Hennion & Walsh Asset Management Inc. Raises Holdings in The Cigna Group (NYSE:CI)

Hennion & Walsh Asset Management Inc. boosted its stake in shares of The Cigna Group (NYSE:CI) by 13.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,212 shares of the health services provider’s stock after purchasing an additional 144 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in The Cigna Group were worth $399,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Presilium Private Wealth LLC increased its holdings in The Cigna Group by 17.9% during the 1st quarter. Presilium Private Wealth LLC now owns 1,043 shares of the health services provider’s stock worth $343,000 after purchasing an additional 158 shares during the period. Smith Anglin Financial LLC purchased a new position in shares of The Cigna Group in the 1st quarter valued at about $212,000. Sentry Investment Management LLC purchased a new position in shares of The Cigna Group in the 1st quarter valued at about $281,000. RFG Advisory LLC purchased a new position in shares of The Cigna Group in the 1st quarter valued at about $233,000. Finally, HBW Advisory Services LLC increased its holdings in shares of The Cigna Group by 3.7% in the 1st quarter. HBW Advisory Services LLC now owns 11,397 shares of the health services provider’s stock valued at $3,750,000 after acquiring an additional 403 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Up 0.2%

The Cigna Group stock opened at $311.68 on Monday. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The stock has a 50 day moving average of $323.39 and a two-hundred day moving average of $308.90. 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 stock has a market capitalization of $83.26 billion, a price-to-earnings ratio of 25.46, a PEG ratio of 0.98 and a beta of 0.44.

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

The Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders 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 dividend on an annualized basis and a yield of 1.94%. The Cigna Group’s payout ratio is 33.44%.

Analysts Set New Price Targets

A number of research analysts have recently commented on CI shares. Cowen reiterated a “buy” rating on shares of The Cigna Group in a report on Monday, May 5th. Piper Sandler increased their price objective on The Cigna Group from $348.00 to $374.00 and gave the company an “overweight” rating in a report on Monday, May 5th. Cantor Fitzgerald increased their price objective on The Cigna Group from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Thursday, March 20th. Barclays reiterated an “overweight” rating and issued a $385.00 price objective (up previously from $382.00) on shares of The Cigna Group in a report on Monday, June 2nd. Finally, Morgan Stanley raised their price target on The Cigna Group from $379.00 to $390.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $380.39.

Insider Activity

In other news, Director Elder Granger sold 2,376 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $310.35, for a total value of $737,391.60. Following the completion of the sale, the director now directly owns 5,471 shares of the company’s stock, valued at $1,697,924.85. This trade represents a 30.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.70% of the company’s stock.

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.