Orion Portfolio Solutions LLC Buys 5,258 Shares of The Cigna Group (NYSE:CI)

Orion Portfolio Solutions LLC increased its position in shares of The Cigna Group (NYSE:CI) by 13.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 44,991 shares of the health services provider’s stock after buying an additional 5,258 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in The Cigna Group were worth $12,424,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CI. Sterling Financial Group Inc. acquired a new stake in shares of The Cigna Group during the 4th quarter valued at about $4,367,000. Principal Financial Group Inc. boosted its holdings in The Cigna Group by 3.6% during the third quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider’s stock valued at $112,216,000 after purchasing an additional 11,228 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. boosted its holdings in The Cigna Group by 1.1% during the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider’s stock valued at $20,942,000 after purchasing an additional 858 shares in the last quarter. Valley Wealth Managers Inc. grew its stake in shares of The Cigna Group by 2.8% in the 4th quarter. Valley Wealth Managers Inc. now owns 56,933 shares of the health services provider’s stock valued at $15,721,000 after purchasing an additional 1,548 shares during the period. Finally, Pine Valley Investments Ltd Liability Co lifted its position in shares of The Cigna Group by 28.3% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 15,713 shares of the health services provider’s stock worth $5,444,000 after buying an additional 3,466 shares during the period. 86.99% of the stock is currently owned by institutional investors.

The Cigna Group Stock Up 0.1 %

Shares of NYSE:CI opened at $324.97 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72. The stock has a market cap of $88.94 billion, a price-to-earnings ratio of 26.55, a P/E/G ratio of 0.98 and a beta of 0.53. The company has a 50 day moving average of $304.67 and a 200-day moving average of $314.08. The Cigna Group has a one year low of $262.03 and a one year high of $370.83.

The Cigna Group (NYSE:CI) last issued its 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 net margin of 1.39% and a return on equity of 18.61%. During the same quarter in the prior year, the firm posted $6.79 EPS. On average, sell-side analysts forecast that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were issued a dividend of $1.51 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a yield of 1.86%. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio (DPR) is 49.35%.

Insider Activity

In other news, Director Elder Granger sold 2,376 shares of the firm’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $310.35, for a total transaction of $737,391.60. Following the sale, the director now owns 5,471 shares of the company’s stock, valued at $1,697,924.85. This trade represents a 30.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David Cordani sold 26,527 shares of The Cigna Group stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $8,173,499.24. Following the transaction, the chief executive officer now owns 127,767 shares in the company, valued at $39,367,568.04. This trade represents a 17.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,751 shares of company stock valued at $13,603,991 in the last ninety days. 0.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CI shares. Sanford C. Bernstein cut The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price target on the stock. in a research report on Thursday, February 6th. Wells Fargo & Company lowered 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. Morgan Stanley cut their price target on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Raymond James reaffirmed a “strong-buy” rating and set a $360.00 price objective (down from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Finally, StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $373.25.

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.