Malaga Cove Capital LLC Sells 113 Shares of The Cigna Group (NYSE:CI)

Malaga Cove Capital LLC trimmed its position in The Cigna Group (NYSE:CI) by 1.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 9,130 shares of the health services provider’s stock after selling 113 shares during the period. The Cigna Group comprises approximately 1.2% of Malaga Cove Capital LLC’s holdings, making the stock its 19th largest holding. Malaga Cove Capital LLC’s holdings in The Cigna Group were worth $2,734,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Bogart Wealth LLC increased its holdings 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 purchasing an additional 46 shares during the last quarter. OFI Invest Asset Management bought a new position in shares of The Cigna Group during the third quarter worth about $26,000. Fortitude Family Office LLC acquired a new position in The Cigna Group during the 4th quarter worth approximately $29,000. VisionPoint Advisory Group LLC grew its stake in shares of The Cigna Group by 112.2% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock worth $30,000 after acquiring an additional 55 shares in the last quarter. Finally, Pacifica Partners Inc. lifted its position in shares of The Cigna Group by 73.2% in 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 in the last quarter. Institutional investors own 86.99% of the company’s stock.

Insider Activity

In related news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of The Cigna Group stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total value of $1,608,446.16. Following the completion of the sale, the senior vice president now owns 2,102 shares of the company’s stock, valued at approximately $694,668.96. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO David Cordani sold 38,065 shares of The Cigna Group 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 sale, the chief executive officer now owns 329,321 shares in the company, valued at approximately $110,394,985.62. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of The Cigna Group 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 sale, the senior vice president now owns 2,102 shares of the company’s stock, valued at $694,668.96. The disclosure for this sale can be found here. Insiders sold a total of 114,144 shares of company stock valued at $39,296,330 in the last ninety days. 0.60% of the stock is currently owned by insiders.

The Cigna Group Stock Down 0.9 %

Shares of NYSE CI traded down $3.00 during mid-day trading on Friday, reaching $341.50. 2,413,548 shares of the company’s stock traded hands, compared to its average volume of 1,380,653. The stock has a market cap of $99.84 billion, a P/E ratio of 28.04, a PEG ratio of 1.05 and a beta of 0.57. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.71 and a quick ratio of 0.67. The Cigna Group has a 1-year low of $240.50 and a 1-year high of $365.71. The business has a 50-day simple moving average of $350.77 and a 200 day simple moving average of $319.59.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, May 2nd. The health services provider reported $6.47 earnings per share for the quarter, beating the consensus estimate of $6.17 by $0.30. The business had revenue of $57.25 billion for the quarter, compared to analysts’ expectations of $56.59 billion. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The business’s revenue was up 23.2% on a year-over-year basis. During the same period last year, the business earned $5.41 EPS. On average, analysts expect that The Cigna Group will post 28.45 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Tuesday, June 4th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend is Tuesday, June 4th. The Cigna Group’s payout ratio is 45.98%.

Analyst Ratings Changes

Several brokerages have issued reports on CI. Deutsche Bank Aktiengesellschaft upgraded shares of The Cigna Group from a “hold” rating to a “buy” rating and lifted their price target for the company from $355.00 to $370.00 in a research note on Thursday, February 1st. Cantor Fitzgerald increased their price target on The Cigna Group from $384.00 to $400.00 and gave the company an “overweight” rating in a research report on Friday. Oppenheimer boosted their price target on The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 14th. Finally, Mizuho upped their price target on shares of The Cigna Group from $360.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $366.14.

The Cigna Group Company 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.