Advisory Services Network LLC Acquires 816 Shares of The Cigna Group (NYSE:CI)

Advisory Services Network LLC boosted its holdings in shares of The Cigna Group (NYSE:CI) by 22.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,420 shares of the health services provider’s stock after purchasing an additional 816 shares during the period. Advisory Services Network LLC’s holdings in The Cigna Group were worth $1,220,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. TCTC Holdings LLC bought a new position in The Cigna Group during the 4th quarter valued at about $25,000. Collier Financial bought a new stake in The Cigna Group during the 4th quarter worth approximately $32,000. ORG Wealth Partners LLC acquired a new stake in The Cigna Group during the 4th quarter valued at $34,000. Compagnie Lombard Odier SCmA bought a new position in The Cigna Group in the 4th quarter valued at $37,000. Finally, Heck Capital Advisors LLC acquired a new position in The Cigna Group in the fourth quarter worth $53,000. 86.99% of the stock is owned by institutional investors and hedge funds.

The Cigna Group Stock Performance

Shares of The Cigna Group stock opened at $329.52 on Friday. The stock’s fifty day simple moving average is $312.04 and its 200 day simple moving average is $311.31. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $90.18 billion, a PE ratio of 26.92, a PEG ratio of 0.98 and a beta of 0.51. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing analysts’ consensus estimates of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same period last year, the business posted $6.79 EPS. On average, research analysts predict that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were issued a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 1.83%. The ex-dividend date was Wednesday, March 5th. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio is 49.35%.

Insider Transactions at The Cigna Group

In other news, CEO David Cordani sold 26,527 shares of The Cigna Group 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 $8,173,499.24. Following the sale, the chief executive officer now directly owns 127,767 shares in the company, valued at $39,367,568.04. This trade represents a 17.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Elder Granger sold 2,376 shares of the business’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $310.35, for a total transaction of $737,391.60. Following the completion of the sale, the director now directly owns 5,471 shares in the company, valued at approximately $1,697,924.85. This represents a 30.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,751 shares of company stock valued at $13,603,991 over the last quarter. Corporate insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

CI has been the subject of a number of research reports. Guggenheim assumed coverage on The Cigna Group in a research note on Wednesday. They issued a “buy” rating and a $384.00 target price for the company. Royal Bank of Canada set a $355.00 target price on shares of The Cigna Group in a research note on Friday, January 31st. Sanford C. Bernstein lowered shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 target price on the stock. in a research report on Thursday, February 6th. Piper Sandler reissued an “overweight” rating and issued a $348.00 price target (down previously from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Finally, Wells Fargo & Company reduced their price objective on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, The Cigna Group currently has a consensus rating of “Buy” and a consensus price target of $375.00.

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.