Leo Wealth LLC Purchases Shares of 2,073 The Cigna Group (NYSE:CI)

Leo Wealth LLC purchased a new stake in The Cigna Group (NYSE:CI) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,073 shares of the health services provider’s stock, valued at approximately $625,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CI. Norges Bank purchased a new stake in shares of The Cigna Group during the 4th quarter worth about $1,006,348,000. Cerity Partners LLC grew its holdings in shares of The Cigna Group by 1,039.4% during the 4th quarter. Cerity Partners LLC now owns 590,063 shares of the health services provider’s stock worth $176,694,000 after purchasing an additional 538,274 shares during the period. Jennison Associates LLC grew its holdings in shares of The Cigna Group by 127.3% during the 4th quarter. Jennison Associates LLC now owns 566,233 shares of the health services provider’s stock worth $169,558,000 after purchasing an additional 317,081 shares during the period. International Assets Investment Management LLC grew its holdings in shares of The Cigna Group by 21,324.4% during the 4th quarter. International Assets Investment Management LLC now owns 285,801 shares of the health services provider’s stock worth $85,583,000 after purchasing an additional 284,467 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in shares of The Cigna Group by 153.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 386,226 shares of the health services provider’s stock worth $115,655,000 after purchasing an additional 233,945 shares during the period. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Analyst Upgrades and Downgrades

CI has been the subject of a number of research reports. Barclays initiated coverage on The Cigna Group in a report on Wednesday, March 6th. They set an “overweight” rating and a $393.00 target price for the company. Robert W. Baird initiated coverage on The Cigna Group in a research report on Thursday, May 30th. They set an “outperform” rating and a $388.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a research report on Wednesday, June 12th. Oppenheimer boosted their price target on The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Finally, Baird R W raised The Cigna Group to a “strong-buy” rating in a research report on Thursday, May 30th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, The Cigna Group has a consensus 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 business’s 50 day moving average is $343.82 and its two-hundred day moving average is $329.38. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $365.71. The firm has a market cap of $94.85 billion, a price-to-earnings ratio of 27.41, a PEG ratio of 1.02 and a beta of 0.54. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.75.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results 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 business had revenue of $57.25 billion for the quarter, compared to analyst estimates of $56.59 billion. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The business’s revenue was up 23.2% compared to the same quarter last year. During the same period in the prior year, the company posted $5.41 EPS. Analysts forecast that The Cigna Group will post 28.47 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

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

Insider Activity at The Cigna Group

In other news, insider Noelle K. Eder sold 10,700 shares of the company’s stock in a transaction on 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 directly owns 15,824 shares of the company’s stock, valued at $5,514,189.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO David Cordani sold 31,209 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $355.17, for a total value of $11,084,500.53. Following the completion of the sale, the chief executive officer now directly owns 348,054 shares of the company’s stock, valued at approximately $123,618,339.18. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Noelle K. Eder sold 10,700 shares of the stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $348.47, for a total value of $3,728,629.00. Following the completion of the sale, the insider now directly owns 15,824 shares of the company’s stock, 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 valued at $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.