Clearstead Advisors LLC Raises Stake in The Cigna Group (NYSE:CI)

Clearstead Advisors LLC boosted its position in The Cigna Group (NYSE:CI – Get Rating) by 6.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,232 shares of the health services provider’s stock after acquiring an additional 71 shares during the period. Clearstead Advisors LLC’s holdings in The Cigna Group were worth $342,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CI. Hexagon Capital Partners LLC raised its stake in The Cigna Group by 178.4% in the 3rd quarter. Hexagon Capital Partners LLC now owns 103 shares of the health services provider’s stock valued at $29,000 after acquiring an additional 66 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its stake in The Cigna Group by 32.3% in the 3rd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 401 shares of the health services provider’s stock valued at $31,000 after acquiring an additional 98 shares during the period. Householder Group Estate & Retirement Specialist LLC bought a new stake in The Cigna Group in the 3rd quarter valued at about $34,000. Wagner Wealth Management LLC bought a new stake in shares of The Cigna Group during the second quarter valued at about $35,000. Finally, Pittenger & Anderson Inc. increased its position in shares of The Cigna Group by 40.0% during the third quarter. Pittenger & Anderson Inc. now owns 140 shares of the health services provider’s stock valued at $39,000 after buying an additional 40 shares during the period. 87.61% of the stock is currently owned by institutional investors.

The Cigna Group Stock Down 0.3 %

Shares of CI opened at $272.13 on Wednesday. The firm has a market cap of $80.84 billion, a P/E ratio of 12.73, a P/E/G ratio of 0.99 and a beta of 0.67. The stock has a 50 day simple moving average of $298.52 and a two-hundred day simple moving average of $304.99. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.70 and a quick ratio of 0.70. The Cigna Group has a 1 year low of $227.94 and a 1 year high of $340.11.

The Cigna Group (NYSE:CI – Get Rating) last issued its earnings results on Friday, February 3rd. The health services provider reported $4.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.84 by $0.12. The business had revenue of $45.75 billion during the quarter, compared to analyst estimates of $45.79 billion. The Cigna Group had a return on equity of 16.01% and a net margin of 3.69%. The Cigna Group’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.77 earnings per share. On average, analysts forecast that The Cigna Group will post 24.65 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 23rd. Stockholders of record on Wednesday, March 8th will be paid a dividend of $1.23 per share. This represents a $4.92 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend is Tuesday, March 7th. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.12. The Cigna Group’s dividend payout ratio is 23.01%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CI. Morgan Stanley upped their price target on The Cigna Group from $347.00 to $365.00 and gave the company an “overweight” rating in a research report on Friday, January 6th. JPMorgan Chase & Co. decreased their price target on The Cigna Group from $378.00 to $370.00 and set an “overweight” rating on the stock in a research report on Thursday, February 23rd. SVB Leerink upped their price target on The Cigna Group from $309.00 to $335.00 and gave the company a “market perform” rating in a research report on Wednesday, February 8th. Stephens reiterated an “overweight” rating and set a $370.00 price target on shares of The Cigna Group in a research report on Tuesday, February 28th. Finally, StockNews.com cut The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 28th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $339.00.

Insider Activity

In other news, CEO David Cordani sold 20,148 shares of the stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $294.06, for a total transaction of $5,924,720.88. Following the completion of the sale, the chief executive officer now owns 120,496 shares of the company’s stock, valued at $35,433,053.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO David Cordani sold 20,148 shares of the stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $294.06, for a total transaction of $5,924,720.88. Following the completion of the sale, the chief executive officer now owns 120,496 shares of the company’s stock, valued at $35,433,053.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Cynthia Ryan sold 3,009 shares of the stock in a transaction that occurred on Friday, December 16th. The shares were sold at an average price of $327.95, for a total value of $986,801.55. Following the sale, the executive vice president now directly owns 4,319 shares of the company’s stock, valued at approximately $1,416,416.05. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,761 shares of company stock valued at $8,995,280. 0.80% of the stock is currently owned by company insiders.

The Cigna Group Company Profile

(Get Rating)

The Cigna Group is engaged in the provision of global health services. It operates through the following segments: Evernorth, U.S. Medical, International Markets, and Group Disability and Other. The Evernorth segment includes a broad range of coordinated and point solution health services, including pharmacy solutions, benefits management solutions, care solutions and intelligence solutions.