AssuredPartners Investment Advisors LLC Takes Position in The Cigna Group (NYSE:CI)

AssuredPartners Investment Advisors LLC acquired a new position in The Cigna Group (NYSE:CI - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 1,435 shares of the health services provider's stock, valued at approximately $396,000.

Other institutional investors have also added to or reduced their stakes in the company. TCTC Holdings LLC purchased a new stake in The Cigna Group in the fourth quarter worth $25,000. Collier Financial purchased a new stake in The Cigna Group in the fourth quarter worth about $32,000. ORG Wealth Partners LLC bought a new position in shares of The Cigna Group during the fourth quarter valued at approximately $34,000. Compagnie Lombard Odier SCmA purchased a new position in shares of The Cigna Group during the fourth quarter valued at approximately $37,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of The Cigna Group in the 4th quarter worth approximately $53,000. 86.99% of the stock is currently owned by institutional investors.

The Cigna Group Trading Down 0.2 %

Shares of NYSE CI traded down $0.67 during trading hours on Wednesday, reaching $330.33. The stock had a trading volume of 384,912 shares, compared to its average volume of 1,651,677. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. 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 firm has a market cap of $90.40 billion, a price-to-earnings ratio of 26.99, a P/E/G ratio of 0.98 and a beta of 0.50. The business's fifty day moving average price is $306.43 and its two-hundred day moving average price is $313.00.

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The Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same period last year, the company earned $6.79 EPS. Analysts expect that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were paid a dividend of $1.51 per share. This is a boost from The Cigna Group's previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.83%. The Cigna Group's dividend payout ratio (DPR) is presently 49.35%.

Analyst Upgrades and Downgrades

CI has been the subject of several recent analyst reports. UBS Group decreased their target price on shares of The Cigna Group from $410.00 to $390.00 and set a "buy" rating for the company in a report on Monday, February 3rd. Oppenheimer dropped their price objective on shares of The Cigna Group from $400.00 to $375.00 and set an "outperform" rating on the stock in a report on Friday, January 31st. Sanford C. Bernstein cut shares of The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 target price for the company. in a report on Thursday, February 6th. Morgan Stanley dropped their price target on shares of The Cigna Group from $403.00 to $379.00 and set an "overweight" rating on the stock in a research note on Friday, January 31st. Finally, Cantor Fitzgerald upped their price objective on The Cigna Group from $350.00 to $365.00 and gave the stock an "overweight" rating in a research note on Thursday, March 20th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $373.25.

Insiders Place Their Bets

In related news, insider Nicole S. Jones sold 4,904 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the completion of the transaction, the insider now owns 29,421 shares in the company, valued at $9,065,198.52. This represents a 14.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $737,391.60. Following the transaction, the director now owns 5,471 shares in the company, valued at approximately $1,697,924.85. The trade was a 30.28 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,751 shares of company stock worth $13,603,991. 0.70% of the stock is owned by corporate insiders.

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.