Gitterman Wealth Management LLC Invests $271,000 in The Cigna Group (NYSE:CI)

Gitterman Wealth Management LLC bought a new position in The Cigna Group (NYSE:CI - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 982 shares of the health services provider's stock, valued at approximately $271,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Greenwich Wealth Management LLC boosted its position in shares of The Cigna Group by 0.8% in the fourth quarter. Greenwich Wealth Management LLC now owns 14,975 shares of the health services provider's stock worth $4,135,000 after buying an additional 112 shares during the period. Choate Investment Advisors lifted its stake in shares of The Cigna Group by 1.5% in the fourth quarter. Choate Investment Advisors now owns 6,923 shares of the health services provider's stock worth $1,912,000 after acquiring an additional 99 shares in the last quarter. Montis Financial LLC acquired a new position in shares of The Cigna Group in the fourth quarter worth about $225,000. Brandes Investment Partners LP lifted its stake in shares of The Cigna Group by 20.4% in the fourth quarter. Brandes Investment Partners LP now owns 623,494 shares of the health services provider's stock worth $172,172,000 after acquiring an additional 105,430 shares in the last quarter. Finally, Hills Bank & Trust Co lifted its stake in shares of The Cigna Group by 2.6% in the fourth quarter. Hills Bank & Trust Co now owns 1,959 shares of the health services provider's stock worth $541,000 after acquiring an additional 49 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company's stock.

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The Cigna Group Stock Performance

CI stock traded up $0.51 on Thursday, reaching $321.34. The company's stock had a trading volume of 1,179,406 shares, compared to its average volume of 1,554,744. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. The company has a market capitalization of $87.94 billion, a P/E ratio of 26.25, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53. The firm has a fifty day moving average of $299.23 and a two-hundred day moving average of $315.68. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72.

The Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings data 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 in the prior year, the business earned $6.79 earnings per share. As a group, analysts predict that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 1.88%. This is a positive change from The Cigna Group's previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Wednesday, March 5th. The Cigna Group's dividend payout ratio is 49.35%.

Analyst Upgrades and Downgrades

Several research firms recently commented on CI. Piper Sandler reiterated an "overweight" rating and issued a $348.00 price target (down previously from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Cantor Fitzgerald boosted their price target on The Cigna Group from $350.00 to $365.00 and gave the stock an "overweight" rating in a research note on Thursday. UBS Group cut their price target on The Cigna Group from $410.00 to $390.00 and set a "buy" rating on the stock in a research note on Monday, February 3rd. Stephens cut their price objective on The Cigna Group from $410.00 to $380.00 and set an "overweight" rating on the stock in a research note on Friday, January 31st. Finally, Truist Financial cut their price objective on The Cigna Group from $390.00 to $375.00 and set a "buy" rating on the stock in a research note on Tuesday, February 4th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, The Cigna Group currently has a consensus rating of "Buy" and an average price target of $373.25.

Insider Buying and Selling

In other The Cigna Group news, CEO David Cordani sold 26,527 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the completion of the transaction, the chief executive officer now directly owns 127,767 shares of the company's stock, valued at approximately $39,367,568.04. This trade represents a 17.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Elder Granger sold 2,376 shares of the stock in a transaction on Friday, March 14th. The shares were sold at an average price of $310.35, for a total value of $737,391.60. Following the transaction, the director now directly owns 5,471 shares of the company's stock, valued at approximately $1,697,924.85. The trade was a 30.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,751 shares of company stock valued at $13,603,991 in the last three months. 0.60% of the stock is currently 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.