The Cigna Group (NYSE:CI) Shares Bought by OneAscent Financial Services LLC

OneAscent Financial Services LLC grew its holdings in The Cigna Group (NYSE:CI) by 39.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,832 shares of the health services provider’s stock after buying an additional 520 shares during the quarter. OneAscent Financial Services LLC’s holdings in The Cigna Group were worth $506,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. TCTC Holdings LLC purchased a new stake in The Cigna Group in the 4th quarter worth $25,000. Collier Financial purchased a new stake in shares of The Cigna Group during the fourth quarter worth about $32,000. ORG Wealth Partners LLC acquired a new position in shares of The Cigna Group during the 4th quarter worth about $34,000. Compagnie Lombard Odier SCmA purchased a new position in The Cigna Group in the 4th quarter valued at about $37,000. Finally, Heck Capital Advisors LLC acquired a new stake in The Cigna Group in the 4th quarter worth about $53,000. 86.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO David Cordani sold 26,527 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value 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. This trade represents a 17.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 sale, the insider now directly owns 29,421 shares in the company, valued at approximately $9,065,198.52. The trade was a 14.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,751 shares of company stock valued at $13,603,991. Company insiders own 0.70% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CI shares. Royal Bank of Canada set a $355.00 target price on The Cigna Group in a research report on Friday, January 31st. Raymond James reaffirmed a “strong-buy” rating and set a $360.00 target price (down previously from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Cantor Fitzgerald increased their target price on shares of The Cigna Group from $350.00 to $365.00 and gave the company an “overweight” rating in a research report on Thursday, March 20th. Stephens lowered their price target on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Finally, Wells Fargo & Company dropped their price objective 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. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $373.25.

The Cigna Group Price Performance

CI stock opened at $338.76 on Friday. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The business has a fifty day moving average of $308.16 and a two-hundred day moving average of $313.31. The stock has a market cap of $92.71 billion, a price-to-earnings ratio of 27.68, a price-to-earnings-growth ratio of 0.98 and a beta of 0.50. 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 Cigna Group (NYSE:CI) last issued 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 net margin of 1.39% and a return on equity of 18.61%. During the same quarter in the previous year, the business earned $6.79 earnings per share. As a group, research analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were issued a $1.51 dividend. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend was Wednesday, March 5th. The Cigna Group’s dividend payout ratio is currently 49.35%.

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.