Institute for Wealth Management LLC. Purchases 170 Shares of The Cigna Group (NYSE:CI)

Institute for Wealth Management LLC. increased its position in The Cigna Group (NYSE:CI) by 3.9% during the 4th quarter, Holdings Channel reports. The firm owned 4,585 shares of the health services provider’s stock after acquiring an additional 170 shares during the quarter. Institute for Wealth Management LLC.’s holdings in The Cigna Group were worth $1,373,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Bogart Wealth LLC lifted its holdings in The Cigna Group by 104.5% during the third quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock worth $26,000 after buying an additional 46 shares during the period. OFI Invest Asset Management purchased a new stake in The Cigna Group during the third quarter worth $26,000. Fairfield Bush & CO. purchased a new stake in The Cigna Group during the second quarter worth $28,000. Fortitude Family Office LLC purchased a new stake in The Cigna Group during the fourth quarter worth $29,000. Finally, Optimum Investment Advisors lifted its holdings in The Cigna Group by 110.0% during the third quarter. Optimum Investment Advisors now owns 105 shares of the health services provider’s stock worth $30,000 after buying an additional 55 shares during the period. Institutional investors own 86.99% of the company’s stock.

Insider Buying and Selling

In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the sale, the senior vice president now directly owns 2,102 shares of the company’s stock, valued at approximately $694,668.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other The Cigna Group news, CEO David Cordani sold 31,209 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $355.17, for a total transaction of $11,084,500.53. Following the sale, the chief executive officer now directly owns 348,054 shares of the company’s stock, valued at approximately $123,618,339.18. The sale was disclosed in a legal 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 firm’s stock in a transaction dated 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 sale, the senior vice president now owns 2,102 shares in the company, valued at $694,668.96. The disclosure for this sale can be found here. Insiders sold 114,144 shares of company stock worth $39,296,330 in the last 90 days. Insiders own 0.60% of the company’s stock.

The Cigna Group Stock Performance

CI stock traded up $3.63 during midday trading on Friday, reaching $352.41. The stock had a trading volume of 904,510 shares, compared to its average volume of 1,595,639. The stock has a market cap of $103.03 billion, a PE ratio of 20.22, a P/E/G ratio of 1.06 and a beta of 0.56. 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 has a fifty day simple moving average of $348.06 and a two-hundred day simple moving average of $315.03. The Cigna Group has a 52-week low of $240.50 and a 52-week high of $365.71.

The Cigna Group (NYSE:CI) last issued its earnings results on Friday, February 2nd. The health services provider reported $6.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.54 by $0.25. The company 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 firm’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the business posted $4.96 EPS. As a group, equities research analysts anticipate that The Cigna Group will post 28.36 EPS for the current year.

The Cigna Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Wednesday, March 6th were paid a $1.40 dividend. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.23. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $5.60 dividend on an annualized basis and a yield of 1.59%. The Cigna Group’s dividend payout ratio (DPR) is 32.20%.

Wall Street Analyst Weigh In

CI has been the subject of a number of analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $384.00 target price on shares of The Cigna Group in a report on Wednesday, April 10th. Sanford C. Bernstein upgraded The Cigna Group from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $330.00 to $372.00 in a report on Thursday, January 4th. Oppenheimer reiterated an “outperform” rating and set a $360.00 price objective on shares of The Cigna Group in a report on Wednesday, January 17th. Morgan Stanley reiterated 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. Finally, StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 14th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $362.14.

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.