Hennion & Walsh Asset Management Inc. Raises Stock Holdings in The Cigna Group (NYSE:CI)

Hennion & Walsh Asset Management Inc. raised its stake in shares of The Cigna Group (NYSE:CI) by 18.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,301 shares of the health services provider’s stock after acquiring an additional 206 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in The Cigna Group were worth $473,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. OneAscent Financial Services LLC boosted its stake in shares of The Cigna Group by 30.0% in the first quarter. OneAscent Financial Services LLC now owns 1,504 shares of the health services provider’s stock valued at $546,000 after purchasing an additional 347 shares during the period. OneAscent Wealth Management LLC grew its stake in shares of The Cigna Group by 55.4% in the first quarter. OneAscent Wealth Management LLC now owns 1,038 shares of the health services provider’s stock worth $377,000 after acquiring an additional 370 shares in the last quarter. Stillwater Capital Advisors LLC purchased a new stake in shares of The Cigna Group during the first quarter worth $211,000. Register Financial Advisors LLC raised its stake in shares of The Cigna Group by 1,600.0% in the first quarter. Register Financial Advisors LLC now owns 340 shares of the health services provider’s stock valued at $123,000 after acquiring an additional 320 shares in the last quarter. Finally, Capital Asset Advisory Services LLC lifted its position in shares of The Cigna Group by 2.3% during the 1st quarter. Capital Asset Advisory Services LLC now owns 1,280 shares of the health services provider’s stock worth $464,000 after purchasing an additional 29 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the business’s stock in a transaction dated 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 sale, 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 legal filing with the SEC, which can be accessed through this link. In related news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of The Cigna Group stock in a transaction on Tuesday, May 14th. The stock was 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 directly owns 2,595 shares of the company’s stock, valued at $904,902.45. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Noelle K. Eder sold 10,700 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were 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 in the company, valued at approximately $5,514,189.28. The disclosure for this sale can be found here. Insiders sold 22,988 shares of company stock worth $7,975,726 in the last 90 days. 0.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CI shares. Piper Sandler initiated coverage on The Cigna Group in a research note on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 price target on the stock. JPMorgan Chase & Co. increased their price target on shares of The Cigna Group from $432.00 to $435.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a research report on Wednesday, June 12th. Barclays started coverage on shares of The Cigna Group in a research report on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 price target for the company. Finally, Baird R W upgraded The Cigna Group to a “strong-buy” rating in a research report on Thursday, May 30th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $376.20.

The Cigna Group Trading Down 0.1 %

NYSE CI opened at $325.91 on Wednesday. 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 stock has a market capitalization of $92.58 billion, a P/E ratio of 26.76, a P/E/G ratio of 1.01 and a beta of 0.52. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $365.71. The firm has a 50-day moving average price of $340.69 and a 200 day moving average price of $333.60.

The Cigna Group (NYSE:CI) last issued its 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 Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The business had revenue of $57.25 billion during the quarter, compared to the consensus estimate of $56.59 billion. During the same period in the prior year, the business posted $5.41 EPS. The company’s revenue for the quarter was up 23.2% on a year-over-year basis. Equities research analysts expect that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th were paid a dividend of $1.40 per share. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.72%. The Cigna Group’s dividend payout ratio (DPR) is presently 45.98%.

The Cigna Group 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.