West Branch Capital LLC Boosts Stock Holdings in The Cigna Group (NYSE:CI)

West Branch Capital LLC lifted its stake in The Cigna Group (NYSE:CIFree Report) by 79.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 339 shares of the health services provider’s stock after buying an additional 150 shares during the period. West Branch Capital LLC’s holdings in The Cigna Group were worth $102,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bogart Wealth LLC grew its holdings in 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 acquiring an additional 46 shares during the last quarter. OFI Invest Asset Management bought a new position in shares of The Cigna Group during the third quarter valued at about $26,000. Fairfield Bush & CO. purchased a new stake in shares of The Cigna Group during the second quarter worth about $28,000. Fortitude Family Office LLC bought a new stake in shares of The Cigna Group in the fourth quarter worth about $29,000. Finally, Optimum Investment Advisors increased its holdings in The Cigna Group by 110.0% during the 3rd quarter. Optimum Investment Advisors now owns 105 shares of the health services provider’s stock valued at $30,000 after purchasing an additional 55 shares during the period. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Price Performance

Shares of NYSE CI opened at $363.19 on Friday. The company has a 50 day simple moving average of $335.56 and a two-hundred day simple moving average of $308.40. The Cigna Group has a fifty-two week low of $240.50 and a fifty-two week high of $365.71. The company has a market capitalization of $106.18 billion, a price-to-earnings ratio of 20.89, a P/E/G ratio of 1.11 and a beta of 0.55. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.67 and a current ratio of 0.67.

The Cigna Group (NYSE:CIGet Free Report) last posted its quarterly earnings data on Friday, February 2nd. The health services provider reported $6.79 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $48.91 billion. During the same quarter last year, the company earned $4.96 EPS. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. Analysts expect that The Cigna Group will post 28.36 EPS for the current fiscal year.

The Cigna Group Increases Dividend

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

Insider Buying and Selling at The Cigna Group

In other news, CEO David Cordani sold 38,065 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $335.22, for a total value of $12,760,149.30. Following the transaction, the chief executive officer now owns 329,321 shares in the company, valued at $110,394,985.62. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other The Cigna Group news, CEO David Cordani sold 38,065 shares of The Cigna Group stock in a transaction on Friday, February 9th. The stock was sold at an average price of $335.22, for a total value of $12,760,149.30. Following the completion of the sale, the chief executive officer now owns 329,321 shares of the company’s stock, valued at approximately $110,394,985.62. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the company’s stock in a transaction on 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 owned by corporate insiders.

Analysts Set New Price Targets

CI has been the subject of several research analyst reports. Barclays assumed coverage on The Cigna Group in a report on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 price objective for the company. Sanford C. Bernstein raised shares of The Cigna Group from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $330.00 to $372.00 in a research report on Thursday, January 4th. Mizuho upped their price objective on shares of The Cigna Group from $360.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, February 5th. Jefferies Financial Group raised shares of The Cigna Group from a “hold” rating to a “buy” rating and lifted their target price for the company from $335.00 to $341.00 in a research note on Monday, December 11th. Finally, Oppenheimer reissued an “outperform” rating and issued a $360.00 price target on shares of The Cigna Group in a research note on Wednesday, January 17th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $361.29.

Check Out Our Latest Report on CI

The Cigna Group Profile

(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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