Landing Point Financial Group LLC Makes New Investment in The Cigna Group (NYSE:CI)

Landing Point Financial Group LLC bought a new position in shares of The Cigna Group (NYSE:CI) in the 4th quarter, HoldingsChannel reports. The fund bought 1,584 shares of the health services provider’s stock, valued at approximately $464,000.

Other large investors have also added to or reduced their stakes in the company. Garden State Investment Advisory Services LLC purchased a new stake in shares of The Cigna Group in the third quarter valued at about $444,000. Advisory Resource Group boosted its holdings in The Cigna Group by 2.0% during the third quarter. Advisory Resource Group now owns 13,163 shares of the health services provider’s stock worth $4,560,000 after purchasing an additional 263 shares during the last quarter. Virtu Financial LLC grew its position in The Cigna Group by 39.6% in the 3rd quarter. Virtu Financial LLC now owns 17,173 shares of the health services provider’s stock worth $5,949,000 after purchasing an additional 4,870 shares in the last quarter. Te Ahumairangi Investment Management Ltd increased its stake in The Cigna Group by 7.9% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 20,330 shares of the health services provider’s stock valued at $7,003,000 after buying an additional 1,490 shares during the last quarter. Finally, Pine Valley Investments Ltd Liability Co lifted its position in shares of The Cigna Group by 28.3% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 15,713 shares of the health services provider’s stock worth $5,444,000 after buying an additional 3,466 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

Insider Transactions at The Cigna Group

In related news, CEO David Cordani sold 26,527 shares of the stock in a transaction on Monday, March 3rd. The stock was 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 owns 127,767 shares in the company, valued at approximately $39,367,568.04. This trade represents a 17.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Noelle K. Eder sold 9,944 shares of The Cigna Group 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 sale, the insider now directly owns 13,406 shares of the company’s stock, valued at $4,289,920. This represents a 42.59 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,751 shares of company stock valued at $13,603,991. 0.70% of the stock is currently owned by corporate insiders.

The Cigna Group Stock Up 0.2 %

CI opened at $329.97 on Friday. The company has a 50 day moving average of $315.87 and a 200 day moving average of $310.74. 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 Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The company has a market cap of $90.30 billion, a PE ratio of 26.96, a price-to-earnings-growth ratio of 0.98 and a beta of 0.51.

The Cigna Group (NYSE:CI) last posted 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 in the prior year, the business earned $6.79 earnings per share. On average, sell-side analysts expect 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 given a dividend of $1.51 per share. The ex-dividend date was Wednesday, March 5th. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a dividend yield of 1.83%. The Cigna Group’s dividend payout ratio is currently 49.35%.

Analysts Set New Price Targets

Several research firms have recently issued reports on CI. Barclays reduced their target price on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Truist Financial upped their price objective on The Cigna Group from $375.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, April 11th. Piper Sandler reiterated an “overweight” rating and set a $348.00 target price (down from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Raymond James restated a “strong-buy” rating and set a $360.00 price target (down previously from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Finally, StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 8th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $373.56.

The Cigna Group Company 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.