Summit Financial LLC Takes $263,000 Position in The Cigna Group (NYSE:CI)

Summit Financial LLC acquired a new position in The Cigna Group (NYSE:CI) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 877 shares of the health services provider’s stock, valued at approximately $263,000.

Other hedge funds have also recently bought and sold shares of the company. Bogart Wealth LLC boosted its position in The Cigna Group by 104.5% during the 3rd quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock worth $26,000 after acquiring an additional 46 shares during the period. OFI Invest Asset Management bought a new stake in shares of The Cigna Group during the third quarter valued at about $26,000. Fortitude Family Office LLC acquired a new stake in The Cigna Group in the fourth quarter worth about $29,000. VisionPoint Advisory Group LLC lifted its holdings in The Cigna Group by 112.2% in the third quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock worth $30,000 after purchasing an additional 55 shares during the period. Finally, Pacifica Partners Inc. grew its position in The Cigna Group by 73.2% in the 4th quarter. Pacifica Partners Inc. now owns 142 shares of the health services provider’s stock valued at $43,000 after buying an additional 60 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors.

Insider Transactions at The Cigna Group

In related news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total value of $1,608,446.16. Following the completion of the sale, the senior vice president now owns 2,102 shares of the company’s stock, valued at approximately $694,668.96. The sale was disclosed in a document filed with the SEC, which is available at this link. In other The Cigna Group news, CEO David Cordani sold 38,065 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $335.22, for a total transaction of $12,760,149.30. Following the transaction, the chief executive officer now directly owns 329,321 shares in the company, valued at $110,394,985.62. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total value of $1,608,446.16. Following the completion of the sale, the senior vice president now directly owns 2,102 shares of the company’s stock, valued at approximately $694,668.96. The disclosure for this sale can be found here. Insiders sold 114,144 shares of company stock valued at $39,296,330 in the last three months. Corporate insiders own 0.60% of the company’s stock.

The Cigna Group Stock Down 0.9 %

CI stock opened at $341.45 on Friday. The company’s 50 day simple moving average is $350.82 and its 200-day simple moving average is $319.39. The Cigna Group has a 52-week low of $240.50 and a 52-week high of $365.71. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.71 and a quick ratio of 0.67. The firm has a market capitalization of $99.83 billion, a P/E ratio of 28.03, a P/E/G ratio of 1.05 and a beta of 0.57.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share for the quarter, beating the consensus estimate of $6.17 by $0.30. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The company had revenue of $57.25 billion for the quarter, compared to analysts’ expectations of $56.59 billion. During the same quarter in the previous year, the business posted $5.41 EPS. The business’s revenue for the quarter was up 23.2% on a year-over-year basis. As a group, equities research analysts anticipate that The Cigna Group will post 28.4 EPS for the current year.

The Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend is Tuesday, June 4th. The Cigna Group’s payout ratio is currently 45.98%.

Wall Street Analyst Weigh In

A number of research firms have commented on CI. Oppenheimer boosted their price target on shares of The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft upgraded The Cigna Group from a “hold” rating to a “buy” rating and lifted their price target for the company from $355.00 to $370.00 in a research report on Thursday, February 1st. Wells Fargo & Company upped their price objective on The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. Morgan Stanley reaffirmed an “overweight” rating and set a $392.00 target price (up from $382.00) on shares of The Cigna Group in a report on Monday, March 4th. Finally, Mizuho upped their price target on shares of The Cigna Group from $360.00 to $370.00 and gave the company a “buy” rating in a report on Monday, February 5th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, The Cigna Group has an average rating of “Buy” and an average price target of $366.14.

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.