Summit Financial LLC Buys Shares of 877 The Cigna Group (NYSE:CI)

Summit Financial LLC bought a new position in shares of The Cigna Group (NYSE:CI) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 877 shares of the health services provider’s stock, valued at approximately $263,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bogart Wealth LLC grew its holdings in The Cigna Group by 104.5% during 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 period. OFI Invest Asset Management acquired a new position in shares of The Cigna Group in the 3rd quarter valued at $26,000. Fortitude Family Office LLC bought a new stake in shares of The Cigna Group in the 4th quarter valued at $29,000. VisionPoint Advisory Group LLC raised 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 period. Finally, Pacifica Partners Inc. grew its stake 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 valued at $43,000 after acquiring an additional 60 shares during the period. 86.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

CI has been the subject of several research analyst reports. Royal Bank of Canada upgraded The Cigna Group from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $327.00 to $354.00 in a research report on Monday, February 5th. Deutsche Bank Aktiengesellschaft raised shares of The Cigna Group from a “hold” rating to a “buy” rating and increased their price objective for the stock from $355.00 to $370.00 in a research report on Thursday, February 1st. Oppenheimer upped their target price on shares of The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a research note on Friday. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 14th. Finally, 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 report on Monday, March 4th. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $366.14.

Insider Activity

In other The Cigna Group news, CEO David Cordani sold 38,065 shares of The Cigna Group stock in a transaction on 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 transaction, the chief executive officer now directly owns 329,321 shares of the company’s stock, valued at $110,394,985.62. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other The Cigna Group 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 value of $12,760,149.30. Following the transaction, the chief executive officer now directly owns 329,321 shares of the company’s stock, valued at approximately $110,394,985.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the business’s 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 owns 2,102 shares of the company’s stock, valued at approximately $694,668.96. The disclosure for this sale can be found here. Insiders sold a total of 114,144 shares of company stock valued at $39,296,330 over the last three months. Insiders own 0.60% of the company’s stock.

The Cigna Group Trading Down 0.9 %

NYSE CI opened at $341.45 on Friday. The company has a market cap of $99.83 billion, a PE ratio of 28.03, a PEG ratio of 1.05 and a beta of 0.57. The Cigna Group has a 12 month low of $240.50 and a 12 month high of $365.71. The stock has a 50 day moving average of $350.82 and a 200-day moving average of $319.39. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 0.75.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, beating analysts’ consensus estimates of $6.17 by $0.30. The firm had revenue of $57.25 billion during the quarter, compared to analysts’ expectations of $56.59 billion. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same quarter last year, the company posted $5.41 earnings per share. On average, equities research analysts anticipate that The Cigna Group will post 28.4 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th will be paid a $1.40 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $5.60 annualized dividend and a yield of 1.64%. The Cigna Group’s dividend payout ratio is 45.98%.

The Cigna Group Company 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.