Florida Financial Advisors LLC Raises Holdings in The Cigna Group (NYSE:CI)

Florida Financial Advisors LLC increased its holdings in The Cigna Group (NYSE:CI) by 7.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 920 shares of the health services provider’s stock after buying an additional 60 shares during the period. Florida Financial Advisors LLC’s holdings in The Cigna Group were worth $254,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of CI. TCTC Holdings LLC purchased a new stake in shares of The Cigna Group during the fourth quarter worth about $25,000. Collier Financial acquired a new stake in 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 4th quarter valued at approximately $34,000. Compagnie Lombard Odier SCmA purchased a new position in shares of The Cigna Group in the fourth quarter worth $37,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of The Cigna Group during the fourth quarter worth $53,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Down 1.2 %

CI opened at $316.64 on Wednesday. The company has a market cap of $86.66 billion, a PE ratio of 25.87, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The company has a 50-day moving average price of $302.25 and a 200 day moving average price of $314.19. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70.

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

The Cigna Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were paid a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.91%. The ex-dividend date was Wednesday, March 5th. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s payout ratio is 49.35%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Raymond James restated a “strong-buy” rating and issued a $360.00 target price (down previously from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Cantor Fitzgerald lifted their target price on The Cigna Group from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Thursday, March 20th. Barclays cut their price target on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Morgan Stanley decreased their price objective on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Finally, Royal Bank of Canada set a $355.00 price objective on shares of The Cigna Group in a research note on Friday, January 31st. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, The Cigna Group currently has an average rating of “Buy” and an average target price of $373.25.

Insider Activity

In related news, CEO David Cordani sold 26,527 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $8,173,499.24. Following the completion of the sale, the chief executive officer now owns 127,767 shares of the company’s stock, valued at approximately $39,367,568.04. This trade represents a 17.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Elder Granger sold 2,376 shares of the business’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $310.35, for a total value of $737,391.60. Following the transaction, the director now directly owns 5,471 shares in the company, valued at $1,697,924.85. This trade represents a 30.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,751 shares of company stock worth $13,603,991 over the last three months. 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.