Signal Advisors Wealth LLC Boosts Stock Holdings in The Cigna Group (NYSE:CI)

Signal Advisors Wealth LLC raised its stake in The Cigna Group (NYSE:CI) by 106.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,827 shares of the health services provider’s stock after buying an additional 941 shares during the period. Signal Advisors Wealth LLC’s holdings in The Cigna Group were worth $601,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. TCTC Holdings LLC purchased a new position in The Cigna Group in the fourth quarter valued at about $25,000. Collier Financial purchased a new position in The Cigna Group in the fourth quarter valued at about $32,000. Putney Financial Group LLC purchased a new position in The Cigna Group in the fourth quarter valued at about $36,000. Compagnie Lombard Odier SCmA purchased a new position in The Cigna Group in the fourth quarter valued at about $37,000. Finally, Transce3nd LLC purchased a new position in The Cigna Group in the fourth quarter valued at about $38,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CI. Robert W. Baird dropped their target price on shares of The Cigna Group from $388.00 to $362.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. Piper Sandler increased their target price on shares of The Cigna Group from $348.00 to $374.00 and gave the company an “overweight” rating in a report on Monday, May 5th. Cowen reaffirmed a “buy” rating on shares of The Cigna Group in a report on Monday, May 5th. Cantor Fitzgerald raised their price objective on shares of The Cigna Group from $350.00 to $365.00 and gave the stock an “overweight” rating in a research note on Thursday, March 20th. Finally, Wall Street Zen raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 8th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $380.39.

Insider Buying and Selling

In other The Cigna Group news, Director Elder Granger sold 2,376 shares of The Cigna Group 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 transaction, the director now owns 5,471 shares in the company, valued at $1,697,924.85. This trade represents a 30.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.70% of the stock is owned by company insiders.

The Cigna Group Stock Up 0.2%

Shares of NYSE CI opened at $311.68 on Friday. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The firm’s 50 day moving average price is $323.39 and its 200 day moving average price is $309.15. The firm has a market cap of $83.26 billion, a P/E ratio of 25.46, a price-to-earnings-growth ratio of 0.98 and a beta of 0.44. 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 Cigna Group (NYSE:CI) last announced its earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.35 by $0.39. The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. The firm had revenue of $65.45 billion for the quarter, compared to analyst estimates of $60.39 billion. During the same quarter last year, the business earned $6.47 earnings per share. The Cigna Group’s revenue was up 14.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be given a dividend of $1.51 per share. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $6.04 dividend on an annualized basis and a yield of 1.94%. The Cigna Group’s dividend payout ratio (DPR) is currently 33.44%.

About The Cigna Group

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.