Modern Wealth Management LLC Boosts Stock Position in The Cigna Group (NYSE:CI)

Modern Wealth Management LLC increased its position in shares of The Cigna Group (NYSE:CI) by 74.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,624 shares of the health services provider’s stock after purchasing an additional 694 shares during the quarter. Modern Wealth Management LLC’s holdings in The Cigna Group were worth $476,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. EntryPoint Capital LLC grew its position in The Cigna Group by 86.0% during the 4th quarter. EntryPoint Capital LLC now owns 1,680 shares of the health services provider’s stock worth $464,000 after purchasing an additional 777 shares during the period. CoreFirst Bank & Trust purchased a new stake in shares of The Cigna Group in the fourth quarter worth about $575,000. Prudential Financial Inc. grew its holdings in The Cigna Group by 14.3% during the fourth quarter. Prudential Financial Inc. now owns 529,148 shares of the health services provider’s stock worth $146,119,000 after acquiring an additional 66,201 shares during the period. Stevens Capital Management LP purchased a new position in The Cigna Group during the fourth quarter valued at approximately $439,000. Finally, LPL Financial LLC lifted its holdings in The Cigna Group by 15.7% in the fourth quarter. LPL Financial LLC now owns 181,438 shares of the health services provider’s stock valued at $50,102,000 after acquiring an additional 24,578 shares during the period. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. 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. Morgan Stanley dropped their price target on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. StockNews.com upgraded shares of The Cigna Group from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Royal Bank of Canada set a $355.00 price target on shares of The Cigna Group in a research report on Friday, January 31st. Finally, Sanford C. Bernstein cut The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective on the stock. in a report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, The Cigna Group has a consensus rating of “Buy” and an average price target of $373.25.

The Cigna Group Stock Up 1.1 %

Shares of NYSE CI opened at $324.74 on Friday. The company has a market capitalization of $88.88 billion, a P/E ratio of 26.53, a P/E/G ratio of 0.98 and a beta of 0.53. 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 company has a 50 day simple moving average of $303.86 and a 200-day simple moving average of $314.31. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83.

The Cigna Group (NYSE:CI) last posted its 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 in the previous year, the company posted $6.79 earnings per share. On average, equities research analysts predict that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were issued a $1.51 dividend. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a dividend yield of 1.86%. The ex-dividend date was Wednesday, March 5th. The Cigna Group’s dividend payout ratio is currently 49.35%.

Insider Buying and Selling

In other The Cigna Group news, insider Nicole S. Jones sold 4,904 shares of The Cigna Group stock in a transaction dated 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 transaction, 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David Cordani sold 26,527 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the sale, the chief executive officer now directly owns 127,767 shares in the company, valued at $39,367,568.04. This represents a 17.19 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,751 shares of company stock valued at $13,603,991. Company insiders own 0.60% of the company’s stock.

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.