Family Legacy Inc. Purchases 58 Shares of The Cigna Group (NYSE:CI)

Family Legacy Inc. boosted its holdings in shares of The Cigna Group (NYSE:CI) by 0.9% in the fourth quarter, HoldingsChannel reports. The firm owned 6,466 shares of the health services provider’s stock after acquiring an additional 58 shares during the period. Family Legacy Inc.’s holdings in The Cigna Group were worth $1,806,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of CI. TCTC Holdings LLC bought a new stake in shares of The Cigna Group during the fourth quarter worth approximately $25,000. Collier Financial acquired a new stake in shares of The Cigna Group during the fourth quarter worth about $32,000. ORG Wealth Partners LLC acquired a new position in shares of The Cigna Group in the fourth quarter valued at approximately $34,000. Compagnie Lombard Odier SCmA bought a new position in The Cigna Group during the 4th quarter worth about $37,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of The Cigna Group in the fourth quarter valued at approximately $53,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

CI has been the subject of several analyst reports. Morgan Stanley decreased their target price on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Cantor Fitzgerald lifted their price target on shares of The Cigna Group from $350.00 to $365.00 and gave the company an “overweight” rating in a research report on Thursday, March 20th. UBS Group reduced 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 research note on Monday, February 3rd. Stephens dropped their target price on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Finally, Sanford C. Bernstein lowered 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. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $373.25.

The Cigna Group Price Performance

CI opened at $324.97 on Monday. The stock’s 50-day moving average price is $304.67 and its 200 day moving average price is $313.47. 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 Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The firm has a market cap of $88.94 billion, a price-to-earnings ratio of 26.55, a PEG ratio of 0.98 and a beta of 0.53.

The Cigna Group (NYSE:CI) last posted 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 period in the previous year, the company earned $6.79 EPS. As a group, sell-side analysts expect that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The firm also recently announced 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 a positive change from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a yield of 1.86%. The ex-dividend date was Wednesday, March 5th. The Cigna Group’s dividend payout ratio is presently 49.35%.

Insider Transactions at The Cigna Group

In other The Cigna Group news, Director Elder Granger sold 2,376 shares of The Cigna Group stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $310.35, for a total transaction of $737,391.60. Following the sale, the director now directly owns 5,471 shares in the company, valued at $1,697,924.85. The trade was a 30.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Cordani sold 26,527 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 $8,173,499.24. Following the completion of the transaction, 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 worth $13,603,991 in the last three months. Company insiders own 0.70% 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.