The Cigna Group (NYSE:CI) Stock Holdings Trimmed by Gray Wealth Management Inc.

Gray Wealth Management Inc. lessened its position in The Cigna Group (NYSE:CI) by 19.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 710 shares of the health services provider’s stock after selling 175 shares during the period. Gray Wealth Management Inc.’s holdings in The Cigna Group were worth $213,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bogart Wealth LLC grew its holdings in shares of The Cigna Group by 104.5% during the third quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock valued at $26,000 after buying an additional 46 shares in the last quarter. OFI Invest Asset Management acquired a new position in shares of The Cigna Group during the 3rd quarter valued at about $26,000. Fortitude Family Office LLC acquired a new position in shares of The Cigna Group during the 4th quarter valued at about $29,000. Fairfield Bush & CO. acquired a new position in shares of The Cigna Group during the 2nd quarter valued at about $28,000. Finally, VisionPoint Advisory Group LLC boosted its stake in The Cigna Group by 112.2% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock valued at $30,000 after purchasing an additional 55 shares during the period. Institutional investors own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CI. Sanford C. Bernstein upgraded The Cigna Group from a “market perform” rating to an “outperform” rating and increased their target price for the company from $330.00 to $372.00 in a research note on Thursday, January 4th. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 14th. Wells Fargo & Company raised their price target on The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. Morgan Stanley reaffirmed an “overweight” rating and set a $392.00 price target (up from $382.00) on shares of The Cigna Group in a report on Monday, March 4th. Finally, Barclays began coverage on The Cigna Group in a research note on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 target price for the company. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $362.14.

The Cigna Group Trading Up 0.5 %

CI stock traded up $1.85 during midday trading on Friday, hitting $350.63. 242,933 shares of the company’s stock were exchanged, compared to its average volume of 1,587,770. The company has a market cap of $102.51 billion, a PE ratio of 20.06, a price-to-earnings-growth ratio of 1.06 and a beta of 0.56. The stock’s fifty day moving average price is $348.06 and its 200-day moving average price is $315.03. The Cigna Group has a one year low of $240.50 and a one year high of $365.71. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.67 and a current ratio of 0.67.

The Cigna Group (NYSE:CI) last released its earnings results on Friday, February 2nd. The health services provider reported $6.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.54 by $0.25. The business had revenue of $51.15 billion for the quarter, compared to the consensus estimate of $48.91 billion. The Cigna Group had a return on equity of 13.59% and a net margin of 2.64%. The Cigna Group’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.96 earnings per share. Research analysts predict that The Cigna Group will post 28.36 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th were paid a dividend of $1.40 per share. The ex-dividend date was Tuesday, March 5th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.60%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.23. The Cigna Group’s dividend payout ratio (DPR) is 32.20%.

Insider Transactions at The Cigna Group

In related news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the sale, the senior vice president now owns 2,102 shares of the company’s stock, valued at $694,668.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO David Cordani sold 38,065 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $335.22, for a total value of $12,760,149.30. Following the completion of the sale, the chief executive officer now directly owns 329,321 shares in the company, valued at approximately $110,394,985.62. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of The Cigna Group stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total value of $1,608,446.16. Following the transaction, the senior vice president now owns 2,102 shares of the company’s stock, valued at approximately $694,668.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 114,144 shares of company stock worth $39,296,330. Company insiders own 0.60% 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.