J.W. Cole Advisors Inc. Increases Stock Position in The Cigna Group (NYSE:CI)

J.W. Cole Advisors Inc. increased its position in The Cigna Group (NYSE:CI) by 23.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,285 shares of the health services provider’s stock after purchasing an additional 440 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in The Cigna Group were worth $684,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Mach 1 Financial Group LLC raised its holdings in The Cigna Group by 45.4% in the third quarter. Mach 1 Financial Group LLC now owns 5,932 shares of the health services provider’s stock valued at $1,697,000 after acquiring an additional 1,851 shares in the last quarter. GHP Investment Advisors Inc. raised its holdings in The Cigna Group by 1.6% in the third quarter. GHP Investment Advisors Inc. now owns 23,637 shares of the health services provider’s stock valued at $7,211,000 after acquiring an additional 376 shares in the last quarter. Royal Fund Management LLC raised its holdings in The Cigna Group by 3.1% in the third quarter. Royal Fund Management LLC now owns 4,009 shares of the health services provider’s stock valued at $1,147,000 after acquiring an additional 122 shares in the last quarter. Howland Capital Management LLC raised its holdings in The Cigna Group by 6.9% in the third quarter. Howland Capital Management LLC now owns 1,556 shares of the health services provider’s stock valued at $445,000 after acquiring an additional 100 shares in the last quarter. Finally, Meridian Wealth Management LLC raised its holdings in The Cigna Group by 617.2% in the third quarter. Meridian Wealth Management LLC now owns 7,488 shares of the health services provider’s stock valued at $2,142,000 after acquiring an additional 6,444 shares in the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at The Cigna Group

In related news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total value of $1,608,446.16. Following the completion of the transaction, the senior vice president now owns 2,102 shares in the company, valued at approximately $694,668.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the completion of the transaction, the senior vice president now owns 2,102 shares in the company, valued at approximately $694,668.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO David Cordani sold 31,209 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 348,054 shares of the company’s stock, valued at approximately $123,618,339.18. The disclosure for this sale can be found here. Insiders sold 114,144 shares of company stock worth $39,296,330 in the last 90 days. Corporate insiders own 0.70% of the company’s stock.

The Cigna Group Stock Up 0.2 %

CI stock opened at $353.18 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The Cigna Group has a fifty-two week low of $240.50 and a fifty-two week high of $365.71. The firm’s 50-day simple moving average is $348.73 and its 200 day simple moving average is $316.39. The stock has a market cap of $103.26 billion, a PE ratio of 20.31, a price-to-earnings-growth ratio of 1.08 and a beta of 0.56.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Friday, February 2nd. The health services provider reported $6.79 earnings per share for the quarter, topping analysts’ consensus estimates of $6.54 by $0.25. The business had revenue of $51.15 billion for the quarter, compared to analysts’ expectations of $48.91 billion. The Cigna Group had a net margin of 2.64% and a return on equity of 13.59%. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter last year, the company earned $4.96 EPS. As a group, sell-side analysts predict that The Cigna Group will post 28.36 EPS for the current year.

The Cigna Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Wednesday, March 6th were given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend was Tuesday, March 5th. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.23. The Cigna Group’s dividend payout ratio is currently 32.20%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CI. Wells Fargo & Company upped their price target on shares of The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. Mizuho increased their target price on shares of The Cigna Group from $360.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, February 5th. Morgan Stanley reissued an “overweight” rating and set a $392.00 target price (up from $382.00) on shares of The Cigna Group in a report on Monday, March 4th. Sanford C. Bernstein raised shares of The Cigna Group from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $330.00 to $372.00 in a report on Thursday, January 4th. Finally, Royal Bank of Canada raised shares of The Cigna Group from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $327.00 to $354.00 in a report on Monday, February 5th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, The Cigna Group presently has an average rating of “Buy” and an average price target of $362.14.

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.