The Cigna Group (NYSE:CI) Stake Boosted by RWA Wealth Partners LLC

RWA Wealth Partners LLC increased its position in shares of The Cigna Group (NYSE:CI) by 2.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 3,127 shares of the health services provider’s stock after buying an additional 67 shares during the quarter. RWA Wealth Partners LLC’s holdings in The Cigna Group were worth $863,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CI. Allianz SE purchased a new stake in shares of The Cigna Group during the 4th quarter worth about $6,902,000. Allstate Corp acquired a new position in The Cigna Group in the fourth quarter worth approximately $2,293,000. Maridea Wealth Management LLC bought a new position in The Cigna Group during the fourth quarter valued at approximately $343,000. DnB Asset Management AS lifted its stake in The Cigna Group by 6.7% in the fourth quarter. DnB Asset Management AS now owns 130,201 shares of the health services provider’s stock valued at $35,954,000 after acquiring an additional 8,139 shares during the last quarter. Finally, Level Four Advisory Services LLC grew its position in The Cigna Group by 12.1% in the fourth quarter. Level Four Advisory Services LLC now owns 1,941 shares of the health services provider’s stock worth $536,000 after acquiring an additional 210 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CI. Wells Fargo & Company cut their price target on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Stephens cut their target price on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Truist Financial cut their price objective on The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. Royal Bank of Canada set a $355.00 target price on The Cigna Group in a research report on Friday, January 31st. Finally, Piper Sandler reissued an “overweight” rating and issued a $348.00 price target (down previously from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $373.25.

Insiders Place Their Bets

In other news, Director Elder Granger sold 2,376 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $310.35, for a total transaction of $737,391.60. Following the sale, the director now directly owns 5,471 shares of the company’s stock, valued at $1,697,924.85. This represents a 30.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Noelle K. Eder sold 9,944 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the completion of the transaction, the insider now owns 13,406 shares of the company’s stock, valued at $4,289,920. This trade represents a 42.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,751 shares of company stock valued at $13,603,991 in the last 90 days. 0.70% of the stock is currently owned by insiders.

The Cigna Group Stock Performance

NYSE CI opened at $329.33 on Tuesday. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The company has a 50 day moving average of $305.58 and a 200-day moving average of $313.24. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The firm has a market cap of $90.13 billion, a price-to-earnings ratio of 26.91, a PEG ratio of 0.98 and a beta of 0.53.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share 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 firm earned $6.79 EPS. On average, equities analysts forecast that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were given a dividend of $1.51 per share. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $6.04 annualized dividend and a yield of 1.83%. The Cigna Group’s dividend payout ratio is 49.35%.

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.