The Cigna Group (NYSE:CI) Shares Acquired by IHT Wealth Management LLC

IHT Wealth Management LLC grew its stake in The Cigna Group (NYSE:CI – Get Rating) by 99.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,809 shares of the health services provider’s stock after acquiring an additional 1,399 shares during the quarter. IHT Wealth Management LLC’s holdings in The Cigna Group were worth $779,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Hexagon Capital Partners LLC grew its holdings in shares of The Cigna Group by 178.4% during the 3rd quarter. Hexagon Capital Partners LLC now owns 103 shares of the health services provider’s stock worth $29,000 after purchasing an additional 66 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its holdings in shares of The Cigna Group by 32.3% during the 3rd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 401 shares of the health services provider’s stock worth $31,000 after purchasing an additional 98 shares during the period. Householder Group Estate & Retirement Specialist LLC purchased a new position in shares of The Cigna Group during the 3rd quarter worth $34,000. Wagner Wealth Management LLC purchased a new position in shares of The Cigna Group during the 2nd quarter worth $35,000. Finally, Pittenger & Anderson Inc. grew its holdings in shares of The Cigna Group by 40.0% during the 3rd quarter. Pittenger & Anderson Inc. now owns 140 shares of the health services provider’s stock worth $39,000 after purchasing an additional 40 shares during the period. 87.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Raymond James lowered their price target on The Cigna Group from $370.00 to $350.00 and set an “outperform” rating for the company in a report on Tuesday, February 7th. Wells Fargo & Company cut The Cigna Group from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $370.00 to $355.00 in a report on Tuesday, January 3rd. Deutsche Bank Aktiengesellschaft lowered their target price on The Cigna Group from $359.00 to $348.00 in a report on Wednesday, February 8th. SVB Leerink raised their target price on The Cigna Group from $309.00 to $335.00 and gave the company a “market perform” rating in a report on Wednesday, February 8th. Finally, SVB Securities lowered their target price on The Cigna Group from $335.00 to $309.00 in a report on Wednesday, February 8th. Seven research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $339.00.

The Cigna Group Price Performance

Shares of NYSE CI opened at $269.45 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.70 and a current ratio of 0.70. The Cigna Group has a fifty-two week low of $238.48 and a fifty-two week high of $340.11. The firm has a market capitalization of $80.04 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 0.98 and a beta of 0.67. The stock’s 50-day simple moving average is $296.46 and its 200-day simple moving average is $304.42.

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 for the quarter, topping the consensus estimate of $4.84 by $0.12. The Cigna Group had a return on equity of 16.01% and a net margin of 3.69%. The business had revenue of $45.75 billion for the quarter, compared to analyst estimates of $45.79 billion. During the same quarter last year, the company earned $4.77 EPS. The business’s quarterly revenue was up .1% on a year-over-year basis. As a group, equities research analysts forecast that The Cigna Group will post 24.65 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 23rd. Stockholders of record on Wednesday, March 8th will be given a dividend of $1.23 per share. This represents a $4.92 annualized dividend and a dividend yield of 1.83%. The ex-dividend date 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 (DPR) is 23.01%.

Insider Transactions at The Cigna Group

In other news, EVP Cynthia Ryan sold 803 shares of the firm’s stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $294.06, for a total transaction of $236,130.18. Following the sale, the executive vice president now owns 6,503 shares of the company’s stock, valued at approximately $1,912,272.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other The Cigna Group news, EVP Cynthia Ryan sold 803 shares of The Cigna Group 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 $236,130.18. Following the transaction, the executive vice president now owns 6,503 shares of the company’s stock, valued at $1,912,272.18. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Michael W. Triplett sold 1,731 shares of The Cigna Group stock in a transaction that occurred on Friday, March 10th. The stock was sold at an average price of $271.67, for a total value of $470,260.77. Following the transaction, the insider now directly owns 30,235 shares in the company, valued at approximately $8,213,942.45. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,752 shares of company stock valued at $8,008,479. Corporate insiders own 0.80% of the company’s stock.

The Cigna Group Company Profile

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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.