BSW Wealth Partners Grows Holdings in The Cigna Group (NYSE:CI)

BSW Wealth Partners increased its position in The Cigna Group (NYSE:CI) by 9.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,154 shares of the health services provider’s stock after acquiring an additional 99 shares during the quarter. BSW Wealth Partners’ holdings in The Cigna Group were worth $346,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bogart Wealth LLC increased 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 in the last quarter. OFI Invest Asset Management purchased a new stake in The Cigna Group in the 3rd quarter worth approximately $26,000. Fortitude Family Office LLC purchased a new stake in The Cigna Group in the 4th quarter worth approximately $29,000. Fairfield Bush & CO. purchased a new stake in The Cigna Group in the 2nd quarter worth approximately $28,000. Finally, VisionPoint Advisory Group LLC increased its holdings in The Cigna Group by 112.2% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock worth $30,000 after acquiring an additional 55 shares in the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other 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 transaction of $12,760,149.30. Following the completion of the sale, the chief executive officer now directly owns 329,321 shares in the company, valued at $110,394,985.62. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Eric P. Palmer sold 6,083 shares of The Cigna Group stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $340.00, for a total transaction of $2,068,220.00. Following the completion of the sale, the insider now directly owns 44,649 shares in the company, valued at $15,180,660. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 sale, the chief executive officer now owns 329,321 shares of the company’s stock, valued at $110,394,985.62. The disclosure for this sale can be found here. Insiders sold a total of 114,144 shares of company stock worth $39,296,330 over the last three months. 0.70% of the stock is owned by insiders.

Analyst Ratings Changes

CI has been the subject of a number of research analyst reports. Royal Bank of Canada raised shares of The Cigna Group from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $327.00 to $354.00 in a report on Monday, February 5th. Sanford C. Bernstein raised shares of The Cigna Group from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $330.00 to $372.00 in a report on Thursday, January 4th. Jefferies Financial Group raised shares of The Cigna Group from a “hold” rating to a “buy” rating and increased their price objective for the company from $335.00 to $341.00 in a report on Monday, December 11th. Barclays initiated coverage on shares of The Cigna Group in a report on Wednesday, March 6th. They set an “overweight” rating and a $393.00 price objective for the company. Finally, StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 14th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $361.29.

The Cigna Group Stock Down 1.2 %

Shares of CI opened at $358.12 on Tuesday. The company has a market cap of $104.70 billion, a PE ratio of 20.59, a P/E/G ratio of 1.11 and a beta of 0.56. The business has a fifty day moving average of $342.75 and a 200 day moving average of $311.92. The Cigna Group has a 52-week low of $240.50 and a 52-week high of $365.71. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.61.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Friday, February 2nd. The health services provider reported $6.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.54 by $0.25. The company had revenue of $51.15 billion during the quarter, compared to the consensus estimate of $48.91 billion. The Cigna Group had a return on equity of 13.59% and a net margin of 2.64%. The Cigna Group’s revenue was up 11.8% on a year-over-year basis. During the same period last year, the company earned $4.96 earnings per share. On average, sell-side analysts expect that The Cigna Group will post 28.36 EPS for the current year.

The Cigna Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Wednesday, March 6th were given a $1.40 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This is an increase from The Cigna Group’s previous quarterly dividend of $1.23. This represents a $5.60 dividend on an annualized basis and a yield of 1.56%. The Cigna Group’s dividend payout ratio (DPR) is currently 32.20%.

About The Cigna Group

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.