Gateway Wealth Partners LLC Buys Shares of 3,270 Cigna Group $CI

Gateway Wealth Partners LLC purchased a new stake in Cigna Group (NYSE:CI) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 3,270 shares of the health services provider’s stock, valued at approximately $872,000.

A number of other institutional investors also recently modified their holdings of the business. Cary Street Partners Investment Advisory LLC lifted its position in shares of Cigna Group by 11.0% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 363 shares of the health services provider’s stock worth $100,000 after buying an additional 36 shares during the last quarter. OLD National Bancorp IN grew its position in Cigna Group by 3.7% in the fourth quarter. OLD National Bancorp IN now owns 1,031 shares of the health services provider’s stock valued at $284,000 after acquiring an additional 37 shares during the last quarter. IHT Wealth Management LLC grew its position in Cigna Group by 2.5% in the fourth quarter. IHT Wealth Management LLC now owns 1,535 shares of the health services provider’s stock valued at $423,000 after acquiring an additional 38 shares during the last quarter. Whetstone Capital Advisors LLC raised its stake in Cigna Group by 4.9% during the fourth quarter. Whetstone Capital Advisors LLC now owns 829 shares of the health services provider’s stock worth $228,000 after acquiring an additional 39 shares in the last quarter. Finally, CYBER HORNET ETFs LLC raised its stake in Cigna Group by 5.3% during the fourth quarter. CYBER HORNET ETFs LLC now owns 801 shares of the health services provider’s stock worth $220,000 after acquiring an additional 40 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CI. Wall Street Zen upgraded shares of Cigna Group from a “hold” rating to a “buy” rating in a research note on Saturday, June 20th. Morgan Stanley upped their price objective on shares of Cigna Group from $355.00 to $361.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 20th. Robert W. Baird set a $337.00 price objective on shares of Cigna Group in a research note on Friday, May 1st. Piper Sandler cut their target price on shares of Cigna Group from $370.00 to $346.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 3rd. Finally, Wolfe Research reaffirmed an “outperform” rating and set a $315.00 target price on shares of Cigna Group in a research note on Tuesday, June 16th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $338.80.

Cigna Group Stock Performance

NYSE:CI opened at $297.42 on Thursday. The stock has a market cap of $78.68 billion, a P/E ratio of 12.61, a price-to-earnings-growth ratio of 1.16 and a beta of 0.29. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.69. The stock’s 50-day moving average is $286.64 and its 200-day moving average is $281.06. Cigna Group has a 1-year low of $239.51 and a 1-year high of $315.47.

Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, April 30th. The health services provider reported $7.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.60 by $0.19. The business had revenue of $68.52 billion during the quarter, compared to analyst estimates of $66.29 billion. Cigna Group had a net margin of 2.26% and a return on equity of 19.75%. During the same quarter last year, the business earned $6.74 EPS. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. Equities research analysts anticipate that Cigna Group will post 30.39 earnings per share for the current year.

Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Tuesday, September 8th will be issued a dividend of $1.56 per share. This represents a $6.24 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Tuesday, September 8th. Cigna Group’s payout ratio is presently 26.45%.

Insider Activity at Cigna Group

In other news, CAO Jamie G. Kates sold 899 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $298.61, for a total transaction of $268,450.39. Following the completion of the transaction, the chief accounting officer owned 2,368 shares of the company’s stock, valued at approximately $707,108.48. This trade represents a 27.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Cordani sold 201,878 shares of Cigna Group stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $292.82, for a total transaction of $59,113,915.96. Following the transaction, the chief executive officer owned 34,337 shares in the company, valued at approximately $10,054,560.34. This trade represents a 85.46% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.60% of the company’s stock.

Cigna Group Profile

Cigna Group (NYSE: CI) is a global health services company that offers a broad portfolio of healthcare products and insurance solutions for individuals, employers, and governments. Its core businesses include medical and behavioral health plans, dental and vision coverage, pharmacy benefit management, and supplemental health products. Cigna serves a mix of commercial, Medicare, and Medicaid customers and provides workplace benefits such as group health plans and disability and life benefits for employers.

In addition to traditional insurance products, Cigna operates health services and care-delivery platforms designed to manage costs and improve outcomes.