Cigna Group CEO David Cordani Sells Over $690,000 in Company Stock

David Cordani, the CEO of The Cigna Group (NYSE:CI), partook in significant insider selling of his company's shares in late February. Specifically, Cordani sold 2,000 shares on February 27th at an average price of $345.04 each, culminating in a total sale amount of $690,080.00. Post transaction, Cordani retains 336,783 shares in the company, indicative of a substantial stake valued at roughly $116.2 million.

Additional Insider Transactions

Alongside this notable sale, Cordani engaged in other stock disposals. Prior to the February 27th sale, he sold 6,319 shares on February 23rd at an average of $345.24 each, and 2,073 shares on February 12th at $336.81 per share. Another significant sale included 38,065 shares on February 9th, priced at $335.22 apiece, totaling over $12.7 million.

Understanding The Cigna Group's Stock

The Cigna Group's shares opened at $335.92 on the last trading session of February, showcasing a sturdy market capitalization of around $98.3 billion. The company painted a healthy financial picture, with stock price valuations such as a price-to-earnings ratio of 19.32, and other financial metrics indicating stability. Additionally, the company's earnings per share (EPS) for the recent quarter stood at $6.79, surpassing the projected $6.54 by analysts.

Dividends on the Rise

Cigna also disclosed a quarterly dividend increase, with plans to distribute $1.40 per share on March 21st, benefiting shareholders on record as of March 6th. This rate is up from the previous dividend of $1.23, highlighting the company's upward trend in shareholder returns.

Interest from Hedge Funds and Analysts

Hedge funds and institutional investors have exhibited active interest in The Cigna Group's shares, with some, such as FMR LLC and State Street Corp, increasing their holdings. Analysts, too, have expressed optimism about the company's growth potential, with numerous 'buy' and 'strong-buy' ratings, and price targets averaging $357.15 indicating potential for stock appreciation.

Corporate Profile: The Cigna Group

The Cigna Group, a stalwart in the U.S. insurance landscape, offers a plethora of insurance products and services through its subsidiaries, including its Evernorth Health Services segment. The segment is known for providing comprehensive health services and fostering health plan coordination for various stakeholders within the healthcare ecosystem.

CEO, Insider, Selling