Pinnacle Wealth Management Advisory Group LLC Has $352,000 Stake in The Cigna Group (NYSE:CI)

Pinnacle Wealth Management Advisory Group LLC raised its holdings in The Cigna Group (NYSE:CI) by 23.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,174 shares of the health services provider’s stock after buying an additional 220 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in The Cigna Group were worth $352,000 as of its most recent filing with the Securities and Exchange Commission.

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

The Cigna Group Trading Up 0.6 %

The Cigna Group stock traded up $2.00 during midday trading on Thursday, reaching $349.35. 546,367 shares of the stock traded hands, compared to its average volume of 1,575,637. The Cigna Group has a 12-month low of $240.50 and a 12-month high of $365.71. The company has a 50-day simple moving average of $350.89 and a two-hundred day simple moving average of $320.21. The firm has a market cap of $99.24 billion, a PE ratio of 28.51, a price-to-earnings-growth ratio of 1.04 and a beta of 0.57. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.75.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, May 2nd. The health services provider reported $6.47 earnings per share for the quarter, beating the consensus estimate of $6.17 by $0.30. The business had revenue of $57.25 billion during the quarter, compared to the consensus estimate of $56.59 billion. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The company’s revenue was up 23.2% compared to the same quarter last year. During the same period in the prior year, the company earned $5.41 earnings per share. Research analysts expect that The Cigna Group will post 28.45 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.60%. The Cigna Group’s payout ratio is 45.98%.

Analyst Ratings Changes

CI has been the subject of several recent analyst reports. Oppenheimer boosted their price objective on shares of The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Mizuho increased their price objective on The Cigna Group from $360.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, February 5th. Cantor Fitzgerald boosted their price objective on shares of The Cigna Group from $384.00 to $400.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Deutsche Bank Aktiengesellschaft raised shares of The Cigna Group from a “hold” rating to a “buy” rating and boosted their price target for the stock from $355.00 to $370.00 in a research note on Thursday, February 1st. Finally, Wells Fargo & Company boosted their target price on The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 6th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $366.14.

Insider Buying and Selling at The Cigna Group

In other news, CEO David Cordani sold 31,209 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $355.17, for a total transaction of $11,084,500.53. Following the completion of the transaction, the chief executive officer now directly owns 348,054 shares of the company’s stock, valued at approximately $123,618,339.18. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO David Cordani sold 31,209 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $355.17, for a total transaction of $11,084,500.53. Following the completion of the sale, the chief executive officer now directly owns 348,054 shares of the company’s stock, valued at approximately $123,618,339.18. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Eric P. Palmer sold 6,083 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $340.00, for a total value of $2,068,220.00. Following the completion of the sale, the insider now owns 44,649 shares of the company’s stock, valued at approximately $15,180,660. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 109,277 shares of company stock valued at $37,687,884. 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.