Ellsworth Advisors LLC Makes New $4.38 Million Investment in The Cigna Group (NYSE:CI)

Ellsworth Advisors LLC acquired a new stake in The Cigna Group (NYSE:CI) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 14,617 shares of the health services provider’s stock, valued at approximately $4,377,000. The Cigna Group comprises approximately 1.4% of Ellsworth Advisors LLC’s portfolio, making the stock its 28th largest position.

Other large investors have also recently added to or reduced their stakes in the company. Avestar Capital LLC lifted its holdings in The Cigna Group by 0.8% in the 3rd quarter. Avestar Capital LLC now owns 4,585 shares of the health services provider’s stock valued at $1,312,000 after purchasing an additional 35 shares in the last quarter. Eads & Heald Wealth Management lifted its holdings in shares of The Cigna Group by 1.7% during the 3rd quarter. Eads & Heald Wealth Management now owns 2,123 shares of the health services provider’s stock worth $607,000 after acquiring an additional 35 shares during the period. Gray Wealth Management Inc. lifted its holdings in shares of The Cigna Group by 4.2% during the 2nd quarter. Gray Wealth Management Inc. now owns 890 shares of the health services provider’s stock worth $250,000 after acquiring an additional 36 shares during the period. Strategic Blueprint LLC lifted its holdings in shares of The Cigna Group by 4.8% during the 3rd quarter. Strategic Blueprint LLC now owns 784 shares of the health services provider’s stock worth $224,000 after acquiring an additional 36 shares during the period. Finally, Wambolt & Associates LLC lifted its holdings in shares of The Cigna Group by 1.4% during the 2nd quarter. Wambolt & Associates LLC now owns 2,536 shares of the health services provider’s stock worth $712,000 after acquiring an additional 36 shares during the period. 86.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Royal Bank of Canada upgraded shares of The Cigna Group from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $327.00 to $354.00 in a report on Monday, February 5th. Barclays started coverage on shares of The Cigna Group in a report on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 price target on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of The Cigna Group from a “hold” rating to a “buy” rating and raised their price target for the company from $355.00 to $370.00 in a report on Thursday, February 1st. Morgan Stanley restated an “overweight” rating and issued a $392.00 price target (up previously from $382.00) on shares of The Cigna Group in a report on Monday, March 4th. Finally, Wells Fargo & Company raised their price target 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. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, The Cigna Group presently has an average rating of “Buy” and a consensus price target of $361.29.

Insider Activity

In other news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the firm’s stock in a transaction 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 completion of the sale, the senior vice president now directly owns 2,102 shares in the company, valued at $694,668.96. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the firm’s 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 transaction, the senior vice president now owns 2,102 shares in the company, valued at $694,668.96. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David Cordani sold 38,065 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 329,321 shares in the company, valued at approximately $110,394,985.62. The disclosure for this sale can be found here. Over 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.

The Cigna Group Stock Performance

Shares of NYSE CI traded down $0.15 during trading hours on Friday, reaching $363.19. The stock had a trading volume of 1,162,695 shares, compared to its average volume of 1,589,122. The business’s fifty day moving average is $333.26 and its two-hundred day moving average is $307.47. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.67. The company has a market cap of $106.18 billion, a price-to-earnings ratio of 20.89, a PEG ratio of 1.11 and a beta of 0.55. The Cigna Group has a twelve month low of $240.50 and a twelve month high of $365.71.

The Cigna Group (NYSE:CI) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $48.91 billion. During the same period in the prior year, the company posted $4.96 earnings per share. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, research analysts expect that The Cigna Group will post 28.36 EPS for the current year.

The Cigna Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th were paid a $1.40 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.23. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.54%. The Cigna Group’s dividend payout ratio (DPR) is 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.