Raymond James & Associates Purchases 24,708 Shares of The Cigna Group (NYSE:CI)

Raymond James & Associates boosted its position in The Cigna Group (NYSE:CI) by 4.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 583,606 shares of the health services provider’s stock after purchasing an additional 24,708 shares during the quarter. Raymond James & Associates owned about 0.20% of The Cigna Group worth $211,960,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CI. Bogart Wealth LLC grew its position in The Cigna Group by 104.5% during the third quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock worth $26,000 after buying an additional 46 shares in the last quarter. OFI Invest Asset Management bought a new stake in shares of The Cigna Group during the 3rd quarter valued at $26,000. Fortitude Family Office LLC bought a new position in shares of The Cigna Group in the fourth quarter worth $29,000. Raleigh Capital Management Inc. increased its position in shares of The Cigna Group by 69.5% in the fourth quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock worth $30,000 after purchasing an additional 41 shares during the period. Finally, VisionPoint Advisory Group LLC raised its stake 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 valued at $30,000 after purchasing an additional 55 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CI has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft raised The Cigna Group from a “hold” rating to a “buy” rating and raised their target price for the company from $355.00 to $370.00 in a report on Thursday, February 1st. Morgan Stanley reissued an “overweight” rating and issued a $392.00 target price (up previously from $382.00) on shares of The Cigna Group in a report on Monday, March 4th. Wells Fargo & Company lifted their price target on shares of The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. Mizuho boosted their target price on shares of The Cigna Group from $360.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, February 5th. Finally, Royal Bank of Canada upgraded shares of The Cigna Group from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $327.00 to $354.00 in a report on Monday, February 5th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, The Cigna Group has a consensus rating of “Buy” and a consensus target price of $362.14.

Insider Buying and Selling

In related news, CEO David Cordani sold 38,065 shares of The Cigna Group stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $335.22, for a total value of $12,760,149.30. Following the sale, the chief executive officer now owns 329,321 shares of the company’s stock, valued at approximately $110,394,985.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other The Cigna Group news, insider Eric P. Palmer sold 6,083 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $340.00, for a total transaction of $2,068,220.00. Following the completion of the transaction, the insider now owns 44,649 shares in the company, valued at $15,180,660. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Cordani sold 38,065 shares of The Cigna Group stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $335.22, for a total transaction of $12,760,149.30. Following the completion of the transaction, the chief executive officer now owns 329,321 shares of the company’s stock, valued at $110,394,985.62. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 114,144 shares of company stock worth $39,296,330. Insiders own 0.60% of the company’s stock.

The Cigna Group Stock Down 0.0 %

CI traded down $0.04 during midday trading on Friday, reaching $354.47. 830,527 shares of the company were exchanged, compared to its average volume of 1,260,787. The company has a market cap of $103.63 billion, a price-to-earnings ratio of 20.38, a price-to-earnings-growth ratio of 1.09 and a beta of 0.56. The Cigna Group has a one year low of $240.50 and a one year high of $365.71. The company’s fifty day moving average price is $349.88 and its 200 day moving average price is $317.80. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.67 and a current ratio of 0.67.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Friday, February 2nd. The health services provider reported $6.79 earnings per share for the quarter, topping the consensus estimate of $6.54 by $0.25. The Cigna Group had a net margin of 2.64% and a return on equity of 13.59%. The business had revenue of $51.15 billion for the quarter, compared to analysts’ expectations of $48.91 billion. During the same period in the previous year, the company earned $4.96 earnings per share. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, analysts expect that The Cigna Group will post 28.36 EPS for the current year.

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Tuesday, June 4th will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $5.60 annualized dividend and a yield of 1.58%. The Cigna Group’s payout ratio is currently 32.20%.

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.