Gitterman Wealth Management LLC Makes New Investment in The Cigna Group (NYSE:CI)

Gitterman Wealth Management LLC purchased a new position in The Cigna Group (NYSE:CI) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 982 shares of the health services provider’s stock, valued at approximately $271,000.

A number of other large investors have also bought and sold shares of the stock. Adero Partners LLC boosted its stake in The Cigna Group by 4.5% during the third quarter. Adero Partners LLC now owns 788 shares of the health services provider’s stock valued at $273,000 after buying an additional 34 shares during the last quarter. CreativeOne Wealth LLC boosted its stake in The Cigna Group by 3.0% during the third quarter. CreativeOne Wealth LLC now owns 1,219 shares of the health services provider’s stock valued at $422,000 after buying an additional 35 shares during the last quarter. Hudson Edge Investment Partners Inc. boosted its stake in The Cigna Group by 1.9% during the fourth quarter. Hudson Edge Investment Partners Inc. now owns 1,883 shares of the health services provider’s stock valued at $520,000 after buying an additional 36 shares during the last quarter. Meridian Wealth Management LLC boosted its stake in 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 valued at $1,013,000 after buying an additional 37 shares during the last quarter. Finally, Smithfield Trust Co boosted its stake in The Cigna Group by 3.6% during the third quarter. Smithfield Trust Co now owns 1,080 shares of the health services provider’s stock valued at $373,000 after buying an additional 38 shares during the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at The Cigna Group

In other news, 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 owns 127,767 shares of the company’s stock, valued at $39,367,568.04. This trade represents a 17.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nicole S. Jones sold 4,904 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 $1,511,020.48. Following the completion of the sale, the insider now directly owns 29,421 shares of the company’s stock, valued at $9,065,198.52. The trade was a 14.29 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,375 shares of company stock valued at $12,866,600. 0.60% of the stock is currently owned by corporate insiders.

The Cigna Group Stock Up 0.4 %

Shares of NYSE CI opened at $313.35 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $85.76 billion, a PE ratio of 25.60, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53. The stock’s fifty day simple moving average is $296.79 and its two-hundred day simple moving average is $316.52. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83.

The Cigna Group (NYSE:CI) last announced its earnings results 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 in the prior year, the firm posted $6.79 EPS. As a group, analysts expect 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 will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.93%. The ex-dividend date is Wednesday, March 5th. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio (DPR) is 49.35%.

Analysts Set New Price Targets

A number of equities analysts recently commented on CI shares. Barclays dropped their price target on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Cantor Fitzgerald decreased their price objective on The Cigna Group from $400.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Sanford C. Bernstein downgraded The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective on the stock. in a research report on Thursday, February 6th. StockNews.com upgraded The Cigna Group from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Finally, Piper Sandler restated an “overweight” rating and set a $348.00 price objective (down from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. 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 stock. Based on data from MarketBeat.com, The Cigna Group has a consensus rating of “Buy” and an average price target of $372.31.

About The Cigna Group

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.