Fifth Third Wealth Advisors LLC Purchases Shares of 800 The Cigna Group (NYSE:CI)

Fifth Third Wealth Advisors LLC acquired a new position in The Cigna Group (NYSE:CI) during the first quarter, Holdings Channel.com reports. The firm acquired 800 shares of the health services provider’s stock, valued at approximately $291,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CI. Fortitude Family Office LLC purchased a new position in shares of The Cigna Group in the 4th quarter valued at about $29,000. Raleigh Capital Management Inc. increased its stake in The Cigna Group by 69.5% during the 4th quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock worth $30,000 after buying an additional 41 shares in the last quarter. VisionPoint Advisory Group LLC increased its stake in The Cigna Group by 112.2% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock worth $30,000 after buying an additional 55 shares in the last quarter. Pineridge Advisors LLC purchased a new stake in The Cigna Group during the 4th quarter worth approximately $37,000. Finally, Pacifica Partners Inc. increased its stake in The Cigna Group by 73.2% during the 4th quarter. Pacifica Partners Inc. now owns 142 shares of the health services provider’s stock worth $43,000 after buying an additional 60 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Stock Performance

Shares of CI traded down $3.58 during mid-day trading on Friday, hitting $330.57. 2,539,685 shares of the company’s stock were exchanged, compared to its average volume of 1,622,051. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $365.71. The firm has a market capitalization of $93.91 billion, a P/E ratio of 27.44, a P/E/G ratio of 1.03 and a beta of 0.53. The business’s 50 day moving average is $341.96 and its two-hundred day moving average is $332.69. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.75.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share for the quarter, topping the consensus estimate of $6.17 by $0.30. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The business had revenue of $57.25 billion during the quarter, compared to the consensus estimate of $56.59 billion. During the same quarter in the prior year, the firm earned $5.41 earnings per share. The business’s quarterly revenue was up 23.2% compared to the same quarter last year. On average, equities analysts expect that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Tuesday, June 4th were given a $1.40 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.69%. The Cigna Group’s payout ratio is currently 45.98%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a research note on Wednesday, June 12th. Barclays began coverage on The Cigna Group in a research note on Wednesday, March 6th. They set an “overweight” rating and a $393.00 price objective for the company. Oppenheimer upped their price target on The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Baird R W upgraded The Cigna Group to a “strong-buy” rating in a research report on Thursday, May 30th. Finally, Piper Sandler assumed coverage on The Cigna Group in a report on Wednesday. They issued an “overweight” rating and a $400.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $376.20.

Insider Activity at The Cigna Group

In other news, Director Elder Granger sold 547 shares of The Cigna Group stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $331.38, for a total transaction of $181,264.86. Following the completion of the sale, the director now directly owns 5,471 shares in the company, valued at approximately $1,812,979.98. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Elder Granger sold 547 shares of The Cigna Group stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $331.38, for a total transaction of $181,264.86. Following the completion of the sale, the director now directly owns 5,471 shares in the company, valued at approximately $1,812,979.98. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $348.71, for a total transaction of $2,073,429.66. Following the transaction, the senior vice president now directly owns 2,595 shares of the company’s stock, valued at $904,902.45. The disclosure for this sale can be found here. Insiders sold a total of 22,988 shares of company stock worth $7,975,726 over the last 90 days. Company insiders own 0.60% of the company’s stock.

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.