The Cigna Group (NYSE:CI) Shares Purchased by World Investment Advisors

World Investment Advisors grew its holdings in shares of The Cigna Group (NYSE:CI) by 115.7% during the 4th quarter, HoldingsChannel reports. The firm owned 3,495 shares of the health services provider’s stock after buying an additional 1,875 shares during the period. World Investment Advisors’ holdings in The Cigna Group were worth $965,000 at the end of the most recent reporting period.

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

The Cigna Group Price Performance

The Cigna Group stock opened at $322.02 on Monday. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The firm has a market cap of $88.13 billion, a PE ratio of 26.31, a price-to-earnings-growth ratio of 0.98 and a beta of 0.50. The company’s 50 day moving average is $308.72 and its two-hundred day moving average is $312.39.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm earned $6.79 earnings per share. On average, research analysts expect that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.88%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Wednesday, March 5th. The Cigna Group’s dividend payout ratio is presently 49.35%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CI shares. Cantor Fitzgerald upped their target price on The Cigna Group from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Thursday, March 20th. Barclays cut their price objective on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. UBS Group decreased their target price on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Stephens reduced their price target on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Finally, Raymond James reiterated a “strong-buy” rating and issued a $360.00 price objective (down from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $373.25.

Insider Activity at The Cigna Group

In other news, Director Elder Granger sold 2,376 shares of the firm’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $310.35, for a total transaction of $737,391.60. Following the sale, the director now owns 5,471 shares of the company’s stock, valued at approximately $1,697,924.85. This trade represents a 30.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Cordani sold 26,527 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were 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 of the company’s stock, valued at $39,367,568.04. This trade represents a 17.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,751 shares of company stock valued at $13,603,991 over the last 90 days. 0.70% of the stock is owned by corporate insiders.

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.