Eads & Heald Wealth Management Has $649,000 Position in The Cigna Group (NYSE:CI)

Eads & Heald Wealth Management grew its stake in shares of The Cigna Group (NYSE:CI) by 2.1% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 2,167 shares of the health services provider’s stock after buying an additional 44 shares during the period. Eads & Heald Wealth Management’s holdings in The Cigna Group were worth $649,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in CI. Bogart Wealth LLC raised 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 worth $26,000 after purchasing an additional 46 shares in the last quarter. OFI Invest Asset Management acquired a new position in The Cigna Group in the third quarter worth about $26,000. Fairfield Bush & CO. acquired a new position in The Cigna Group in the second quarter worth about $28,000. Fortitude Family Office LLC acquired a new position in The Cigna Group in the fourth quarter worth about $29,000. Finally, Optimum Investment Advisors raised its position in The Cigna Group by 110.0% in the third quarter. Optimum Investment Advisors now owns 105 shares of the health services provider’s stock worth $30,000 after purchasing an additional 55 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $392.00 price objective (up from $382.00) on shares of The Cigna Group in a research note on Monday, March 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 research note on Monday, February 5th. Barclays assumed coverage on shares of The Cigna Group in a research note on Wednesday, March 6th. They set an “overweight” rating and a $393.00 price objective on the stock. Royal Bank of Canada raised shares of The Cigna Group from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $327.00 to $354.00 in a research note on Monday, February 5th. Finally, Oppenheimer reissued an “outperform” rating and set a $360.00 price target on shares of The Cigna Group in a research note on Wednesday, January 17th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $362.14.

The Cigna Group Trading Down 0.1 %

CI traded down $0.28 during mid-day trading on Tuesday, hitting $348.62. The stock had a trading volume of 395,982 shares, compared to its average volume of 1,588,303. The stock’s fifty day simple moving average is $347.04 and its 200-day simple moving average is $314.14. 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 firm has a market capitalization of $101.92 billion, a price-to-earnings ratio of 20.06, a price-to-earnings-growth ratio of 1.07 and a beta of 0.56. The Cigna Group has a 1-year low of $240.50 and a 1-year high of $365.71.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Friday, February 2nd. The health services provider reported $6.79 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $51.15 billion for the quarter, compared to analyst estimates of $48.91 billion. During the same period last year, the business posted $4.96 earnings per share. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. As a group, research analysts forecast that The Cigna Group will post 28.36 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The business 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. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.61%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.23. The ex-dividend date of this dividend was Tuesday, March 5th. The Cigna Group’s dividend payout ratio (DPR) is presently 32.20%.

Insider Buying and Selling

In related news, insider Eric P. Palmer sold 1,017 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 45,564 shares of the company’s stock, valued at $15,275,786.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO David Cordani sold 31,209 shares of The Cigna Group 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 completion of the transaction, the chief executive officer now owns 348,054 shares of the company’s stock, valued at approximately $123,618,339.18. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Eric P. Palmer sold 1,017 shares of The Cigna Group stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $335.26, for a total transaction of $340,959.42. Following the sale, the insider now directly owns 45,564 shares of the company’s stock, valued at approximately $15,275,786.64. The disclosure for this sale can be found here. Insiders have sold a total of 114,144 shares of company stock worth $39,296,330 over the last ninety days. Company insiders own 0.70% of the company’s stock.

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.