Florida Financial Advisors LLC Boosts Stake in The Cigna Group (NYSE:CI)

Florida Financial Advisors LLC lifted its holdings in shares of The Cigna Group (NYSE:CI) by 7.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 920 shares of the health services provider’s stock after buying an additional 60 shares during the period. Florida Financial Advisors LLC’s holdings in The Cigna Group were worth $254,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Eagle Asset Management Inc. grew its stake in shares of The Cigna Group by 21.7% in the third quarter. Eagle Asset Management Inc. now owns 10,397 shares of the health services provider’s stock worth $3,325,000 after acquiring an additional 1,855 shares during the period. Larson Financial Group LLC grew its position in The Cigna Group by 56.3% in the 3rd quarter. Larson Financial Group LLC now owns 261 shares of the health services provider’s stock worth $90,000 after purchasing an additional 94 shares during the period. Summit Trail Advisors LLC raised its stake in The Cigna Group by 21.3% during the 3rd quarter. Summit Trail Advisors LLC now owns 2,034 shares of the health services provider’s stock valued at $705,000 after buying an additional 357 shares during the last quarter. Dynamic Technology Lab Private Ltd lifted its holdings in shares of The Cigna Group by 5.6% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 5,338 shares of the health services provider’s stock valued at $1,849,000 after buying an additional 285 shares during the period. Finally, Loomis Sayles & Co. L P grew its holdings in shares of The Cigna Group by 21.2% in the third quarter. Loomis Sayles & Co. L P now owns 246 shares of the health services provider’s stock worth $85,000 after acquiring an additional 43 shares during the period. 86.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. 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 report on Thursday, February 6th. UBS Group dropped their price objective 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. StockNews.com raised shares of The Cigna Group from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. Barclays dropped their price target on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Finally, Raymond James restated a “strong-buy” rating and issued a $360.00 price objective (down from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $373.25.

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 that occurred 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Elder Granger sold 2,376 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $310.35, for a total value of $737,391.60. Following the transaction, the director now directly owns 5,471 shares in the company, valued at approximately $1,697,924.85. This represents a 30.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,751 shares of company stock worth $13,603,991 in the last quarter. 0.60% of the stock is owned by corporate insiders.

The Cigna Group Trading Down 1.2 %

Shares of CI opened at $316.64 on Wednesday. The firm has a market cap of $86.66 billion, a P/E ratio of 25.87, a price-to-earnings-growth 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 Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The company has a 50 day simple moving average of $302.25 and a two-hundred day simple moving average of $314.19.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share 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 quarter in the previous year, the firm earned $6.79 EPS. On average, equities analysts expect 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 declared 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. The ex-dividend date of this dividend was Wednesday, March 5th. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a yield of 1.91%. 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.