9,185 Shares in The Cigna Group (NYSE:CI) Purchased by Mystic Asset Management Inc.

Mystic Asset Management Inc. bought a new stake in The Cigna Group (NYSE:CI) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 9,185 shares of the health services provider’s stock, valued at approximately $2,536,000.

Several other institutional investors also recently made changes to their positions in the stock. TCTC Holdings LLC bought a new stake in shares of The Cigna Group in the 4th quarter worth approximately $25,000. Collier Financial acquired a new stake in The Cigna Group in the fourth quarter worth $32,000. ORG Wealth Partners LLC bought a new stake in The Cigna Group in the fourth quarter valued at $34,000. Prospera Private Wealth LLC bought a new stake in The Cigna Group in the third quarter valued at $37,000. Finally, Compagnie Lombard Odier SCmA acquired a new position in shares of The Cigna Group during the fourth quarter valued at $37,000. 86.99% of the stock is owned by institutional investors.

The Cigna Group Price Performance

NYSE:CI opened at $317.23 on Tuesday. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70. The business’s 50-day moving average price is $297.55 and its 200 day moving average price is $315.92. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The firm has a market cap of $86.82 billion, a P/E ratio of 25.92, a PEG ratio of 0.98 and a beta of 0.53.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same quarter last year, the firm posted $6.79 earnings per share. As a group, sell-side analysts predict that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date is Wednesday, March 5th. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio is 49.35%.

Wall Street Analyst Weigh In

CI has been the topic of a number of analyst reports. Sanford C. Bernstein cut shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective on the stock. in a report on Thursday, February 6th. Cantor Fitzgerald dropped their price target on shares of The Cigna Group from $400.00 to $350.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Truist Financial cut their price target on The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. Barclays decreased their price objective on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Finally, Morgan Stanley cut their target price on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $372.31.

Insider Transactions at The Cigna Group

In other The Cigna Group news, Director Elder Granger sold 2,376 shares of the business’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $310.35, for a total transaction of $737,391.60. Following the sale, the director now owns 5,471 shares in the company, valued at approximately $1,697,924.85. The trade was a 30.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David Cordani sold 26,527 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the completion of the transaction, the chief executive officer now owns 127,767 shares of the company’s stock, valued at approximately $39,367,568.04. The trade was a 17.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,751 shares of company stock valued at $13,603,991 in the last three months. 0.60% of the stock is currently owned by corporate insiders.

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.