Westover Capital Advisors LLC Has $1.16 Million Stock Position in The Cigna Group (NYSE:CI)

Westover Capital Advisors LLC lowered its position in shares of The Cigna Group (NYSE:CI) by 1.6% in the fourth quarter, HoldingsChannel reports. The firm owned 3,859 shares of the health services provider’s stock after selling 61 shares during the period. Westover Capital Advisors LLC’s holdings in The Cigna Group were worth $1,156,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Bogart Wealth LLC increased its position in The Cigna Group by 104.5% in the 3rd quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock valued at $26,000 after acquiring an additional 46 shares in the last quarter. OFI Invest Asset Management bought a new position in shares of The Cigna Group in the 3rd quarter valued at about $26,000. Fortitude Family Office LLC bought a new position in shares of The Cigna Group in the 4th quarter valued at about $29,000. VisionPoint Advisory Group LLC boosted its stake in shares of The Cigna Group by 112.2% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock valued at $30,000 after purchasing an additional 55 shares during the last quarter. Finally, Pacifica Partners Inc. boosted its stake in shares of The Cigna Group by 73.2% in the 4th 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. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Stock Down 3.7 %

CI stock traded down $13.38 during mid-day trading on Thursday, hitting $343.80. 2,056,668 shares of the company were exchanged, compared to its average volume of 1,569,972. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.67 and a current ratio of 0.67. The firm’s 50 day simple moving average is $350.78 and its 200 day simple moving average is $319.21. The Cigna Group has a 1-year low of $240.50 and a 1-year high of $365.71. The firm has a market cap of $100.51 billion, a P/E ratio of 20.53, a P/E/G ratio of 1.09 and a beta of 0.57.

The Cigna Group (NYSE:CI) last announced its earnings results on Friday, February 2nd. The health services provider reported $6.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.54 by $0.25. The company had revenue of $51.15 billion during the quarter, compared to analysts’ expectations of $48.91 billion. The Cigna Group had a net margin of 2.64% and a return on equity of 13.59%. The Cigna Group’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.96 earnings per share. On average, sell-side analysts predict that The Cigna Group will post 28.36 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.63%. The Cigna Group’s payout ratio is presently 32.20%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CI shares. Royal Bank of Canada raised shares of The Cigna Group from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $327.00 to $354.00 in a research note on Monday, February 5th. Mizuho lifted their price objective on shares of The Cigna Group from $360.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, February 5th. Barclays started coverage on shares of The Cigna Group in a research note on Wednesday, March 6th. They set an “overweight” rating and a $393.00 price objective on the stock. Sanford C. Bernstein raised shares of The Cigna Group from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $330.00 to $372.00 in a research note on Thursday, January 4th. Finally, Wells Fargo & Company lifted 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 research note on Tuesday, February 6th. Two equities 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 company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $362.14.

Insider Activity

In related news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the completion of the sale, the senior vice president now owns 2,102 shares of the company’s stock, valued at $694,668.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the completion of the sale, the senior vice president now owns 2,102 shares of the company’s stock, valued at $694,668.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eric P. Palmer sold 1,017 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $335.26, for a total transaction of $340,959.42. Following the sale, the insider now directly owns 45,564 shares of the company’s stock, valued at approximately $15,275,786.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 114,144 shares of company stock valued at $39,296,330. 0.60% of the stock is owned by company insiders.

The Cigna Group 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.