Belpointe Asset Management LLC Purchases 526 Shares of The Cigna Group (NYSE:CI)

Belpointe Asset Management LLC boosted its position in shares of The Cigna Group (NYSE:CI) by 30.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,237 shares of the health services provider’s stock after buying an additional 526 shares during the period. Belpointe Asset Management LLC’s holdings in The Cigna Group were worth $618,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CI. TCTC Holdings LLC purchased a new stake in shares of The Cigna Group during the 4th quarter valued at about $25,000. Collier Financial purchased a new stake in The Cigna Group during the fourth quarter valued at approximately $32,000. ORG Wealth Partners LLC bought a new stake in shares of The Cigna Group in the 4th quarter valued at approximately $34,000. Compagnie Lombard Odier SCmA purchased a new position in shares of The Cigna Group in the 4th quarter worth approximately $37,000. Finally, Heck Capital Advisors LLC bought a new position in shares of The Cigna Group during the 4th quarter valued at approximately $53,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Performance

Shares of The Cigna Group stock opened at $328.44 on Wednesday. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The stock’s fifty day moving average price is $313.58 and its 200-day moving average price is $311.06. The firm has a market cap of $89.89 billion, a P/E ratio of 26.83, a P/E/G ratio of 0.98 and a beta of 0.51. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 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 prior year, the business posted $6.79 earnings per share. On average, equities research analysts expect 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 declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were issued a $1.51 dividend. The ex-dividend date was Wednesday, March 5th. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.84%. The Cigna Group’s dividend payout ratio (DPR) is currently 49.35%.

Insider Transactions at The Cigna Group

In other The Cigna Group news, CEO David Cordani sold 26,527 shares of The Cigna Group stock in a transaction 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 transaction, the chief executive officer now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Elder Granger sold 2,376 shares of the stock in a transaction on Friday, March 14th. The shares were sold at an average price of $310.35, for a total value of $737,391.60. Following the sale, the director now owns 5,471 shares of the company’s stock, valued at approximately $1,697,924.85. This represents a 30.28 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 43,751 shares of company stock valued at $13,603,991. Corporate insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CI. Stephens lowered their price target on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Sanford C. Bernstein cut shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price target for the company. in a research note on Thursday, February 6th. Royal Bank of Canada set a $355.00 price target on shares of The Cigna Group in a report on Friday, January 31st. Oppenheimer decreased their price objective on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a research note on Friday, January 31st. Finally, Guggenheim initiated coverage on The Cigna Group in a research note on Wednesday, April 9th. They set a “buy” rating and a $384.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, The Cigna Group currently has a consensus rating of “Buy” and an average target price of $373.56.

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.