Evoke Wealth LLC Sells 43 Shares of The Cigna Group (NYSE:CI)

Evoke Wealth LLC decreased its position in shares of The Cigna Group (NYSE:CI) by 4.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,036 shares of the health services provider’s stock after selling 43 shares during the quarter. Evoke Wealth LLC’s holdings in The Cigna Group were worth $286,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. TCTC Holdings LLC bought a new position in The Cigna Group during the fourth quarter worth $25,000. Collier Financial bought a new position in shares of The Cigna Group in the 4th quarter worth about $32,000. ORG Wealth Partners LLC acquired a new position in shares of The Cigna Group in the 4th quarter valued at about $34,000. Prospera Private Wealth LLC bought a new stake in shares of The Cigna Group during the 3rd quarter valued at about $37,000. Finally, Compagnie Lombard Odier SCmA acquired a new stake in The Cigna Group during the fourth quarter worth approximately $37,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Royal Bank of Canada set a $355.00 price objective on shares of The Cigna Group in a research note on Friday, January 31st. Stephens dropped their price target on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Oppenheimer cut their price target on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a report on Friday, January 31st. Truist Financial lowered their target price on The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. Finally, StockNews.com upgraded The Cigna Group from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $372.31.

Insiders Place Their Bets

In related news, insider Noelle K. Eder sold 9,944 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the sale, the insider now directly owns 13,406 shares in the company, valued at approximately $4,289,920. The trade was a 42.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Elder Granger sold 2,376 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $310.35, for a total transaction of $737,391.60. Following the completion of the transaction, the director now owns 5,471 shares of the company’s stock, valued at $1,697,924.85. This trade represents a 30.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,751 shares of company stock valued at $13,603,991 over the last ninety days. 0.60% of the stock is currently owned by insiders.

The Cigna Group Price Performance

Shares of NYSE CI opened at $320.74 on Thursday. The company has a market capitalization of $87.78 billion, a PE ratio of 26.20, a PEG ratio of 0.98 and a beta of 0.53. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70. The stock’s 50 day moving average price is $299.23 and its 200-day moving average price is $315.68. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same period in the previous year, the firm posted $6.79 earnings per share. On average, equities analysts anticipate that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.88%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Wednesday, March 5th. The Cigna Group’s dividend payout ratio is 49.35%.

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.