RWA Wealth Partners LLC Raises Stock Holdings in The Cigna Group (NYSE:CI)

RWA Wealth Partners LLC raised its holdings in shares of The Cigna Group (NYSE:CI) by 2.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,127 shares of the health services provider’s stock after purchasing an additional 67 shares during the quarter. RWA Wealth Partners LLC’s holdings in The Cigna Group were worth $863,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. TCTC Holdings LLC bought a new position in shares of The Cigna Group during the fourth quarter worth about $25,000. Collier Financial acquired a new position in shares of The Cigna Group in the 4th quarter worth approximately $32,000. ORG Wealth Partners LLC bought a new stake in shares of The Cigna Group in the 4th quarter valued at approximately $34,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of The Cigna Group during the 4th quarter valued at approximately $37,000. Finally, Heck Capital Advisors LLC bought a new position in The Cigna Group during the fourth quarter worth $53,000. 86.99% of the stock is owned by institutional investors and hedge funds.

The Cigna Group Stock Performance

Shares of CI opened at $329.33 on Tuesday. The firm has a 50-day moving average price of $305.58 and a 200 day moving average price of $313.24. 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 firm has a market capitalization of $90.13 billion, a PE ratio of 26.91, a P/E/G ratio of 0.98 and a beta of 0.53. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share 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 period in the prior year, the firm posted $6.79 EPS. On average, sell-side analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.83%. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date was Wednesday, March 5th. The Cigna Group’s payout ratio is presently 49.35%.

Analysts Set New Price Targets

Several analysts have weighed in on CI shares. Sanford C. Bernstein lowered shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 target price for the company. in a research note on Thursday, February 6th. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Oppenheimer cut their target price on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a report on Friday, January 31st. Barclays lowered their target price on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Finally, Cantor Fitzgerald raised their price target on The Cigna Group from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Thursday, March 20th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, The Cigna Group currently has a consensus rating of “Buy” and an average price target of $373.25.

Insiders Place Their Bets

In other news, CEO David Cordani sold 26,527 shares of the stock in a transaction 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 in the company, valued at $39,367,568.04. This 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 is available at this link. Also, insider Nicole S. Jones sold 4,904 shares of The Cigna Group stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $1,511,020.48. Following the transaction, the insider now owns 29,421 shares in the company, valued at $9,065,198.52. This represents a 14.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,751 shares of company stock worth $13,603,991. Company insiders own 0.70% 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.