ICA Group Wealth Management LLC Acquires Shares of 297 The Cigna Group (NYSE:CI)

ICA Group Wealth Management LLC bought a new stake in The Cigna Group (NYSE:CI) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 297 shares of the health services provider’s stock, valued at approximately $89,000.

Other hedge funds have also modified their holdings of the company. Fortitude Family Office LLC acquired a new stake in shares of The Cigna Group in the fourth quarter valued at about $29,000. Raleigh Capital Management Inc. increased its position in The Cigna Group by 69.5% during the fourth quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock worth $30,000 after purchasing an additional 41 shares during the last quarter. VisionPoint Advisory Group LLC increased its position in The Cigna Group by 112.2% during the third quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock worth $30,000 after purchasing an additional 55 shares during the last quarter. Pineridge Advisors LLC acquired a new stake in The Cigna Group during the fourth quarter worth about $37,000. Finally, Pacifica Partners Inc. increased its position in shares of The Cigna Group by 73.2% during the fourth quarter. Pacifica Partners Inc. now owns 142 shares of the health services provider’s stock valued at $43,000 after acquiring an additional 60 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CI shares. Oppenheimer lifted their price target on shares of The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Baird R W raised shares of The Cigna Group to a “strong-buy” rating in a research note on Thursday, May 30th. Robert W. Baird initiated coverage on shares of The Cigna Group in a research note on Thursday, May 30th. They issued an “outperform” rating and a $388.00 price target for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a research note on Wednesday, June 12th. Finally, StockNews.com downgraded shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 12th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $373.87.

The Cigna Group Stock Performance

Shares of CI opened at $333.90 on Tuesday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market capitalization of $94.85 billion, a P/E ratio of 27.41, a P/E/G ratio of 1.02 and a beta of 0.54. The company’s fifty day moving average is $343.82 and its two-hundred day moving average is $329.38. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $365.71.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, May 2nd. The health services provider reported $6.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.17 by $0.30. The company had revenue of $57.25 billion for the quarter, compared to analysts’ expectations of $56.59 billion. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The Cigna Group’s revenue was up 23.2% compared to the same quarter last year. During the same period in the previous year, the company posted $5.41 EPS. On average, sell-side analysts predict that The Cigna Group will post 28.47 earnings per share for the current year.

The Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.68%. The Cigna Group’s payout ratio is currently 45.98%.

Insiders Place Their Bets

In other The Cigna Group news, CEO David Cordani sold 6,338 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $355.11, for a total transaction of $2,250,687.18. Following the sale, the chief executive officer now directly owns 348,054 shares in the company, valued at approximately $123,597,455.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO David Cordani sold 6,338 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $355.11, for a total value of $2,250,687.18. Following the sale, the chief executive officer now directly owns 348,054 shares in the company, valued at approximately $123,597,455.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Noelle K. Eder sold 10,700 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $348.47, for a total transaction of $3,728,629.00. Following the completion of the sale, the insider now owns 15,824 shares in the company, valued at $5,514,189.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,193 shares of company stock worth $19,475,326. Corporate insiders own 0.70% of the company’s stock.

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.