The Cigna Group (NYSE:CI) Shares Purchased by Corient Private Wealth LLC

Corient Private Wealth LLC raised its stake in The Cigna Group (NYSE:CI) by 2.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 112,051 shares of the health services provider’s stock after purchasing an additional 2,583 shares during the quarter. Corient Private Wealth LLC’s holdings in The Cigna Group were worth $30,943,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Collier Financial acquired a new position in shares of The Cigna Group in the 4th quarter worth approximately $32,000. ORG Wealth Partners LLC acquired a new position in The Cigna Group during the fourth quarter worth $34,000. Prospera Private Wealth LLC acquired a new position in The Cigna Group during the third quarter worth $37,000. Compagnie Lombard Odier SCmA purchased a new position in shares of The Cigna Group during the fourth quarter worth $37,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of The Cigna Group in the fourth quarter valued at $53,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on CI. Truist Financial lowered their target price on The Cigna Group from $390.00 to $375.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. Royal Bank of Canada set a $355.00 price objective on shares of The Cigna Group in a report on Friday, January 31st. Wells Fargo & Company reduced their target price on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Raymond James restated a “strong-buy” rating and issued a $360.00 price target (down previously from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Finally, StockNews.com upgraded The Cigna Group from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, The Cigna Group has an average rating of “Buy” and an average price target of $372.31.

The Cigna Group Stock Up 1.4 %

CI stock opened at $317.23 on Tuesday. The company’s 50 day moving average is $297.55 and its two-hundred day moving average is $315.92. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The stock has a market cap of $86.82 billion, a P/E ratio of 25.92, a PEG ratio of 0.98 and a beta of 0.53.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same quarter last year, the business earned $6.79 EPS. Research analysts expect that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date is Wednesday, March 5th. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio (DPR) is currently 49.35%.

Insiders Place Their Bets

In related news, insider Nicole S. Jones sold 4,904 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the transaction, the insider now owns 29,421 shares of the company’s stock, valued at $9,065,198.52. This trade represents a 14.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Elder Granger sold 2,376 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $310.35, for a total value of $737,391.60. Following the sale, the director now directly owns 5,471 shares of the company’s stock, valued at approximately $1,697,924.85. This represents a 30.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,751 shares of company stock valued at $13,603,991 over the last quarter. Company insiders own 0.60% of the company’s stock.

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.