Visionary Wealth Advisors Purchases 512 Shares of The Cigna Group (NYSE:CI)

Visionary Wealth Advisors boosted its position in shares of The Cigna Group (NYSE:CI) by 18.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,355 shares of the health services provider’s stock after purchasing an additional 512 shares during the period. Visionary Wealth Advisors’ holdings in The Cigna Group were worth $926,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CI. Kesler Norman & Wride LLC raised its stake in The Cigna Group by 1.8% during the fourth quarter. Kesler Norman & Wride LLC now owns 2,033 shares of the health services provider’s stock worth $562,000 after purchasing an additional 35 shares during the period. Hudson Edge Investment Partners Inc. increased its position in shares of The Cigna Group by 1.9% during the fourth quarter. Hudson Edge Investment Partners Inc. now owns 1,883 shares of the health services provider’s stock valued at $520,000 after acquiring an additional 36 shares during the last quarter. Meridian Wealth Management LLC increased 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 valued at $1,013,000 after acquiring an additional 37 shares during the last quarter. Mindset Wealth Management LLC increased 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 valued at $406,000 after acquiring an additional 37 shares during the last quarter. Finally, Jacobi Capital Management LLC increased its position in shares of The Cigna Group by 2.2% during the fourth quarter. Jacobi Capital Management LLC now owns 1,749 shares of the health services provider’s stock valued at $483,000 after acquiring an additional 38 shares during the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Stock Up 0.9%

Shares of The Cigna Group stock opened at $324.75 on Wednesday. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The company has a 50 day moving average of $325.48 and a 200 day moving average of $310.02. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $86.75 billion, a P/E ratio of 26.53, a P/E/G ratio of 0.98 and a beta of 0.47.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.35 by $0.39. The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. The company had revenue of $65.45 billion during the quarter, compared to the consensus estimate of $60.39 billion. During the same quarter in the previous year, the firm earned $6.47 earnings per share. The firm’s quarterly revenue was up 14.4% on a year-over-year basis. As a group, research analysts forecast that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be given a dividend of $1.51 per share. The ex-dividend date is Tuesday, June 3rd. This represents a $6.04 annualized dividend and a dividend yield of 1.86%. The Cigna Group’s dividend payout ratio is presently 33.44%.

Insider Transactions at The Cigna Group

In other news, insider Nicole S. Jones sold 4,904 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the transaction, the insider now directly owns 29,421 shares of the company’s stock, valued at $9,065,198.52. This represents a 14.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Elder Granger sold 2,376 shares of the company’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $310.35, for a total transaction of $737,391.60. Following the transaction, the director now directly owns 5,471 shares in the company, valued at approximately $1,697,924.85. This trade represents a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,751 shares of company stock worth $13,603,991. 0.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CI shares. Piper Sandler lifted their price target on shares of The Cigna Group from $348.00 to $374.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. UBS Group dropped their price target on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Oppenheimer dropped their price target on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a research report on Friday, January 31st. Barclays lifted their price target on shares of The Cigna Group from $339.00 to $382.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. Finally, Mizuho lifted their price target on shares of The Cigna Group from $360.00 to $384.00 and gave the company an “outperform” rating in a research report on Wednesday, April 9th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $379.33.

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.