Naviter Wealth LLC Boosts Stock Position in The Cigna Group (NYSE:CI)

Naviter Wealth LLC increased its position in shares of The Cigna Group (NYSE:CI) by 25.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,138 shares of the health services provider’s stock after acquiring an additional 644 shares during the quarter. Naviter Wealth LLC’s holdings in The Cigna Group were worth $940,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Parnassus Investments LLC acquired a new stake in The Cigna Group during the third quarter worth $731,041,000. FMR LLC increased its position in shares of The Cigna Group by 13.8% during the 3rd quarter. FMR LLC now owns 15,967,363 shares of the health services provider’s stock worth $4,567,783,000 after purchasing an additional 1,939,554 shares during the last quarter. Cerity Partners LLC raised its holdings in The Cigna Group by 1,039.4% in the 4th quarter. Cerity Partners LLC now owns 590,063 shares of the health services provider’s stock valued at $176,694,000 after buying an additional 538,274 shares during the period. Massachusetts Financial Services Co. MA lifted its position in The Cigna Group by 3.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 11,833,753 shares of the health services provider’s stock valued at $3,385,282,000 after buying an additional 345,605 shares during the last quarter. Finally, Jennison Associates LLC lifted its position in The Cigna Group by 127.3% in the fourth quarter. Jennison Associates LLC now owns 566,233 shares of the health services provider’s stock valued at $169,558,000 after buying an additional 317,081 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Insider Activity at The Cigna Group

In other 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 transaction, the chief executive officer now owns 348,054 shares in the company, valued at approximately $123,618,339.18. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of The Cigna Group stock in a transaction on Wednesday, February 7th. The shares were 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 directly owns 2,102 shares in the company, valued at approximately $694,668.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David Cordani sold 31,209 shares of the company’s stock in a transaction 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 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. Insiders have sold 114,144 shares of company stock valued at $39,296,330 over the last quarter. 0.70% of the stock is owned by insiders.

The Cigna Group Stock Performance

Shares of CI opened at $356.44 on Tuesday. The Cigna Group has a 1 year low of $240.50 and a 1 year high of $365.71. The stock has a market capitalization of $104.21 billion, a PE ratio of 20.50, a PEG ratio of 1.09 and a beta of 0.56. 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 stock has a 50-day simple moving average of $350.19 and a 200-day simple moving average of $318.58.

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

The Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders 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 annualized dividend and a dividend yield of 1.57%. The Cigna Group’s dividend payout ratio (DPR) is currently 32.20%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CI. Wells Fargo & Company boosted their price target on shares of The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 6th. Cantor Fitzgerald restated an “overweight” rating and set a $384.00 price target on shares of The Cigna Group in a research note on Wednesday, April 10th. Royal Bank of Canada upgraded The Cigna Group from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $327.00 to $354.00 in a research report on Monday, February 5th. Oppenheimer reiterated an “outperform” rating and issued a $360.00 price objective on shares of The Cigna Group in a report on Wednesday, January 17th. Finally, Barclays started 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. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, The Cigna Group presently has a consensus rating of “Buy” and an average price target of $362.14.

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.