1,646 Shares in The Cigna Group (NYSE:CI) Purchased by GAMMA Investing LLC

GAMMA Investing LLC bought a new stake in shares of The Cigna Group (NYSE:CI) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,646 shares of the health services provider’s stock, valued at approximately $495,000.

Other large investors have also modified their holdings of the company. Bogart Wealth LLC grew its stake 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 purchasing an additional 46 shares during the last quarter. OFI Invest Asset Management bought a new position in shares of The Cigna Group during the 3rd quarter worth approximately $26,000. Fortitude Family Office LLC purchased a new stake in The Cigna Group during the fourth quarter valued at approximately $29,000. VisionPoint Advisory Group LLC boosted its stake in The Cigna Group by 112.2% in the third quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock valued at $30,000 after acquiring an additional 55 shares in the last quarter. Finally, Pacifica Partners Inc. grew its holdings in The Cigna Group by 73.2% in the fourth quarter. Pacifica Partners Inc. now owns 142 shares of the health services provider’s stock worth $43,000 after purchasing an additional 60 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

CI has been the subject of several analyst reports. Wells Fargo & Company increased their price objective on The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. Deutsche Bank Aktiengesellschaft upgraded shares of The Cigna Group from a “hold” rating to a “buy” rating and upped their price objective for the company from $355.00 to $370.00 in a report on Thursday, February 1st. StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 14th. Barclays started 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 target on the stock. Finally, Royal Bank of Canada upgraded shares of The Cigna Group from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $327.00 to $354.00 in a research note on Monday, February 5th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, The Cigna Group has an average rating of “Buy” and a consensus target price of $362.14.

The Cigna Group Stock Performance

Shares of NYSE CI traded down $0.76 during midday trading on Wednesday, reaching $351.89. 378,301 shares of the stock were exchanged, compared to its average volume of 1,578,596. 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 firm has a market cap of $102.88 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 1.08 and a beta of 0.56. The firm has a 50-day simple moving average of $349.03 and a two-hundred day simple moving average of $316.84. 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 results on Friday, February 2nd. The health services provider reported $6.79 EPS for the quarter, beating the consensus estimate of $6.54 by $0.25. The company had revenue of $51.15 billion for the quarter, compared to analyst estimates of $48.91 billion. The Cigna Group had a net margin of 2.64% and a return on equity of 13.59%. The firm’s revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the business earned $4.96 earnings per share. As a group, analysts anticipate that The Cigna Group will post 28.36 EPS for the current fiscal 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 given a dividend of $1.40 per share. 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. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.59%. The Cigna Group’s dividend payout ratio (DPR) is 32.20%.

Insider Buying and Selling at The Cigna Group

In other news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of The Cigna Group stock in a transaction that occurred 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 sale, the senior vice president now directly owns 2,102 shares of the company’s stock, valued at $694,668.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO David Cordani sold 38,065 shares of the company’s 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 transaction, the chief executive officer now owns 329,321 shares of the company’s stock, valued at approximately $110,394,985.62. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the completion of the sale, the senior vice president now owns 2,102 shares in the company, valued at $694,668.96. The disclosure for this sale can be found here. Insiders have sold a total of 114,144 shares of company stock valued at $39,296,330 over the last ninety days. Corporate insiders own 0.70% of the company’s stock.

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.