Global Assets Advisory LLC Acquires Shares of 14,927 The Cigna Group (NYSE:CI)

Global Assets Advisory LLC bought a new position in shares of The Cigna Group (NYSE:CI) in the first quarter, according to the company in its most recent filing with the SEC. The firm bought 14,927 shares of the health services provider’s stock, valued at approximately $5,421,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Somerset Trust Co increased its position in The Cigna Group by 1.6% during the 1st quarter. Somerset Trust Co now owns 2,209 shares of the health services provider’s stock worth $802,000 after buying an additional 34 shares during the period. Relyea Zuckerberg Hanson LLC boosted its holdings in The Cigna Group by 3.2% in the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 1,113 shares of the health services provider’s stock valued at $333,000 after purchasing an additional 35 shares during the period. Dorsey & Whitney Trust CO LLC boosted its holdings in The Cigna Group by 1.7% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 2,132 shares of the health services provider’s stock valued at $638,000 after purchasing an additional 36 shares during the period. Legacy Financial Advisors Inc. grew its position in shares of The Cigna Group by 3.1% during the 4th quarter. Legacy Financial Advisors Inc. now owns 1,250 shares of the health services provider’s stock worth $374,000 after purchasing an additional 37 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC increased its holdings in shares of The Cigna Group by 0.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 10,520 shares of the health services provider’s stock worth $3,150,000 after purchasing an additional 38 shares during the period. 86.99% of the stock is owned by institutional investors.

The Cigna Group Stock Up 0.9 %

Shares of NYSE CI opened at $342.97 on Tuesday. The company has a market cap of $97.43 billion, a price-to-earnings ratio of 28.16, a PEG ratio of 1.04 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 firm’s fifty day moving average is $342.28 and its 200 day moving average is $332.10. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $365.71.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, May 2nd. The health services provider reported $6.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.17 by $0.30. The firm had revenue of $57.25 billion for 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 company’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.41 earnings per share. On average, equities research analysts expect that The Cigna Group will post 28.47 earnings per share for the current year.

The Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th were issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.63%. The ex-dividend date was Tuesday, June 4th. The Cigna Group’s dividend payout ratio (DPR) is currently 45.98%.

Insider Transactions at The Cigna Group

In other The Cigna Group news, Director Elder Granger sold 547 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $331.38, for a total transaction of $181,264.86. Following the transaction, the director now directly owns 5,471 shares of the company’s stock, valued at approximately $1,812,979.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Elder Granger sold 547 shares of The Cigna Group stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $331.38, for a total transaction of $181,264.86. Following the sale, the director now owns 5,471 shares of the company’s stock, valued at approximately $1,812,979.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Noelle K. Eder sold 10,700 shares of the stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $348.47, for a total transaction of $3,728,629.00. Following the completion of the transaction, the insider now directly owns 15,824 shares of the company’s stock, valued at $5,514,189.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,193 shares of company stock worth $6,321,404. 0.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CI. StockNews.com lowered The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 12th. Barclays initiated coverage on The Cigna Group in a report on Wednesday, March 6th. They set an “overweight” rating and a $393.00 target price on the stock. JPMorgan Chase & Co. increased their price objective on shares of The Cigna Group from $432.00 to $435.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Baird R W raised The Cigna Group to a “strong-buy” rating in a research note on Thursday, May 30th. Finally, Robert W. Baird started coverage on shares of The Cigna Group in a research report on Thursday, May 30th. They set an “outperform” rating and a $388.00 price objective on the stock. Two investment 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 data from MarketBeat.com, The Cigna Group currently has an average rating of “Buy” and a consensus price target of $374.50.

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.