Garden State Investment Advisory Services LLC Has $377,000 Stake in The Cigna Group (NYSE:CI)

Garden State Investment Advisory Services LLC raised its holdings in The Cigna Group (NYSE:CI) by 6.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,363 shares of the health services provider’s stock after buying an additional 84 shares during the period. Garden State Investment Advisory Services LLC’s holdings in The Cigna Group were worth $377,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Barclays decreased their target price on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Guggenheim assumed coverage on The Cigna Group in a research report on Wednesday, April 9th. They issued a “buy” rating and a $384.00 target price on the stock. Morgan Stanley dropped their price objective on shares of 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. Wells Fargo & Company reduced their price objective on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $348.00 target price (down from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $373.56.

The Cigna Group Stock Performance

Shares of CI opened at $328.44 on Wednesday. The stock has a 50-day moving average price of $313.58 and a 200-day moving average price of $311.06. The company has a market cap of $89.89 billion, a PE ratio of 26.83, a price-to-earnings-growth 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 has a 12-month low of $262.03 and a 12-month high of $370.83.

The Cigna Group (NYSE:CI) last issued its 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 return on equity of 18.61% and a net margin of 1.39%. During the same quarter in the previous year, the company earned $6.79 earnings per share. As a group, equities analysts forecast that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were issued a dividend of $1.51 per share. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.84%. The Cigna Group’s dividend payout ratio is 49.35%.

Insiders Place Their Bets

In other news, insider Nicole S. Jones sold 4,904 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 29,421 shares of the company’s stock, valued at $9,065,198.52. This represents a 14.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Elder Granger sold 2,376 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $310.35, for a total transaction of $737,391.60. Following the completion of the sale, the director now owns 5,471 shares in the company, valued at $1,697,924.85. This represents a 30.28 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,751 shares of company stock worth $13,603,991. 0.70% of the stock is 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.