Wealthcare Advisory Partners LLC Boosts Holdings in The Cigna Group (NYSE:CI)

Wealthcare Advisory Partners LLC increased its position in The Cigna Group (NYSE:CI) by 7.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,484 shares of the health services provider’s stock after purchasing an additional 104 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in The Cigna Group were worth $539,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Sanders Capital LLC raised its holdings in The Cigna Group by 1.3% in the fourth quarter. Sanders Capital LLC now owns 7,727,729 shares of the health services provider’s stock valued at $2,314,068,000 after acquiring an additional 97,277 shares in the last quarter. Morgan Stanley grew its stake in The Cigna Group by 4.7% in the third quarter. Morgan Stanley now owns 4,973,106 shares of the health services provider’s stock worth $1,422,657,000 after purchasing an additional 225,115 shares in the last quarter. Norges Bank bought a new stake in The Cigna Group in the fourth quarter valued at about $1,006,348,000. Parnassus Investments LLC raised its stake in The Cigna Group by 5.0% during the fourth quarter. Parnassus Investments LLC now owns 2,682,061 shares of the health services provider’s stock valued at $803,143,000 after buying an additional 126,598 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of The Cigna Group by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,978,465 shares of the health services provider’s stock worth $592,451,000 after acquiring an additional 53,414 shares in the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CI shares. JPMorgan Chase & Co. raised their price objective on The Cigna Group from $432.00 to $435.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Piper Sandler started coverage on shares of The Cigna Group in a report on Wednesday. They issued an “overweight” rating and a $400.00 price target for the company. Robert W. Baird assumed coverage on shares of The Cigna Group in a research note on Thursday, May 30th. They set an “outperform” rating and a $388.00 price objective on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a report on Wednesday, June 12th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $392.00 target price (up from $382.00) on shares of The Cigna Group in a report on Monday, March 4th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $376.20.

Insiders Place Their Bets

In related news, insider Brian C. Evanko sold 4,795 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $345.01, for a total value of $1,654,322.95. Following the completion of the transaction, the insider now owns 39,923 shares in the company, valued at approximately $13,773,834.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Brian C. Evanko sold 4,795 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $345.01, for a total value of $1,654,322.95. Following the completion of the transaction, the insider now owns 39,923 shares of the company’s stock, valued at approximately $13,773,834.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $348.71, for a total transaction of $2,073,429.66. Following the sale, the senior vice president now directly owns 2,595 shares in the company, valued at $904,902.45. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,988 shares of company stock worth $7,975,726. 0.60% of the stock is owned by insiders.

The Cigna Group Stock Down 1.1 %

CI stock opened at $330.57 on Friday. The firm’s 50-day moving average is $341.23 and its two-hundred day moving average is $333.15. The company has a market capitalization of $93.91 billion, a price-to-earnings ratio of 27.14, a price-to-earnings-growth ratio of 1.02 and a beta of 0.53. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $365.71. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.75.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results 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 Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The firm had revenue of $57.25 billion during the quarter, compared to analyst estimates of $56.59 billion. During the same period last year, the company posted $5.41 EPS. The firm’s quarterly revenue was up 23.2% on a year-over-year basis. On average, analysts forecast that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Tuesday, June 4th were paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.69%. The ex-dividend date was Tuesday, June 4th. The Cigna Group’s dividend payout ratio is presently 45.98%.

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.