Allen Mooney & Barnes Investment Advisors LLC Makes New Investment in The Cigna Group (NYSE:CI)

Allen Mooney & Barnes Investment Advisors LLC purchased a new position in The Cigna Group (NYSE:CI) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 587 shares of the health services provider’s stock, valued at approximately $207,000.

Several other large investors also recently modified their holdings of CI. Somerset Trust Co grew its holdings in shares of The Cigna Group by 1.6% during the first quarter. Somerset Trust Co now owns 2,209 shares of the health services provider’s stock worth $802,000 after buying an additional 34 shares in the last quarter. Relyea Zuckerberg Hanson LLC lifted its position in shares of The Cigna Group by 3.2% in the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 1,113 shares of the health services provider’s stock valued at $333,000 after buying an additional 35 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its position in shares of The Cigna Group by 1.7% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 2,132 shares of the health services provider’s stock valued at $638,000 after buying an additional 36 shares during the last quarter. Legacy Financial Advisors Inc. lifted its position in shares of The Cigna Group by 3.1% in the fourth quarter. Legacy Financial Advisors Inc. now owns 1,250 shares of the health services provider’s stock valued at $374,000 after buying an additional 37 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its position in shares of The Cigna Group by 0.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 10,520 shares of the health services provider’s stock valued at $3,150,000 after buying an additional 38 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CI shares. Robert W. Baird initiated coverage on The Cigna Group in a research note on Thursday, May 30th. They issued an “outperform” rating and a $388.00 price target on the stock. Barclays initiated coverage on The Cigna Group in a report on Wednesday, March 6th. They set an “overweight” rating and a $393.00 price objective for the company. StockNews.com lowered The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 12th. Morgan Stanley reiterated an “overweight” rating and issued a $392.00 price objective (up previously from $382.00) on shares of The Cigna Group in a research note on Monday, March 4th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a research note on Wednesday, June 12th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $374.50.

The Cigna Group Stock Performance

Shares of NYSE:CI opened at $342.97 on Tuesday. The firm has a market cap of $97.43 billion, a PE ratio of 28.16, a price-to-earnings-growth ratio of 1.04 and a beta of 0.54. The firm’s 50 day simple moving average is $342.28 and its 200-day simple moving average is $332.10. The Cigna Group has a one year low of $253.95 and a one year high of $365.71. 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 Cigna Group (NYSE:CI) last issued 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 analyst estimates 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 last year, the company posted $5.41 earnings per share. As a group, equities analysts predict that The Cigna Group will post 28.47 EPS for the current year.

The Cigna Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th were paid a $1.40 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $5.60 annualized dividend and a yield of 1.63%. The Cigna Group’s dividend payout ratio (DPR) is 45.98%.

Insider Transactions at The Cigna Group

In other news, insider Noelle K. Eder sold 10,700 shares of The Cigna Group stock in a transaction on Tuesday, May 14th. The shares were 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 in the company, valued at $5,514,189.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of The Cigna Group stock in a transaction 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 $904,902.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 sale, the insider now directly owns 15,824 shares of the company’s stock, valued at approximately $5,514,189.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,193 shares of company stock worth $6,321,404. Company insiders own 0.70% of the company’s stock.

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.