West Branch Capital LLC Increases Stock Position in The Cigna Group (NYSE:CI)

West Branch Capital LLC increased its holdings in The Cigna Group (NYSE:CIFree Report) by 79.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 339 shares of the health services provider’s stock after acquiring an additional 150 shares during the quarter. West Branch Capital LLC’s holdings in The Cigna Group were worth $102,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Bogart Wealth LLC increased its stake in The Cigna Group by 104.5% in the third quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock valued at $26,000 after purchasing an additional 46 shares during the period. OFI Invest Asset Management purchased a new position in shares of The Cigna Group during the third quarter worth about $26,000. Fairfield Bush & CO. acquired a new position in The Cigna Group in the 2nd quarter valued at about $28,000. Fortitude Family Office LLC acquired a new position in The Cigna Group in the 4th quarter valued at about $29,000. Finally, Optimum Investment Advisors raised its stake in The Cigna Group by 110.0% during the 3rd quarter. Optimum Investment Advisors now owns 105 shares of the health services provider’s stock valued at $30,000 after acquiring an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Sanford C. Bernstein raised The Cigna Group from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $330.00 to $372.00 in a report on Thursday, January 4th. Jefferies Financial Group upgraded shares of The Cigna Group from a “hold” rating to a “buy” rating and upped their price objective for the stock from $335.00 to $341.00 in a research report on Monday, December 11th. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 14th. Royal Bank of Canada upgraded shares of The Cigna Group from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $327.00 to $354.00 in a research note on Monday, February 5th. Finally, Morgan Stanley restated an “overweight” rating and issued a $392.00 price objective (up previously from $382.00) on shares of The Cigna Group in a research report on Monday, March 4th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $361.29.

Get Our Latest Report on The Cigna Group

The Cigna Group Trading Down 0.0 %

Shares of CI opened at $363.19 on Friday. The Cigna Group has a twelve month low of $240.50 and a twelve month high of $365.71. 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 market capitalization of $106.18 billion, a P/E ratio of 20.89, a PEG ratio of 1.11 and a beta of 0.55. The firm’s 50-day moving average is $335.56 and its two-hundred day moving average is $308.40.

The Cigna Group (NYSE:CIGet Free Report) last released its quarterly earnings results on Friday, February 2nd. The health services provider reported $6.79 earnings per share for the quarter, topping analysts’ consensus estimates of $6.54 by $0.25. The Cigna Group had a return on equity of 13.59% and a net margin of 2.64%. The business had revenue of $51.15 billion for the quarter, compared to analysts’ expectations of $48.91 billion. During the same quarter in the prior year, the firm posted $4.96 EPS. The company’s revenue was up 11.8% compared to the same quarter last year. On average, research analysts predict that The Cigna Group will post 28.36 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th were given a $1.40 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.54%. This is a boost from The Cigna Group’s previous quarterly dividend of $1.23. The Cigna Group’s dividend payout ratio (DPR) is currently 32.20%.

Insider Transactions at The Cigna Group

In other The Cigna Group news, CEO David Cordani sold 31,209 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 348,054 shares in the company, valued at approximately $123,618,339.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO David Cordani sold 31,209 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $355.17, for a total value of $11,084,500.53. Following the sale, the chief executive officer now owns 348,054 shares of the company’s stock, valued at approximately $123,618,339.18. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Eric P. Palmer sold 1,017 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $335.26, for a total value of $340,959.42. Following the transaction, the insider now directly owns 45,564 shares of the company’s stock, valued at approximately $15,275,786.64. The disclosure for this sale can be found here. Insiders sold 114,144 shares of company stock valued at $39,296,330 in the last 90 days. 0.60% of the stock is currently owned by insiders.

The Cigna Group Profile

(Free Report)

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.

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Institutional Ownership by Quarter for The Cigna Group (NYSE:CI)

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