Confluence Wealth Services Inc. Buys 80 Shares of The Cigna Group (NYSE:CI)

Confluence Wealth Services Inc. increased its position in shares of The Cigna Group (NYSE:CI) by 5.8% in the 1st quarter, HoldingsChannel reports. The firm owned 1,467 shares of the health services provider’s stock after acquiring an additional 80 shares during the quarter. Confluence Wealth Services Inc.’s holdings in The Cigna Group were worth $533,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Strategic Blueprint LLC increased its stake in shares of The Cigna Group by 4.8% in the 3rd quarter. Strategic Blueprint LLC now owns 784 shares of the health services provider’s stock valued at $224,000 after purchasing an additional 36 shares during the last quarter. Simplicity Solutions LLC grew its position in The Cigna Group by 17.4% in the third quarter. Simplicity Solutions LLC now owns 8,030 shares of the health services provider’s stock valued at $2,297,000 after acquiring an additional 1,189 shares during the last quarter. Ropes Wealth Advisors LLC raised its stake in The Cigna Group by 31.5% during the third quarter. Ropes Wealth Advisors LLC now owns 1,557 shares of the health services provider’s stock worth $445,000 after acquiring an additional 373 shares in the last quarter. Avestar Capital LLC lifted its holdings in shares of The Cigna Group by 0.8% in the third quarter. Avestar Capital LLC now owns 4,585 shares of the health services provider’s stock worth $1,312,000 after acquiring an additional 35 shares during the last quarter. Finally, Lake Street Financial LLC lifted its holdings in shares of The Cigna Group by 6.8% in the third quarter. Lake Street Financial LLC now owns 9,637 shares of the health services provider’s stock worth $2,798,000 after acquiring an additional 612 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at The Cigna Group

In other news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total transaction 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 legal filing with the SEC, which is accessible through this link. In other news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the transaction, the senior vice president now owns 2,102 shares in the company, valued at $694,668.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eric P. Palmer sold 1,017 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $335.26, for a total value of $340,959.42. Following the completion of the sale, the insider now owns 45,564 shares of the company’s stock, valued at $15,275,786.64. The disclosure for this sale can be found here. Insiders have sold a total of 114,144 shares of company stock worth $39,296,330 in the last 90 days. Corporate insiders own 0.70% of the company’s stock.

The Cigna Group Trading Up 0.2 %

The Cigna Group stock traded up $0.67 during mid-day trading on Tuesday, hitting $357.11. 1,216,208 shares of the stock were exchanged, compared to its average volume of 1,561,397. The stock has a market capitalization of $104.40 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 1.09 and a beta of 0.56. The Cigna Group has a 12 month low of $240.50 and a 12 month high of $365.71. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The firm’s fifty day simple moving average is $350.50 and its two-hundred day simple moving average is $318.94.

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

The Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date is Tuesday, June 4th. The Cigna Group’s dividend payout ratio is 32.20%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of The Cigna Group from a “hold” rating to a “buy” rating and upped their price objective for the stock from $355.00 to $370.00 in a research report on Thursday, February 1st. Sanford C. Bernstein upgraded The Cigna Group from a “market perform” rating to an “outperform” rating and increased their price target for the company from $330.00 to $372.00 in a research note on Thursday, January 4th. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 14th. Wells Fargo & Company upped their target price on The Cigna Group from $334.00 to $348.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. Finally, Mizuho lifted their price target on The Cigna Group from $360.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, February 5th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, The Cigna Group presently has an average rating of “Buy” and a consensus price target of $362.14.

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.