MorganRosel Wealth Management LLC Invests $214,000 in The Cigna Group (NYSE:CI)

MorganRosel Wealth Management LLC bought a new position in The Cigna Group (NYSE:CI) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 588 shares of the health services provider’s stock, valued at approximately $214,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Breakwater Capital Group grew its stake in The Cigna Group by 3.4% in the first quarter. Breakwater Capital Group now owns 1,183 shares of the health services provider’s stock valued at $430,000 after acquiring an additional 39 shares during the period. Optas LLC lifted its position in shares of The Cigna Group by 1.7% during the 1st quarter. Optas LLC now owns 5,022 shares of the health services provider’s stock valued at $1,824,000 after buying an additional 86 shares during the last quarter. Red Door Wealth Management LLC lifted its position in shares of The Cigna Group by 3.1% during the 1st quarter. Red Door Wealth Management LLC now owns 3,435 shares of the health services provider’s stock valued at $1,248,000 after buying an additional 102 shares during the last quarter. Cornerstone Wealth Group LLC purchased a new position in shares of The Cigna Group during the 1st quarter valued at $1,095,000. Finally, New Mexico Educational Retirement Board lifted its holdings in The Cigna Group by 22.2% during the 1st quarter. New Mexico Educational Retirement Board now owns 18,747 shares of the health services provider’s stock worth $6,809,000 after purchasing an additional 3,400 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other The Cigna Group news, insider Brian C. Evanko sold 4,795 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the sale, the insider now directly owns 39,923 shares of the company’s stock, valued at $13,773,834.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Brian C. Evanko sold 4,795 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the transaction, the insider now owns 39,923 shares of the company’s stock, valued at $13,773,834.23. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Elder Granger sold 547 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $331.38, for a total value of $181,264.86. Following the transaction, the director now directly owns 5,471 shares in the company, valued at approximately $1,812,979.98. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,988 shares of company stock worth $7,975,726. Corporate insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CI shares. JPMorgan Chase & Co. increased their price objective on The Cigna Group from $432.00 to $435.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Piper Sandler began coverage on The Cigna Group in a research report on Wednesday, June 26th. They set an “overweight” rating and a $400.00 price target on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a research report on Wednesday, June 12th. Morgan Stanley reiterated an “overweight” rating and issued a $392.00 price objective (up previously from $382.00) on shares of The Cigna Group in a report on Monday, March 4th. Finally, Robert W. Baird assumed coverage on The Cigna Group in a report on Thursday, May 30th. They issued an “outperform” rating and a $388.00 price objective for the company. 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’s stock. Based on data from MarketBeat, The Cigna Group presently has an average rating of “Buy” and an average target price of $376.20.

The Cigna Group Price Performance

NYSE CI opened at $326.27 on Tuesday. The company has a market capitalization of $92.68 billion, a PE ratio of 26.79, a price-to-earnings-growth ratio of 1.01 and a beta of 0.52. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.71 and a current ratio of 0.71. The business’s fifty day moving average is $341.23 and its 200 day moving average is $333.41. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $365.71.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, beating the consensus estimate of $6.17 by $0.30. The business had revenue of $57.25 billion for the quarter, compared to the consensus estimate of $56.59 billion. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The business’s revenue was up 23.2% on a year-over-year basis. During the same period in the previous year, the business earned $5.41 earnings per share. Sell-side analysts predict that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Tuesday, June 4th were given a $1.40 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.72%. The Cigna Group’s dividend payout ratio is currently 45.98%.

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.