The Cigna Group (NYSE:CI) Shares Bought by Ashton Thomas Private Wealth LLC

Ashton Thomas Private Wealth LLC grew its stake in shares of The Cigna Group (NYSE:CI) by 13.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,986 shares of the health services provider’s stock after purchasing an additional 362 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in The Cigna Group were worth $824,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Callan Family Office LLC purchased a new position in shares of The Cigna Group during the fourth quarter worth approximately $2,599,000. E Fund Management Co. Ltd. grew its position in shares of The Cigna Group by 98.6% during the fourth quarter. E Fund Management Co. Ltd. now owns 1,791 shares of the health services provider’s stock worth $495,000 after acquiring an additional 889 shares during the last quarter. Candriam S.C.A. grew its position in shares of The Cigna Group by 210.5% during the fourth quarter. Candriam S.C.A. now owns 76,881 shares of the health services provider’s stock worth $21,230,000 after acquiring an additional 52,119 shares during the last quarter. One Capital Management LLC grew its position in shares of The Cigna Group by 0.8% during the fourth quarter. One Capital Management LLC now owns 39,339 shares of the health services provider’s stock worth $10,863,000 after acquiring an additional 324 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of The Cigna Group during the fourth quarter worth approximately $313,911,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Barclays lowered 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. Royal Bank of Canada set a $355.00 target price on shares of The Cigna Group in a research report on Friday, January 31st. Cantor Fitzgerald lowered their target price on shares of The Cigna Group from $400.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. StockNews.com upgraded shares of The Cigna Group from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Finally, Truist Financial lowered their price objective on shares of The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, The Cigna Group currently has an average rating of “Buy” and an average target price of $372.31.

The Cigna Group Stock Performance

Shares of CI opened at $321.48 on Monday. The business’s 50 day moving average is $292.84 and its two-hundred day moving average is $317.54. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The firm has a market cap of $87.98 billion, a price-to-earnings ratio of 26.26, a PEG ratio of 0.98 and a beta of 0.53. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period last year, the business earned $6.79 earnings per share. Analysts forecast that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be given a dividend of $1.51 per share. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend is Wednesday, March 5th. The Cigna Group’s dividend payout ratio is currently 49.35%.

Insider Activity at The Cigna Group

In related news, CEO David Cordani sold 26,527 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the sale, the chief executive officer now directly owns 127,767 shares of the company’s stock, valued at approximately $39,367,568.04. This represents a 17.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Nicole S. Jones sold 4,904 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $1,511,020.48. Following the sale, the insider now directly owns 29,421 shares in the company, valued at approximately $9,065,198.52. This represents a 14.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.

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.