Ritholtz Wealth Management Has $1.78 Million Position in The Cigna Group (NYSE:CI)

Ritholtz Wealth Management grew its position in The Cigna Group (NYSE:CI) by 5.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,927 shares of the health services provider’s stock after acquiring an additional 309 shares during the period. Ritholtz Wealth Management’s holdings in The Cigna Group were worth $1,775,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Aristotle Atlantic Partners LLC boosted its holdings in The Cigna Group by 24.3% in the 2nd quarter. Aristotle Atlantic Partners LLC now owns 112,541 shares of the health services provider’s stock valued at $31,579,000 after purchasing an additional 22,014 shares during the period. Accurate Wealth Management LLC acquired a new position in shares of The Cigna Group in the 4th quarter valued at approximately $2,244,000. Dfpg Investments LLC raised its position in shares of The Cigna Group by 92.0% in the 4th quarter. Dfpg Investments LLC now owns 7,160 shares of the health services provider’s stock valued at $2,174,000 after buying an additional 3,430 shares in the last quarter. Brandywine Global Investment Management LLC increased its position in The Cigna Group by 1.5% in the 3rd quarter. Brandywine Global Investment Management LLC now owns 444,817 shares of the health services provider’s stock valued at $127,249,000 after acquiring an additional 6,365 shares during the period. Finally, Perpetual Ltd increased its position in The Cigna Group by 15.7% in the 3rd quarter. Perpetual Ltd now owns 132,461 shares of the health services provider’s stock valued at $37,893,000 after acquiring an additional 17,925 shares during the period. Institutional investors own 86.99% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Jefferies Financial Group raised shares of The Cigna Group from a “hold” rating to a “buy” rating and increased their target price for the stock from $335.00 to $341.00 in a research note on Monday, December 11th. Wells Fargo & Company increased their target price on shares of The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. Morgan Stanley restated an “overweight” rating and set a $392.00 price objective (up previously from $382.00) on shares of The Cigna Group in a report on Monday, March 4th. 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. Finally, Barclays began coverage on shares of The Cigna Group in a research report on Wednesday, March 6th. They set an “overweight” rating and a $393.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, The Cigna Group has an average rating of “Buy” and an average price target of $361.29.

The Cigna Group Trading Down 0.0 %

The Cigna Group stock opened at $363.19 on Friday. 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 Cigna Group has a 12-month low of $240.50 and a 12-month high of $365.71. The firm has a market capitalization of $106.18 billion, a price-to-earnings ratio of 20.89, a P/E/G ratio of 1.10 and a beta of 0.55. The firm has a 50 day moving average of $333.26 and a 200 day moving average of $307.47.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Friday, February 2nd. The health services provider reported $6.79 EPS for the quarter, topping analysts’ consensus estimates 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 company 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 earned $4.96 EPS. The firm’s revenue was up 11.8% compared to the same quarter last year. As a group, research analysts predict that The Cigna Group will post 28.36 earnings per share for the current year.

The Cigna Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th were given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.54%. The ex-dividend date was Tuesday, March 5th. This is an increase from The Cigna Group’s previous quarterly dividend of $1.23. The Cigna Group’s dividend payout ratio is 32.20%.

Insiders Place Their Bets

In related news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the completion of the sale, the senior vice president now directly owns 2,102 shares in the company, valued at approximately $694,668.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Eric P. Palmer sold 1,017 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $335.26, for a total transaction of $340,959.42. Following the transaction, the insider now directly owns 45,564 shares of the company’s stock, valued at approximately $15,275,786.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total value of $1,608,446.16. Following the transaction, 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. In the last ninety days, insiders sold 114,144 shares of company stock worth $39,296,330. 0.60% of the stock is currently owned by company insiders.

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.