Belpointe Asset Management LLC Grows Position in The Cigna Group (NYSE:CI)

Belpointe Asset Management LLC grew its stake in The Cigna Group (NYSE:CI) by 30.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,237 shares of the health services provider’s stock after buying an additional 526 shares during the period. Belpointe Asset Management LLC’s holdings in The Cigna Group were worth $618,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Kesler Norman & Wride LLC raised its stake in The Cigna Group by 1.8% in the 4th quarter. Kesler Norman & Wride LLC now owns 2,033 shares of the health services provider’s stock worth $562,000 after acquiring an additional 35 shares during the last quarter. Hudson Edge Investment Partners Inc. raised its stake in shares of The Cigna Group by 1.9% in the fourth quarter. Hudson Edge Investment Partners Inc. now owns 1,883 shares of the health services provider’s stock worth $520,000 after purchasing an additional 36 shares during the last quarter. Meridian Wealth Management LLC lifted its holdings in shares of The Cigna Group by 1.0% during the fourth quarter. Meridian Wealth Management LLC now owns 3,670 shares of the health services provider’s stock worth $1,013,000 after purchasing an additional 37 shares during the period. Mindset Wealth Management LLC boosted its position in The Cigna Group by 2.6% in the fourth quarter. Mindset Wealth Management LLC now owns 1,469 shares of the health services provider’s stock valued at $406,000 after buying an additional 37 shares during the last quarter. Finally, Jacobi Capital Management LLC increased its holdings in The Cigna Group by 2.2% in the 4th quarter. Jacobi Capital Management LLC now owns 1,749 shares of the health services provider’s stock worth $483,000 after buying an additional 38 shares during the period. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other The Cigna Group news, insider Nicole S. Jones sold 4,904 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the transaction, the insider now owns 29,421 shares of the company’s stock, valued at approximately $9,065,198.52. The trade was a 14.29 % decrease in their ownership of the stock. The transaction 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 firm’s stock in a transaction 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 sale, 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 in the last 90 days. 0.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CI. Sanford C. Bernstein cut shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective for the company. in a research note on Thursday, February 6th. Raymond James restated a “strong-buy” rating and set a $360.00 target price (down from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 8th. Guggenheim started coverage on The Cigna Group in a report on Wednesday, April 9th. They issued a “buy” rating and a $384.00 price objective for the company. Finally, Stephens dropped their target price 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. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $373.56.

The Cigna Group Stock Performance

CI opened at $328.44 on Wednesday. The company has a market cap of $89.89 billion, a price-to-earnings ratio of 26.83, a PEG ratio of 0.98 and a beta of 0.51. The firm’s fifty day simple moving average is $313.58 and its two-hundred day simple moving average is $311.06. 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 Cigna Group (NYSE:CI) last posted 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 return on equity of 18.61% and a net margin of 1.39%. During the same period last year, the firm earned $6.79 earnings per share. Equities analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were paid a $1.51 dividend. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a yield of 1.84%. The ex-dividend date was Wednesday, March 5th. The Cigna Group’s dividend payout ratio is currently 49.35%.

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.