. Cantor Fitzgerald upped their price target on The Cigna Group from $384.00 to $400.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Finally, Wells Fargo & Company raised 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. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, The Cigna Group presently has a consensus rating of “Buy” and an average target price of $366.14.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, insider Eric P. Palmer sold 1,017 shares of The Cigna Group stock in a transaction on Friday, February 9th. The shares were sold at an average price of $335.26, for a total value of $340,959.42. Following the completion of the transaction, the insider now owns 45,564 shares of the company’s stock, valued at $15,275,786.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other The Cigna Group news, insider Eric P. Palmer sold 1,017 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was 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 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 through this hyperlink. Also, CEO David Cordani sold 38,065 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $335.22, for a total transaction of $12,760,149.30. Following the completion of the transaction, the chief executive officer now directly owns 329,321 shares in the company, valued at $110,394,985.62. The disclosure for this sale can be found here. In the last quarter, insiders sold 109,277 shares of company stock worth $37,687,884. Insiders own 0.70% of the company’s stock.

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.