Addison Advisors LLC Buys 588 Shares of The Cigna Group (NYSE:CI)

Addison Advisors LLC increased its stake in The Cigna Group (NYSE:CI) by 223.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 851 shares of the health services provider’s stock after buying an additional 588 shares during the period. Addison Advisors LLC’s holdings in The Cigna Group were worth $255,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CI. Strategic Blueprint LLC raised its stake in The Cigna Group by 4.8% in the third quarter. Strategic Blueprint LLC now owns 784 shares of the health services provider’s stock worth $224,000 after buying an additional 36 shares in the last quarter. Aaron Wealth Advisors LLC bought a new position in The Cigna Group in the third quarter worth about $224,000. Simplicity Solutions LLC grew its holdings in The Cigna Group by 17.4% in the third quarter. Simplicity Solutions LLC now owns 8,030 shares of the health services provider’s stock worth $2,297,000 after purchasing an additional 1,189 shares during the period. Ballentine Partners LLC grew its holdings in The Cigna Group by 6.8% in the third quarter. Ballentine Partners LLC now owns 5,210 shares of the health services provider’s stock worth $1,490,000 after purchasing an additional 333 shares during the period. Finally, Ropes Wealth Advisors LLC grew its holdings in The Cigna Group by 31.5% in the third quarter. Ropes Wealth Advisors LLC now owns 1,557 shares of the health services provider’s stock worth $445,000 after purchasing an additional 373 shares during the period. 86.99% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO David Cordani sold 31,209 shares of The Cigna Group 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 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 filing with the SEC, which can be accessed through this link. In other The Cigna Group news, CEO David Cordani sold 31,209 shares of The Cigna Group stock in a transaction on Monday, March 25th. The shares were sold at an average price of $355.17, for a total value of $11,084,500.53. Following the sale, the chief executive officer now directly owns 348,054 shares in the company, valued at approximately $123,618,339.18. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Eric P. Palmer sold 1,017 shares of The Cigna Group stock in a transaction on Friday, February 9th. The shares were sold at an average price of $335.26, for a total transaction of $340,959.42. Following the completion of the sale, the insider now owns 45,564 shares in the company, valued at $15,275,786.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 114,144 shares of company stock worth $39,296,330. Company insiders own 0.60% of the company’s stock.

The Cigna Group Stock Performance

The Cigna Group stock traded down $0.04 during midday trading on Friday, reaching $354.47. 830,527 shares of the company traded hands, compared to its average volume of 1,260,787. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.67. The Cigna Group has a 12 month low of $240.50 and a 12 month high of $365.71. The firm has a market capitalization of $103.63 billion, a price-to-earnings ratio of 20.38, a price-to-earnings-growth ratio of 1.09 and a beta of 0.56. The business has a 50 day moving average of $349.88 and a two-hundred day moving average of $317.80.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Friday, February 2nd. The health services provider reported $6.79 earnings per share for the quarter, topping 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 business had revenue of $51.15 billion for the quarter, compared to the consensus estimate of $48.91 billion. During the same period last year, the firm earned $4.96 earnings per share. The company’s quarterly revenue was up 11.8% on a year-over-year basis. As a group, research analysts predict that The Cigna Group will post 28.36 earnings per share for the current year.

The Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th will be given a $1.40 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $5.60 annualized dividend and a yield of 1.58%. The Cigna Group’s payout ratio is presently 32.20%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CI. Cantor Fitzgerald restated an “overweight” rating and issued a $384.00 price objective on shares of The Cigna Group in a report on Wednesday, April 10th. Morgan Stanley restated an “overweight” rating and issued a $392.00 price objective (up previously from $382.00) on shares of The Cigna Group in a report on Monday, March 4th. Oppenheimer restated an “outperform” rating and issued a $360.00 price objective on shares of The Cigna Group in a report on Wednesday, January 17th. Wells Fargo & Company upped their price objective on shares of The Cigna Group from $334.00 to $348.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. Finally, Barclays started coverage on shares of The Cigna Group in a report on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $362.14.

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.