The Cigna Group (NYSE:CI) Shares Purchased by Global Wealth Management Investment Advisory Inc.

Global Wealth Management Investment Advisory Inc. lifted its stake in The Cigna Group (NYSE:CI) by 8.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 6,250 shares of the health services provider’s stock after acquiring an additional 467 shares during the quarter. Global Wealth Management Investment Advisory Inc.’s holdings in The Cigna Group were worth $1,872,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Roman Butler Fullerton & Co. increased its stake in The Cigna Group by 61.4% during the 4th quarter. Roman Butler Fullerton & Co. now owns 9,307 shares of the health services provider’s stock worth $2,772,000 after buying an additional 3,539 shares during the period. Ellsworth Advisors LLC purchased a new stake in The Cigna Group during the 4th quarter worth approximately $4,377,000. Sapient Capital LLC purchased a new stake in The Cigna Group during the 4th quarter worth approximately $2,811,000. Allspring Global Investments Holdings LLC increased its stake in The Cigna Group by 29.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 293,438 shares of the health services provider’s stock worth $87,870,000 after buying an additional 66,891 shares during the period. Finally, Accurate Wealth Management LLC purchased a new stake in The Cigna Group during the 4th quarter worth approximately $2,244,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at The Cigna Group

In related news, CEO David Cordani sold 31,209 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of $355.17, for a total transaction of $11,084,500.53. Following the completion of the sale, the chief executive officer now owns 348,054 shares in the company, valued at approximately $123,618,339.18. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Eric P. Palmer sold 6,083 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $340.00, for a total value of $2,068,220.00. Following the completion of the sale, the insider now owns 44,649 shares in the company, valued at approximately $15,180,660. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David Cordani sold 31,209 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief executive officer now owns 348,054 shares of the company’s stock, valued at approximately $123,618,339.18. The disclosure for this sale can be found here. Insiders have sold 114,144 shares of company stock valued at $39,296,330 in the last ninety days. Insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

CI has been the topic of several recent research reports. Wells Fargo & Company upped their target price 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. Oppenheimer reaffirmed an “outperform” rating and set a $360.00 target price on shares of The Cigna Group in a research note on Wednesday, January 17th. Cantor Fitzgerald reissued an “overweight” rating and issued a $384.00 price objective on shares of The Cigna Group in a research report on Wednesday, April 10th. Sanford C. Bernstein raised shares of The Cigna Group from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $330.00 to $372.00 in a research report on Thursday, January 4th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $392.00 price objective (up from $382.00) on shares of The Cigna Group in a research report on Monday, March 4th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $362.14.

The Cigna Group Stock Up 0.0 %

Shares of NYSE CI traded up $0.12 during mid-day trading on Wednesday, reaching $357.16. The company had a trading volume of 813,370 shares, compared to its average volume of 1,551,477. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.61. The firm has a 50 day simple moving average of $350.50 and a two-hundred day simple moving average of $318.94. The stock has a market cap of $104.42 billion, a P/E ratio of 20.54, a PEG ratio of 1.09 and a beta of 0.56. 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 posted its earnings results on Friday, February 2nd. The health services provider reported $6.79 EPS for the quarter, beating analysts’ consensus estimates of $6.54 by $0.25. The firm had revenue of $51.15 billion for the quarter, compared to the consensus estimate of $48.91 billion. The Cigna Group had a net margin of 2.64% and a return on equity of 13.59%. The company’s revenue was up 11.8% on a year-over-year basis. During the same period last year, the firm posted $4.96 EPS. Sell-side analysts predict that The Cigna Group will post 28.36 earnings per share for the current year.

The Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Tuesday, June 4th will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Tuesday, June 4th. The Cigna Group’s dividend payout ratio (DPR) is 32.20%.

The Cigna Group Company 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.