The Cigna Group (NYSE:CI) Shares Sold by Westover Capital Advisors LLC

Westover Capital Advisors LLC lowered its position in shares of The Cigna Group (NYSE:CI) by 1.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,859 shares of the health services provider’s stock after selling 61 shares during the period. Westover Capital Advisors LLC’s holdings in The Cigna Group were worth $1,156,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CI. Bogart Wealth LLC lifted its position in The Cigna Group by 104.5% in the third quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock valued at $26,000 after acquiring an additional 46 shares during the last quarter. OFI Invest Asset Management purchased a new stake in The Cigna Group in the third quarter valued at $26,000. Fortitude Family Office LLC purchased a new stake in The Cigna Group in the fourth quarter valued at $29,000. VisionPoint Advisory Group LLC lifted its position in 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 valued at $30,000 after acquiring an additional 55 shares during the last quarter. Finally, Pacifica Partners Inc. lifted its position in The Cigna Group by 73.2% in the fourth quarter. Pacifica Partners Inc. now owns 142 shares of the health services provider’s stock valued at $43,000 after acquiring an additional 60 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Royal Bank of Canada raised shares of The Cigna Group from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $327.00 to $354.00 in a report on Monday, February 5th. Sanford C. Bernstein raised shares of The Cigna Group from a “market perform” rating to an “outperform” rating and upped their target price for the company from $330.00 to $372.00 in a report on Thursday, January 4th. Morgan Stanley reaffirmed an “overweight” rating and issued a $392.00 target price (up from $382.00) on shares of The Cigna Group in a report on Monday, March 4th. Oppenheimer reaffirmed an “outperform” rating and issued a $360.00 target price on shares of The Cigna Group in a report on Wednesday, January 17th. Finally, Barclays assumed coverage on shares of The Cigna Group in a report on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 target price for the company. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $362.14.

Insiders Place Their Bets

In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the transaction, the senior vice president now directly owns 2,102 shares in the company, valued at $694,668.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO David Cordani sold 38,065 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $335.22, for a total value of $12,760,149.30. Following the sale, the chief executive officer now directly owns 329,321 shares in the company, valued at $110,394,985.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the completion of the sale, the senior vice president now owns 2,102 shares in the company, valued at $694,668.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 114,144 shares of company stock worth $39,296,330. 0.60% of the stock is owned by company insiders.

The Cigna Group Stock Performance

NYSE CI traded down $13.38 during trading hours on Thursday, hitting $343.80. 2,056,668 shares of the stock were exchanged, compared to its average volume of 1,569,972. The company has a market cap of $100.51 billion, a price-to-earnings ratio of 20.53, a price-to-earnings-growth ratio of 1.09 and a beta of 0.57. The Cigna Group has a 12-month low of $240.50 and a 12-month high of $365.71. The stock has a 50-day moving average of $350.78 and a 200 day moving average of $319.21. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.61.

The Cigna Group (NYSE:CI) last issued its earnings results on Friday, February 2nd. The health services provider reported $6.79 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $48.91 billion. During the same period in the prior year, the business posted $4.96 earnings per share. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, equities research analysts forecast that The Cigna Group will post 28.36 earnings per share for the current year.

The Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th will be given 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 yield of 1.63%. The Cigna Group’s payout ratio is currently 32.20%.

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.