Monument Capital Management Invests $222,000 in The Cigna Group (NYSE:CI)

Monument Capital Management bought a new position in shares of The Cigna Group (NYSE:CI) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 610 shares of the health services provider’s stock, valued at approximately $222,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Axxcess Wealth Management LLC purchased a new stake in The Cigna Group in the third quarter valued at approximately $359,000. Alps Advisors Inc. purchased a new stake in The Cigna Group in the third quarter valued at approximately $3,869,000. Evergreen Capital Management LLC raised its position in The Cigna Group by 3.0% in the third quarter. Evergreen Capital Management LLC now owns 3,601 shares of the health services provider’s stock valued at $1,030,000 after purchasing an additional 105 shares during the period. Ellerson Group Inc. ADV purchased a new stake in The Cigna Group in the third quarter valued at approximately $114,000. Finally, KPP Advisory Services LLC purchased a new stake in The Cigna Group in the third quarter valued at approximately $274,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CI shares. Barclays started coverage on The Cigna Group in a research report on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 target price on the stock. JPMorgan Chase & Co. upped their price objective on The Cigna Group from $432.00 to $435.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Robert W. Baird started coverage on 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. StockNews.com lowered The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 12th. Finally, Piper Sandler started coverage on The Cigna Group in a research report on Wednesday, June 26th. They set an “overweight” rating and a $400.00 price objective on the stock. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $376.20.

Insider Buying and Selling at The Cigna Group

In other news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the stock in a transaction dated 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 completion of the sale, the senior vice president now owns 2,595 shares in the company, valued at $904,902.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Noelle K. Eder sold 10,700 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $348.47, for a total transaction of $3,728,629.00. Following the completion of the sale, the insider now owns 15,824 shares in the company, valued at $5,514,189.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $348.71, for a total transaction of $2,073,429.66. Following the transaction, the senior vice president now directly owns 2,595 shares of the company’s stock, valued at $904,902.45. The disclosure for this sale can be found here. Insiders sold 22,988 shares of company stock worth $7,975,726 over the last 90 days. Corporate insiders own 0.70% of the company’s stock.

The Cigna Group Stock Performance

NYSE CI opened at $325.07 on Thursday. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.71 and a quick ratio of 0.71. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $365.71. The company has a market capitalization of $92.34 billion, a PE ratio of 26.69, a P/E/G ratio of 1.01 and a beta of 0.52. The company has a fifty day moving average of $340.15 and a two-hundred day moving average of $333.85.

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 the consensus estimate of $6.17 by $0.30. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The company had revenue of $57.25 billion during the quarter, compared to the consensus estimate of $56.59 billion. During the same quarter in the prior year, the firm posted $5.41 earnings per share. The Cigna Group’s revenue for the quarter was up 23.2% on a year-over-year basis. As a group, analysts expect that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th were paid a $1.40 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $5.60 annualized dividend and a yield of 1.72%. 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.