Successful Portfolios LLC Buys Shares of 727 The Cigna Group (NYSE:CI)

Successful Portfolios LLC purchased a new stake in The Cigna Group (NYSE:CI) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 727 shares of the health services provider’s stock, valued at approximately $218,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of CI. Moneta Group Investment Advisors LLC increased its holdings in The Cigna Group by 154,255.6% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 11,954,841 shares of the health services provider’s stock worth $3,961,117,000 after buying an additional 11,947,096 shares during the last quarter. Norges Bank bought a new stake in The Cigna Group during the fourth quarter worth approximately $963,542,000. Parnassus Investments LLC bought a new stake in shares of The Cigna Group in the third quarter valued at approximately $731,041,000. FMR LLC boosted its position in shares of The Cigna Group by 13.8% in the third quarter. FMR LLC now owns 15,967,363 shares of the health services provider’s stock valued at $4,567,783,000 after acquiring an additional 1,939,554 shares during the period. Finally, Point72 Asset Management L.P. lifted its position in The Cigna Group by 13,563.1% in the second quarter. Point72 Asset Management L.P. now owns 596,121 shares of the health services provider’s stock worth $167,272,000 after purchasing an additional 591,758 shares during the period. 86.99% of the stock is owned by institutional investors and hedge funds.

The Cigna Group Price Performance

NYSE CI traded down $0.15 during trading hours on Thursday, reaching $363.19. The company’s stock had a trading volume of 1,161,009 shares, compared to its average volume of 1,658,810. The firm has a market capitalization of $106.18 billion, a price-to-earnings ratio of 20.95, a P/E/G ratio of 1.10 and a beta of 0.55. The Cigna Group has a 1-year low of $240.50 and a 1-year high of $365.71. 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 company’s 50-day moving average is $333.26 and its two-hundred day moving average is $307.47.

The Cigna Group (NYSE:CI) last posted its quarterly 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 business had revenue of $51.15 billion during the quarter, compared to analyst estimates of $48.91 billion. The Cigna Group had a return on equity of 13.59% and a net margin of 2.64%. The business’s revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the business earned $4.96 earnings per share. On average, equities analysts predict that The Cigna Group will post 28.36 EPS for the current year.

The Cigna Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th were paid a $1.40 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This is a boost from The Cigna Group’s previous quarterly dividend of $1.23. This represents a $5.60 dividend on an annualized basis and a yield of 1.54%. The Cigna Group’s dividend payout ratio (DPR) is currently 32.20%.

Analysts Set New Price Targets

Several research firms have recently weighed in on CI. Royal Bank of Canada upgraded The Cigna Group from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $327.00 to $354.00 in a report on Monday, February 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $372.00 price target on shares of The Cigna Group in a research report on Monday, March 4th. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 14th. Mizuho boosted their target price on The Cigna Group from $360.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, February 5th. Finally, Oppenheimer reissued an “outperform” rating and set a $360.00 target price on shares of The Cigna Group in a report on Wednesday, January 17th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, The Cigna Group has an average rating of “Buy” and an average price target of $361.29.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total value of $1,608,446.16. Following the sale, the senior vice president now directly owns 2,102 shares in the company, valued at $694,668.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other The Cigna Group news, insider Eric P. Palmer sold 1,017 shares of The Cigna Group stock in a transaction that occurred 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of The Cigna Group stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total value of $1,608,446.16. Following the completion of the sale, the senior vice president now directly owns 2,102 shares in the company, valued at approximately $694,668.96. The disclosure for this sale can be found here. Insiders have sold a total of 114,144 shares of company stock worth $39,296,330 over the last ninety days. Corporate insiders own 0.60% of the company’s stock.

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.