Signaturefd LLC Grows Stake in The Cigna Group (NYSE:CI)

Signaturefd LLC increased its holdings in shares of The Cigna Group (NYSE:CI) by 2.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,923 shares of the health services provider’s stock after purchasing an additional 101 shares during the quarter. Signaturefd LLC’s holdings in The Cigna Group were worth $1,474,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Bogart Wealth LLC lifted its position in The Cigna Group by 104.5% in the third quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock valued at $26,000 after acquiring an additional 46 shares during the last quarter. OFI Invest Asset Management acquired a new stake in shares of The Cigna Group during the third quarter worth about $26,000. Fortitude Family Office LLC purchased a new stake in shares of The Cigna Group in the 4th quarter valued at about $29,000. Fairfield Bush & CO. acquired a new stake in shares of The Cigna Group in the 2nd quarter valued at about $28,000. Finally, VisionPoint Advisory Group LLC grew its stake in The Cigna Group by 112.2% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock worth $30,000 after buying an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Insiders Place Their Bets

In other news, CEO David Cordani sold 31,209 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $355.17, for a total value of $11,084,500.53. Following the completion of the transaction, the chief executive officer now owns 348,054 shares in the company, valued at $123,618,339.18. The sale was disclosed in a document filed with the SEC, which is available at this link. In other The Cigna Group news, CEO David Cordani sold 31,209 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $355.17, for a total value of $11,084,500.53. Following the sale, the chief executive officer now owns 348,054 shares of the company’s stock, valued at $123,618,339.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eric P. Palmer sold 6,083 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 44,649 shares of the company’s stock, valued at $15,180,660. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 114,144 shares of company stock worth $39,296,330. 0.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $384.00 price objective on shares of The Cigna Group in a research note on Wednesday, April 10th. Morgan Stanley reissued an “overweight” rating and set a $392.00 price objective (up from $382.00) on shares of The Cigna Group in a research report on Monday, March 4th. Deutsche Bank Aktiengesellschaft raised shares of The Cigna Group from a “hold” rating to a “buy” rating and upped their target price for the company from $355.00 to $370.00 in a report on Thursday, February 1st. Oppenheimer reissued an “outperform” rating and set a $360.00 price target on shares of The Cigna Group in a report on Wednesday, January 17th. Finally, Royal Bank of Canada raised The Cigna Group from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $327.00 to $354.00 in a research note on Monday, February 5th. Two research 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. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $362.14.

The Cigna Group Stock Performance

Shares of CI opened at $352.39 on Monday. 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 has a 52-week low of $240.50 and a 52-week high of $365.71. The company has a 50-day simple moving average of $348.41 and a 200-day simple moving average of $315.91. The company has a market capitalization of $103.02 billion, a PE ratio of 20.26, a P/E/G ratio of 1.08 and a beta of 0.56.

The Cigna Group (NYSE:CI) last issued its earnings results on Friday, February 2nd. The health services provider reported $6.79 earnings per share for the quarter, topping the consensus estimate of $6.54 by $0.25. The Cigna Group had a net margin of 2.64% and a return on equity of 13.59%. The company had revenue of $51.15 billion for the quarter, compared to analyst estimates of $48.91 billion. During the same period in the prior year, the business posted $4.96 earnings per share. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. Equities research analysts predict that The Cigna Group will post 28.36 earnings per share 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 issued a dividend of $1.40 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This is a boost from The Cigna Group’s previous quarterly dividend of $1.23. This represents a $5.60 annualized dividend and a yield of 1.59%. The Cigna Group’s payout ratio is currently 32.20%.

The Cigna Group 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.