Simplicity Wealth LLC Acquires Shares of 754 The Cigna Group (NYSE:CI)

Simplicity Wealth LLC acquired a new stake in shares of The Cigna Group (NYSE:CI) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 754 shares of the health services provider’s stock, valued at approximately $208,000.

Other institutional investors also recently added to or reduced their stakes in the company. Collier Financial acquired a new stake in The Cigna Group during the fourth quarter valued at approximately $32,000. ORG Wealth Partners LLC acquired a new position in shares of The Cigna Group in the 4th quarter worth approximately $34,000. Prospera Private Wealth LLC acquired a new position in shares of The Cigna Group in the 3rd quarter worth approximately $37,000. Compagnie Lombard Odier SCmA acquired a new position in shares of The Cigna Group in the 4th quarter worth approximately $37,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of The Cigna Group in the 4th quarter worth approximately $53,000. 86.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Cantor Fitzgerald reduced their target price on The Cigna Group from $400.00 to $350.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Morgan Stanley reduced their target price on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. UBS Group reduced their target price on The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Raymond James reissued a “strong-buy” rating and issued a $360.00 target price (down from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $348.00 price objective (down previously from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $372.31.

The Cigna Group Stock Performance

Shares of The Cigna Group stock opened at $317.24 on Wednesday. The firm has a fifty day moving average of $294.70 and a two-hundred day moving average of $317.14. The stock has a market capitalization of $86.82 billion, a price-to-earnings ratio of 25.92, a PEG ratio of 0.98 and a beta of 0.53. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. 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 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 net margin of 1.39% and a return on equity of 18.61%. During the same quarter in the prior year, the firm posted $6.79 EPS. As a group, equities research analysts predict that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be given a $1.51 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.90%. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio is currently 49.35%.

Insider Activity at The Cigna Group

In related news, insider Noelle K. Eder sold 9,944 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $320.00, for a total value of $3,182,080.00. Following the completion of the transaction, the insider now directly owns 13,406 shares of the company’s stock, valued at approximately $4,289,920. This represents a 42.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David Cordani sold 26,527 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 $8,173,499.24. Following the completion of the transaction, the chief executive officer now directly owns 127,767 shares of the company’s stock, valued at approximately $39,367,568.04. The trade was a 17.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,375 shares of company stock worth $12,866,600 in the last quarter. 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.