AdvisorShares Investments LLC Takes Position in The Cigna Group (NYSE:CI)

AdvisorShares Investments LLC acquired a new stake in The Cigna Group (NYSE:CIFree Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 1,483 shares of the health services provider’s stock, valued at approximately $444,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Fortitude Family Office LLC acquired a new stake in shares of The Cigna Group during the 4th quarter worth about $29,000. VisionPoint Advisory Group LLC boosted its holdings in shares of The Cigna Group by 112.2% during the third quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock worth $30,000 after acquiring an additional 55 shares during the period. Pacifica Partners Inc. grew its position in shares of The Cigna Group by 73.2% in the fourth quarter. Pacifica Partners Inc. now owns 142 shares of the health services provider’s stock valued at $43,000 after purchasing an additional 60 shares during the last quarter. MeadowBrook Investment Advisors LLC bought a new position in shares of The Cigna Group during the fourth quarter worth approximately $43,000. Finally, Northwest Financial Advisors acquired a new stake in The Cigna Group during the 4th quarter worth approximately $49,000. Institutional investors own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

CI has been the subject of several recent research reports. JPMorgan Chase & Co. upped their price objective on shares of The Cigna Group from $432.00 to $435.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Oppenheimer boosted their price objective on shares of The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Cantor Fitzgerald raised their target price on The Cigna Group from $384.00 to $400.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Morgan Stanley reissued an “overweight” rating and set a $392.00 price target (up previously from $382.00) on shares of The Cigna Group in a report on Monday, March 4th. Finally, Baird R W raised The Cigna Group to a “strong-buy” rating in a research note on Thursday, May 30th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $373.87.

Check Out Our Latest Stock Report on The Cigna Group

Insider Buying and Selling

In other The Cigna Group news, CEO David Cordani sold 13,761 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $347.33, for a total value of $4,779,608.13. Following the transaction, the chief executive officer now directly owns 340,438 shares in the company, valued at $118,244,330.54. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Noelle K. Eder sold 10,700 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $348.47, for a total transaction of $3,728,629.00. Following the completion of the transaction, the insider now owns 15,824 shares in the company, valued at approximately $5,514,189.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David Cordani sold 13,761 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $347.33, for a total transaction of $4,779,608.13. Following the sale, the chief executive officer now directly owns 340,438 shares in the company, valued at $118,244,330.54. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 67,954 shares of company stock valued at $23,916,855. 0.60% of the stock is owned by insiders.

The Cigna Group Stock Up 0.0 %

Shares of CI traded up $0.13 during trading hours on Friday, hitting $338.04. The stock had a trading volume of 1,208,073 shares, compared to its average volume of 1,635,346. The firm has a 50 day simple moving average of $346.91 and a 200-day simple moving average of $326.44. The firm has a market capitalization of $96.03 billion, a P/E ratio of 27.75, a price-to-earnings-growth ratio of 1.02 and a beta of 0.53. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.71 and a quick ratio of 0.71. The Cigna Group has a 1-year low of $253.95 and a 1-year high of $365.71.

The Cigna Group (NYSE:CIGet Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share for the quarter, beating the consensus estimate of $6.17 by $0.30. The business had revenue of $57.25 billion for the quarter, compared to analysts’ expectations of $56.59 billion. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The firm’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same quarter last year, the firm earned $5.41 EPS. Sell-side analysts predict that The Cigna Group will post 28.47 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Tuesday, June 4th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend is Tuesday, June 4th. The Cigna Group’s payout ratio is 45.98%.

The Cigna Group Profile

(Free Report)

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.

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Institutional Ownership by Quarter for The Cigna Group (NYSE:CI)

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