HighPoint Advisor Group LLC Invests $1.72 Million in The Cigna Group (NYSE:CI)

HighPoint Advisor Group LLC bought a new position in shares of The Cigna Group (NYSE:CI) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 5,755 shares of the health services provider’s stock, valued at approximately $1,723,000.

Several other hedge funds have also modified their holdings of the company. Leo Wealth LLC purchased a new stake in shares of The Cigna Group during the 4th quarter worth about $625,000. MONECO Advisors LLC purchased a new stake in shares of The Cigna Group during the 4th quarter worth about $574,000. Sivia Capital Partners LLC acquired a new position in shares of The Cigna Group during the 4th quarter worth about $377,000. Cove Private Wealth LLC acquired a new position in shares of The Cigna Group during the 4th quarter worth about $434,000. Finally, Trust Co. of Vermont raised its position in shares of The Cigna Group by 3.1% during the 4th quarter. Trust Co. of Vermont now owns 16,886 shares of the health services provider’s stock worth $5,057,000 after purchasing an additional 509 shares during the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Stock Up 0.3 %

Shares of NYSE CI opened at $334.81 on Wednesday. The company has a 50 day simple moving average of $343.36 and a 200-day simple moving average of $329.85. The company has a market capitalization of $95.11 billion, a P/E ratio of 27.49, a P/E/G ratio of 1.02 and a beta of 0.54. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.71 and a quick ratio of 0.71. 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 results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.17 by $0.30. The business had revenue of $57.25 billion during the quarter, compared to the consensus estimate of $56.59 billion. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The business’s revenue was up 23.2% compared to the same quarter last year. During the same quarter last year, the firm earned $5.41 EPS. On average, equities research 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 disclosed 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. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.67%. The Cigna Group’s payout ratio is currently 45.98%.

Insider Buying and Selling

In related news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $348.71, for a total transaction of $2,073,429.66. Following the completion of the transaction, the senior vice president now owns 2,595 shares of the company’s stock, valued at approximately $904,902.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $348.71, for a total value of $2,073,429.66. Following the completion of the transaction, the senior vice president now owns 2,595 shares of the company’s stock, valued at approximately $904,902.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David Cordani sold 31,209 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $355.17, for a total transaction of $11,084,500.53. Following the completion of the transaction, the chief executive officer now directly owns 348,054 shares of the company’s stock, valued at approximately $123,618,339.18. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,193 shares of company stock valued at $19,475,326. Company insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CI shares. Robert W. Baird started coverage on shares of The Cigna Group in a research report on Thursday, May 30th. They set an “outperform” rating and a $388.00 price target for the company. Oppenheimer upped their price target on shares of The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. JPMorgan Chase & Co. upped their price target on shares of The Cigna Group from $432.00 to $435.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Baird R W upgraded shares of The Cigna Group to a “strong-buy” rating in a research report on Thursday, May 30th. Finally, StockNews.com downgraded shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 12th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $373.87.

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.