HB Wealth Management LLC Grows Stake in The Cigna Group (NYSE:CI)

HB Wealth Management LLC lifted its position in The Cigna Group (NYSE:CIFree Report) by 3.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,540 shares of the health services provider’s stock after buying an additional 263 shares during the period. HB Wealth Management LLC’s holdings in The Cigna Group were worth $2,258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bogart Wealth LLC boosted its stake in shares of The Cigna Group by 104.5% in the 3rd quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock worth $26,000 after buying an additional 46 shares during the last quarter. OFI Invest Asset Management purchased a new position in The Cigna Group during the third quarter valued at $26,000. Fortitude Family Office LLC purchased a new position in The Cigna Group during the fourth quarter valued at $29,000. Fairfield Bush & CO. purchased a new position in The Cigna Group during the second quarter valued at $28,000. Finally, VisionPoint Advisory Group LLC lifted its position in The Cigna Group by 112.2% during the third quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock valued at $30,000 after purchasing an additional 55 shares in the last quarter. 85.32% of the stock is currently owned by hedge funds and other institutional investors.

The Cigna Group Trading Down 0.5 %

Shares of CI stock opened at $351.78 on Monday. The Cigna Group has a 12-month low of $240.50 and a 12-month high of $355.77. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.61. The stock’s 50-day moving average price is $330.13 and its 200-day moving average price is $306.02. The stock has a market capitalization of $102.85 billion, a price-to-earnings ratio of 20.23, a price-to-earnings-growth ratio of 1.08 and a beta of 0.55.

The Cigna Group (NYSE:CIGet Free Report) last issued its earnings results on Friday, February 2nd. The health services provider reported $6.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.54 by $0.25. The Cigna Group had a return on equity of 13.59% and a net margin of 2.64%. The firm had revenue of $51.15 billion for the quarter, compared to analysts’ expectations of $48.91 billion. During the same period in the previous year, the firm posted $4.96 earnings per share. The business’s revenue was up 11.8% compared to the same quarter last year. Equities research analysts predict that The Cigna Group will post 28.36 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th were issued a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.59%. This is a boost from The Cigna Group’s previous quarterly dividend of $1.23. The ex-dividend date of this dividend was Tuesday, March 5th. The Cigna Group’s payout ratio is 32.20%.

Insider Transactions at The Cigna Group

In other 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 sale, the senior vice president now directly owns 2,102 shares of the company’s stock, valued at $694,668.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other The Cigna Group news, CEO David Cordani sold 38,065 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 329,321 shares of the company’s stock, valued at $110,394,985.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the business’s stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 2,102 shares in the company, valued at $694,668.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 76,597 shares of company stock valued at $25,961,142. 0.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CI. Sanford C. Bernstein upgraded The Cigna Group from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $330.00 to $372.00 in a research report on Thursday, January 4th. Deutsche Bank Aktiengesellschaft upgraded The Cigna Group from a “hold” rating to a “buy” rating and lifted their target price for the company from $355.00 to $370.00 in a research report on Thursday, February 1st. Oppenheimer reiterated an “outperform” rating and set a $360.00 target price on shares of The Cigna Group in a research report on Wednesday, January 17th. Barclays began coverage on The Cigna Group in a research report on Wednesday, March 6th. They set an “overweight” rating and a $393.00 target price on the stock. Finally, Wells Fargo & Company raised their price target on The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $361.29.

View Our Latest Analysis on CI

About The Cigna Group

(Free Report)

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.

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Institutional Ownership by Quarter for The Cigna Group (NYSE:CI)

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