Summit Financial LLC Has $581,000 Stock Position in The Cigna Group (NYSE:CI)

Summit Financial LLC boosted its position in The Cigna Group (NYSE:CI) by 36.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,104 shares of the health services provider’s stock after buying an additional 567 shares during the quarter. Summit Financial LLC’s holdings in The Cigna Group were worth $581,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of CI. Benjamin Edwards Inc. acquired a new position in shares of The Cigna Group during the 3rd quarter worth about $730,000. Garden State Investment Advisory Services LLC acquired a new position in shares of The Cigna Group during the third quarter worth approximately $444,000. Hilltop Holdings Inc. boosted its position in shares of The Cigna Group by 70.5% in the third quarter. Hilltop Holdings Inc. now owns 1,173 shares of the health services provider’s stock valued at $406,000 after acquiring an additional 485 shares during the period. Prana Capital Management LP acquired a new stake in shares of The Cigna Group in the third quarter worth $12,079,000. Finally, Redwood Investment Management LLC increased its position in The Cigna Group by 3.9% during the third quarter. Redwood Investment Management LLC now owns 4,383 shares of the health services provider’s stock worth $1,524,000 after acquiring an additional 164 shares during the period. Institutional investors own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on CI shares. StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 29th. Sanford C. Bernstein downgraded The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 target price on the stock. in a research report on Thursday, February 6th. Royal Bank of Canada set a $355.00 price target on The Cigna Group in a report on Friday, January 31st. Stephens decreased their price objective on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Finally, Oppenheimer cut their target price on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a research note on Friday, January 31st. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $373.25.

Insider Activity

In related news, insider Noelle K. Eder sold 9,944 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $320.00, for a total value of $3,182,080.00. Following the transaction, the insider now owns 13,406 shares in the company, valued at $4,289,920. This trade represents a 42.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David Cordani sold 26,527 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 127,767 shares of the company’s stock, valued at $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. Insiders have sold 43,751 shares of company stock valued at $13,603,991 over the last three months. 0.70% of the stock is owned by insiders.

The Cigna Group Stock Up 0.3 %

Shares of CI opened at $332.09 on Thursday. The business’s 50 day simple moving average is $307.29 and its 200-day simple moving average is $313.13. The Cigna Group has a one year low of $262.03 and a one year high of $370.83. The company has a market capitalization of $90.89 billion, a P/E ratio of 27.13, a PEG ratio of 0.98 and a beta of 0.50. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share 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 earnings per share. As a group, sell-side analysts predict that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.82%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date was Wednesday, March 5th. The Cigna Group’s dividend payout ratio is presently 49.35%.

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.