The Cigna Group (NYSE:CI) Stake Lifted by Apollon Wealth Management LLC

Apollon Wealth Management LLC lifted its holdings in The Cigna Group (NYSE:CI) by 49.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,668 shares of the health services provider’s stock after purchasing an additional 2,863 shares during the quarter. Apollon Wealth Management LLC’s holdings in The Cigna Group were worth $2,596,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of CI. Bogart Wealth LLC grew its stake in shares of The Cigna Group by 104.5% in the third quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock worth $26,000 after purchasing an additional 46 shares in the last quarter. OFI Invest Asset Management bought a new position in shares of The Cigna Group in the third quarter worth $26,000. Fortitude Family Office LLC bought a new position in shares of The Cigna Group in the fourth quarter worth $29,000. VisionPoint Advisory Group LLC grew its stake in shares of The Cigna Group by 112.2% in the third quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock worth $30,000 after purchasing an additional 55 shares in the last quarter. Finally, Pacifica Partners Inc. grew its stake 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 worth $43,000 after purchasing an additional 60 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Performance

CI traded up $4.29 during midday trading on Tuesday, reaching $346.70. The company’s stock had a trading volume of 1,548,683 shares, compared to its average volume of 1,590,111. The stock has a market cap of $98.49 billion, a P/E ratio of 28.11, a PEG ratio of 1.04 and a beta of 0.57. The company has a fifty day simple moving average of $350.77 and a 200 day simple moving average of $319.93. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.75. The Cigna Group has a twelve month low of $240.50 and a twelve month high of $365.71.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, topping analysts’ consensus estimates of $6.17 by $0.30. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The company had revenue of $57.25 billion during the quarter, compared to the consensus estimate of $56.59 billion. During the same quarter last year, the company earned $5.41 EPS. The company’s quarterly revenue was up 23.2% on a year-over-year basis. Research analysts expect that The Cigna Group will post 28.45 earnings per share for the current year.

The Cigna Group Announces Dividend

The company also recently disclosed 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 of this dividend is Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.62%. The Cigna Group’s dividend payout ratio is currently 45.98%.

Analyst Ratings Changes

CI has been the subject of several recent analyst reports. Cantor Fitzgerald increased their price target on The Cigna Group from $384.00 to $400.00 and gave the stock an “overweight” rating in a research note on Friday. Barclays began coverage on The Cigna Group in a report on Wednesday, March 6th. They set an “overweight” rating and a $393.00 price objective on the stock. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 14th. Deutsche Bank Aktiengesellschaft raised The Cigna Group from a “hold” rating to a “buy” rating and increased their price objective for the company from $355.00 to $370.00 in a report on Thursday, February 1st. Finally, Morgan Stanley reissued an “overweight” rating and set a $392.00 price objective (up previously from $382.00) on shares of The Cigna Group in a report on Monday, March 4th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, The Cigna Group presently has a consensus rating of “Buy” and a consensus target price of $366.14.

Insiders Place Their Bets

In related news, insider Eric P. Palmer sold 1,017 shares of the business’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $335.26, for a total value of $340,959.42. Following the sale, the insider now owns 45,564 shares of the company’s stock, valued at approximately $15,275,786.64. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Eric P. Palmer sold 1,017 shares of the business’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $335.26, for a total value of $340,959.42. Following the sale, the insider now owns 45,564 shares of the company’s stock, valued at approximately $15,275,786.64. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David Cordani sold 31,209 shares of the business’s 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 completion of the sale, the chief executive officer now directly owns 348,054 shares in the company, valued at approximately $123,618,339.18. The disclosure for this sale can be found here. In the last quarter, insiders sold 114,144 shares of company stock worth $39,296,330. 0.70% of the stock is currently owned by company insiders.

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.