Physician Wealth Advisors Inc. Acquires Shares of 2,644 The Cigna Group (NYSE:CI)

Physician Wealth Advisors Inc. bought a new position in The Cigna Group (NYSE:CI) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,644 shares of the health services provider’s stock, valued at approximately $730,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. CreativeOne Wealth LLC boosted its stake in shares of The Cigna Group by 3.0% in the 3rd quarter. CreativeOne Wealth LLC now owns 1,219 shares of the health services provider’s stock valued at $422,000 after purchasing an additional 35 shares in the last quarter. Public Sector Pension Investment Board boosted its position in The Cigna Group by 5.5% in the third quarter. Public Sector Pension Investment Board now owns 11,603 shares of the health services provider’s stock valued at $4,020,000 after buying an additional 600 shares in the last quarter. Rockefeller Capital Management L.P. grew its stake in The Cigna Group by 10.1% during the third quarter. Rockefeller Capital Management L.P. now owns 61,725 shares of the health services provider’s stock worth $21,389,000 after buying an additional 5,642 shares during the last quarter. Captrust Financial Advisors increased its holdings in shares of The Cigna Group by 21.9% during the third quarter. Captrust Financial Advisors now owns 29,272 shares of the health services provider’s stock worth $10,141,000 after buying an additional 5,262 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its stake in shares of The Cigna Group by 22.0% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 507,299 shares of the health services provider’s stock valued at $175,749,000 after acquiring an additional 91,637 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

Insider Buying and Selling

In other The Cigna Group news, insider Nicole S. Jones sold 4,904 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the completion of the transaction, the insider now owns 29,421 shares of the company’s stock, valued at $9,065,198.52. This represents a 14.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Noelle K. Eder sold 9,944 shares of The Cigna Group stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the completion of the sale, the insider now owns 13,406 shares in the company, valued at $4,289,920. This trade represents a 42.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,751 shares of company stock valued at $13,603,991. Company insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

CI has been the subject of a number of recent analyst reports. Cantor Fitzgerald raised their price target on The Cigna Group from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Thursday, March 20th. Morgan Stanley lowered their target price on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Oppenheimer reduced their price target on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a research report on Friday, January 31st. Wells Fargo & Company dropped their target price on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Finally, Raymond James reissued a “strong-buy” rating and set a $360.00 price target (down from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $373.25.

The Cigna Group Stock Up 0.1 %

Shares of NYSE CI opened at $324.97 on Friday. The firm has a 50 day moving average price of $304.67 and a 200 day moving average price of $313.78. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The stock has a market cap of $88.94 billion, a P/E ratio of 26.55, a P/E/G ratio of 0.98 and a beta of 0.53. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing analysts’ consensus estimates of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same quarter in the prior year, the firm posted $6.79 earnings per share. Analysts expect that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.86%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date was Wednesday, March 5th. The Cigna Group’s dividend payout ratio (DPR) is presently 49.35%.

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.