Successful Portfolios LLC Makes New Investment in The Cigna Group (NYSE:CI)

Successful Portfolios LLC purchased a new stake in shares of The Cigna Group (NYSE:CI) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 727 shares of the health services provider’s stock, valued at approximately $218,000.

A number of other large investors also recently modified their holdings of CI. Moneta Group Investment Advisors LLC grew its position in shares of The Cigna Group by 154,255.6% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 11,954,841 shares of the health services provider’s stock worth $3,961,117,000 after buying an additional 11,947,096 shares during the last quarter. Norges Bank purchased a new stake in The Cigna Group in the fourth quarter worth about $963,542,000. Parnassus Investments LLC bought a new position in shares of The Cigna Group in the third quarter worth about $731,041,000. FMR LLC raised its position in The Cigna Group by 13.8% during the third quarter. FMR LLC now owns 15,967,363 shares of the health services provider’s stock valued at $4,567,783,000 after purchasing an additional 1,939,554 shares during the period. Finally, Point72 Asset Management L.P. raised its holdings in shares of The Cigna Group by 13,563.1% in the second quarter. Point72 Asset Management L.P. now owns 596,121 shares of the health services provider’s stock worth $167,272,000 after buying an additional 591,758 shares during the period. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Stock Performance

NYSE CI traded down $0.15 on Thursday, hitting $363.19. 1,161,009 shares of the stock were exchanged, compared to its average volume of 1,658,810. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.67. The business’s fifty day moving average is $333.26 and its 200 day moving average is $307.47. The Cigna Group has a 52 week low of $240.50 and a 52 week high of $365.71. The company has a market capitalization of $106.18 billion, a PE ratio of 20.95, a P/E/G ratio of 1.10 and a beta of 0.55.

The Cigna Group (NYSE:CI) last released its earnings results on Friday, February 2nd. The health services provider reported $6.79 EPS for the quarter, topping analysts’ consensus estimates of $6.54 by $0.25. The Cigna Group had a return on equity of 13.59% and a net margin of 2.64%. The company had revenue of $51.15 billion for the quarter, compared to analysts’ expectations of $48.91 billion. During the same period in the previous year, the business posted $4.96 EPS. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. Research analysts anticipate that The Cigna Group will post 28.36 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Wednesday, March 6th were paid a dividend of $1.40 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $5.60 annualized dividend and a yield of 1.54%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.23. The Cigna Group’s payout ratio is presently 32.20%.

Insider Transactions at The Cigna Group

In related news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the completion of the transaction, the senior vice president now directly owns 2,102 shares of the company’s stock, valued at $694,668.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of The Cigna Group stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the completion of the sale, the senior vice president now directly owns 2,102 shares in the company, valued at approximately $694,668.96. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO David Cordani sold 38,065 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $335.22, for a total transaction of $12,760,149.30. Following the completion of the transaction, the chief executive officer now owns 329,321 shares of the company’s stock, valued at $110,394,985.62. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 114,144 shares of company stock worth $39,296,330. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Mizuho raised their price objective on The Cigna Group from $360.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. Wells Fargo & Company increased their target price on The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. Sanford C. Bernstein raised shares of The Cigna Group from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $330.00 to $372.00 in a report on Thursday, January 4th. Morgan Stanley reaffirmed an “overweight” rating and issued a $392.00 target price (up from $382.00) on shares of The Cigna Group in a report on Monday, March 4th. Finally, Jefferies Financial Group upgraded shares of The Cigna Group from a “hold” rating to a “buy” rating and raised their target price for the stock from $335.00 to $341.00 in a research report on Monday, December 11th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $361.29.

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.