Cypress Advisory Group LLC Makes New $1.42 Million Investment in The Cigna Group (NYSE:CI)

Cypress Advisory Group LLC purchased a new stake in shares of The Cigna Group (NYSE:CI) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 5,157 shares of the health services provider’s stock, valued at approximately $1,424,000. The Cigna Group accounts for 1.3% of Cypress Advisory Group LLC’s holdings, making the stock its 25th biggest holding.

A number of other hedge funds and other institutional investors have also modified their holdings of CI. Kesler Norman & Wride LLC grew its holdings in The Cigna Group by 1.8% during the 4th quarter. Kesler Norman & Wride LLC now owns 2,033 shares of the health services provider’s stock worth $562,000 after acquiring an additional 35 shares during the last quarter. Hudson Edge Investment Partners Inc. increased its stake in shares of The Cigna Group by 1.9% in the 4th quarter. Hudson Edge Investment Partners Inc. now owns 1,883 shares of the health services provider’s stock valued at $520,000 after buying an additional 36 shares during the period. Meridian Wealth Management LLC raised its position in shares of The Cigna Group by 1.0% during the fourth quarter. Meridian Wealth Management LLC now owns 3,670 shares of the health services provider’s stock worth $1,013,000 after acquiring an additional 37 shares during the last quarter. Mindset Wealth Management LLC raised its position in shares of The Cigna Group by 2.6% during the fourth quarter. Mindset Wealth Management LLC now owns 1,469 shares of the health services provider’s stock worth $406,000 after acquiring an additional 37 shares during the last quarter. Finally, Jacobi Capital Management LLC lifted its position in The Cigna Group by 2.2% during the 4th quarter. Jacobi Capital Management LLC now owns 1,749 shares of the health services provider’s stock valued at $483,000 after purchasing an additional 38 shares during the period. 86.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO David Cordani sold 26,527 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the completion of the transaction, the chief executive officer now owns 127,767 shares of the company’s stock, valued at approximately $39,367,568.04. The trade was a 17.19 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Noelle K. Eder sold 9,944 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $320.00, for a total value of $3,182,080.00. Following the completion of the sale, the insider now directly owns 13,406 shares in the company, valued at $4,289,920. This trade represents a 42.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,751 shares of company stock worth $13,603,991. Corporate insiders own 0.70% of the company’s stock.

The Cigna Group Price Performance

The Cigna Group stock opened at $340.21 on Thursday. The stock’s fifty day moving average price is $322.13 and its two-hundred day moving average price is $310.45. The firm has a market cap of $93.11 billion, a PE ratio of 27.79, a price-to-earnings-growth ratio of 0.98 and a beta of 0.51. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72. The Cigna Group has a one year low of $262.03 and a one year high of $370.83.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing analysts’ consensus estimates of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same period last year, the company posted $6.79 earnings per share. As a group, research analysts expect that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be given a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 1.78%. The ex-dividend date is Tuesday, June 3rd. The Cigna Group’s payout ratio is presently 49.35%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CI shares. Cantor Fitzgerald increased their price objective on shares of The Cigna Group from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Thursday, March 20th. Oppenheimer lowered their price target on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a report on Friday, January 31st. Wells Fargo & Company lowered their price objective on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Royal Bank of Canada set a $355.00 price objective on shares of The Cigna Group in a research report on Friday, January 31st. Finally, Sanford C. Bernstein lowered shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price target on the stock. in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, The Cigna Group presently has an average rating of “Buy” and a consensus target price of $373.56.

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.