MONECO Advisors LLC Makes New Investment in The Cigna Group (NYSE:CI)

MONECO Advisors LLC purchased a new position in shares of The Cigna Group (NYSE:CI) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,917 shares of the health services provider’s stock, valued at approximately $574,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CI. Fiera Capital Corp raised its position in The Cigna Group by 2.8% during the third quarter. Fiera Capital Corp now owns 1,858 shares of the health services provider’s stock worth $532,000 after acquiring an additional 50 shares in the last quarter. Kestra Advisory Services LLC increased its holdings in shares of The Cigna Group by 3.4% in the third quarter. Kestra Advisory Services LLC now owns 16,578 shares of the health services provider’s stock valued at $4,742,000 after purchasing an additional 544 shares during the last quarter. Rafferty Asset Management LLC increased its holdings in shares of The Cigna Group by 8.0% in the third quarter. Rafferty Asset Management LLC now owns 30,887 shares of the health services provider’s stock valued at $8,836,000 after purchasing an additional 2,275 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in shares of The Cigna Group in the third quarter valued at $6,132,000. Finally, Envestnet Asset Management Inc. increased its holdings in shares of The Cigna Group by 24.9% in the third quarter. Envestnet Asset Management Inc. now owns 309,511 shares of the health services provider’s stock valued at $88,542,000 after purchasing an additional 61,801 shares during the last quarter. 86.99% of the stock is owned by institutional investors.

The Cigna Group Trading Up 0.2 %

Shares of The Cigna Group stock opened at $333.90 on Tuesday. The company has a market capitalization of $94.85 billion, a price-to-earnings ratio of 27.41, a PEG ratio of 1.02 and a beta of 0.54. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.75. The Cigna Group has a 12-month low of $253.95 and a 12-month high of $365.71. The firm’s 50-day moving average price is $343.82 and its two-hundred day moving average price is $329.38.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, topping analysts’ consensus estimates of $6.17 by $0.30. The firm had revenue of $57.25 billion during the quarter, compared to analysts’ expectations of $56.59 billion. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.41 earnings per share. On average, analysts forecast that The Cigna Group will post 28.47 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th will be issued a $1.40 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.68%. The Cigna Group’s dividend payout ratio (DPR) is currently 45.98%.

Insider Transactions at The Cigna Group

In related news, CEO David Cordani sold 31,209 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $355.17, for a total value of $11,084,500.53. Following the completion of the transaction, the chief executive officer now owns 348,054 shares in the company, valued at approximately $123,618,339.18. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other The Cigna Group news, Director Elder Granger sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $338.08, for a total transaction of $338,080.00. Following the completion of the transaction, the director now owns 5,471 shares in the company, valued at approximately $1,849,635.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO David Cordani sold 31,209 shares of the firm’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 transaction of $11,084,500.53. Following the transaction, the chief executive officer now owns 348,054 shares of the company’s stock, valued at approximately $123,618,339.18. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,193 shares of company stock valued at $19,475,326. 0.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have commented on CI. Baird R W upgraded shares of The Cigna Group to a “strong-buy” rating in a report on Thursday, May 30th. StockNews.com downgraded shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 12th. Robert W. Baird started coverage on shares of The Cigna Group in a research note on Thursday, May 30th. They issued an “outperform” rating and a $388.00 price target on the stock. JPMorgan Chase & Co. upped their price target on shares of The Cigna Group from $432.00 to $435.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Finally, Oppenheimer upped their price target on shares of The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $373.87.

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.