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

Capital Analysts LLC raised its stake in The Cigna Group (NYSE:CI) by 1.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,912 shares of the health services provider’s stock after acquiring an additional 158 shares during the period. Capital Analysts LLC’s holdings in The Cigna Group were worth $2,669,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Bogart Wealth LLC grew its holdings in The Cigna Group by 104.5% during the 3rd quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock valued at $26,000 after purchasing an additional 46 shares during the last quarter. OFI Invest Asset Management purchased a new stake in shares of The Cigna Group in the third quarter worth approximately $26,000. Fairfield Bush & CO. purchased a new stake in shares of The Cigna Group during the second quarter valued at $28,000. Fortitude Family Office LLC purchased a new stake in The Cigna Group in the 4th quarter valued at about $29,000. Finally, Optimum Investment Advisors boosted its holdings in shares of The Cigna Group by 110.0% in the third 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. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Price Performance

Shares of CI opened at $354.15 on Tuesday. The firm has a market capitalization of $103.54 billion, a price-to-earnings ratio of 20.06, a PEG ratio of 1.07 and a beta of 0.56. The firm’s fifty day simple moving average is $347.04 and its 200-day simple moving average is $314.14. The Cigna Group has a twelve month low of $240.50 and a twelve month high of $365.71. 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 (NYSE:CI) last posted its quarterly earnings results 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 company had revenue of $51.15 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 11.8% on a year-over-year basis. During the same period last year, the firm earned $4.96 earnings per share. Equities analysts forecast 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. Shareholders of record on Wednesday, March 6th were paid a $1.40 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $5.60 dividend on an annualized basis and a yield of 1.58%. This is a boost from The Cigna Group’s previous quarterly dividend of $1.23. The Cigna Group’s payout ratio is currently 32.20%.

Analyst Ratings Changes

CI has been the topic of several research reports. Deutsche Bank Aktiengesellschaft raised shares of The Cigna Group from a “hold” rating to a “buy” rating and lifted their price objective for the company from $355.00 to $370.00 in a report on Thursday, February 1st. Cantor Fitzgerald reissued an “overweight” rating and set a $384.00 target price on shares of The Cigna Group in a research report on Wednesday, April 10th. Royal Bank of Canada raised The Cigna Group from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $327.00 to $354.00 in a research report on Monday, February 5th. Wells Fargo & Company raised their price objective on The Cigna Group from $334.00 to $348.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. Finally, Barclays started coverage on The Cigna Group in a research note on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 price target for the company. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $362.14.

Insider Activity

In other news, CEO David Cordani sold 38,065 shares of the stock in a transaction dated Friday, February 9th. The shares were 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 owns 329,321 shares in the company, valued at $110,394,985.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO David Cordani sold 38,065 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 329,321 shares in the company, valued at approximately $110,394,985.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Eric P. Palmer sold 1,017 shares of The Cigna Group stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $335.26, for a total value of $340,959.42. Following the completion of the sale, the insider now directly owns 45,564 shares in the company, valued at approximately $15,275,786.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 114,144 shares of company stock valued at $39,296,330. 0.70% of the stock is currently owned by company insiders.

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.