AssuredPartners Investment Advisors LLC Acquires Shares of 1,435 The Cigna Group (NYSE:CI)

AssuredPartners Investment Advisors LLC bought a new position in shares of The Cigna Group (NYSE:CI) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 1,435 shares of the health services provider’s stock, valued at approximately $396,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. TCTC Holdings LLC acquired a new position in The Cigna Group in the 4th quarter valued at $25,000. Collier Financial acquired a new position in shares of The Cigna Group in the fourth quarter valued at about $32,000. ORG Wealth Partners LLC bought a new position in The Cigna Group during the fourth quarter worth about $34,000. Compagnie Lombard Odier SCmA acquired a new stake in The Cigna Group in the 4th quarter worth about $37,000. Finally, Heck Capital Advisors LLC bought a new stake in The Cigna Group in the 4th quarter valued at about $53,000. Institutional investors own 86.99% of the company’s stock.

Insider Activity

In other news, Director Elder Granger sold 2,376 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $310.35, for a total value of $737,391.60. Following the completion of the sale, the director now owns 5,471 shares of the company’s stock, valued at approximately $1,697,924.85. This represents a 30.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO David Cordani sold 26,527 shares of The Cigna Group stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $8,173,499.24. Following the completion of the transaction, the chief executive officer now directly owns 127,767 shares in the company, valued at approximately $39,367,568.04. This represents a 17.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,751 shares of company stock valued at $13,603,991. Insiders own 0.70% of the company’s stock.

The Cigna Group Stock Up 0.1 %

Shares of NYSE:CI opened at $324.97 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The company has a market capitalization of $88.94 billion, a PE ratio of 26.55, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53. The company has a fifty day moving average of $304.67 and a 200-day moving average of $314.08.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing analysts’ consensus estimates of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same period last year, the business earned $6.79 EPS. On average, equities analysts predict that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were given a $1.51 dividend. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a yield of 1.86%. The ex-dividend date was Wednesday, March 5th. The Cigna Group’s dividend payout ratio is 49.35%.

Analysts Set New Price Targets

Several research analysts have recently commented on CI shares. Royal Bank of Canada set a $355.00 target price on shares of The Cigna Group in a report on Friday, January 31st. UBS Group dropped their price objective on The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Oppenheimer reduced their target price on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a report on Friday, January 31st. Raymond James reaffirmed a “strong-buy” rating and issued a $360.00 price target (down previously from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Finally, Cantor Fitzgerald increased their price objective on shares of The Cigna Group from $350.00 to $365.00 and gave the stock an “overweight” rating in a research note on Thursday, March 20th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, The Cigna Group currently has an average rating of “Buy” and a consensus price target of $373.25.

The Cigna Group Company 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.