GWN Securities Inc. Purchases Shares of 794 The Cigna Group (NYSE:CI)

GWN Securities Inc. purchased a new stake in shares of The Cigna Group (NYSE:CI) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 794 shares of the health services provider’s stock, valued at approximately $233,000.

Several other institutional investors have also added to or reduced their stakes in CI. Collier Financial purchased a new stake in The Cigna Group during the 4th quarter valued at $32,000. ORG Wealth Partners LLC bought a new position in The Cigna Group in the 4th quarter worth $34,000. Prospera Private Wealth LLC bought a new position in The Cigna Group in the 3rd quarter worth $37,000. Compagnie Lombard Odier SCmA bought a new position in The Cigna Group in the 4th quarter worth $37,000. Finally, Heck Capital Advisors LLC bought a new position in The Cigna Group in the 4th quarter worth $53,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Performance

Shares of CI stock opened at $317.23 on Tuesday. The Cigna Group has a one year low of $262.03 and a one year high of $370.83. The company’s 50-day moving average is $297.55 and its 200 day moving average is $315.92. The company has a market capitalization of $86.82 billion, a price-to-earnings ratio of 25.92, 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 quick ratio of 0.72 and a current ratio of 0.66.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 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 quarter in the previous year, the company earned $6.79 EPS. Sell-side 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 declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend is Wednesday, March 5th. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio (DPR) is presently 49.35%.

Wall Street Analyst Weigh In

Several research analysts have commented on CI shares. Cantor Fitzgerald decreased their price objective on shares of The Cigna Group from $400.00 to $350.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Oppenheimer decreased their price objective on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a report on Friday, January 31st. Barclays decreased 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 report on Friday, January 31st. Piper Sandler restated an “overweight” rating and issued a $348.00 price objective (down from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Finally, Sanford C. Bernstein lowered shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price target for the company. in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $372.31.

Insider Activity

In related news, insider Noelle K. Eder sold 9,944 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $320.00, for a total value of $3,182,080.00. Following the transaction, the insider now owns 13,406 shares of the company’s stock, valued at approximately $4,289,920. This trade represents a 42.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO David Cordani sold 26,527 shares of the business’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 transaction of $8,173,499.24. Following 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 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. 0.60% of the stock is currently owned by insiders.

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.