Landing Point Financial Group LLC Makes New Investment in The Cigna Group (NYSE:CI)

Landing Point Financial Group LLC purchased a new position in shares of The Cigna Group (NYSE:CI - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,584 shares of the health services provider's stock, valued at approximately $464,000.

Several other hedge funds also recently modified their holdings of the business. Kesler Norman & Wride LLC lifted its position in shares of The Cigna Group by 1.8% in the 4th quarter. Kesler Norman & Wride LLC now owns 2,033 shares of the health services provider's stock worth $562,000 after acquiring an additional 35 shares during the period. Hudson Edge Investment Partners Inc. raised its stake in shares of The Cigna Group by 1.9% in the fourth quarter. Hudson Edge Investment Partners Inc. now owns 1,883 shares of the health services provider's stock valued at $520,000 after purchasing an additional 36 shares in the last quarter. Meridian Wealth Management LLC boosted its stake in The Cigna Group by 1.0% during the fourth quarter. Meridian Wealth Management LLC now owns 3,670 shares of the health services provider's stock worth $1,013,000 after buying an additional 37 shares in the last quarter. Mindset Wealth Management LLC boosted its stake in The Cigna Group by 2.6% during the fourth quarter. Mindset Wealth Management LLC now owns 1,469 shares of the health services provider's stock worth $406,000 after buying an additional 37 shares in the last quarter. Finally, Jacobi Capital Management LLC increased its holdings in The Cigna Group by 2.2% in the 4th quarter. Jacobi Capital Management LLC now owns 1,749 shares of the health services provider's stock valued at $483,000 after buying an additional 38 shares during the period. 86.99% of the stock is owned by institutional investors.

The Cigna Group Trading Down 0.1 %

Shares of CI traded down $0.40 during trading hours on Wednesday, hitting $336.67. 1,782,705 shares of the stock traded hands, compared to its average volume of 1,697,474. The business has a fifty day moving average of $317.24 and a 200-day moving average of $310.60. The firm has a market capitalization of $92.14 billion, a PE ratio of 27.51, a price-to-earnings-growth ratio of 0.98 and a beta of 0.51. The Cigna Group has a 1-year low of $262.03 and a 1-year 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 Cigna Group (NYSE:CI - Get Free Report) last issued its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same quarter in the prior year, the business posted $6.79 earnings per share. Analysts expect that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 1.79%. The Cigna Group's dividend payout ratio is presently 49.35%.

Insiders Place Their Bets

In other The Cigna Group news, Director Elder Granger sold 2,376 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $310.35, for a total value of $737,391.60. Following the completion of the sale, the director now directly owns 5,471 shares in the company, valued at $1,697,924.85. This represents a 30.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicole S. Jones sold 4,904 shares of The Cigna Group stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $1,511,020.48. Following the transaction, the insider now owns 29,421 shares in the company, valued at $9,065,198.52. This trade represents a 14.29 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,751 shares of company stock worth $13,603,991. Insiders own 0.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CI. Robert W. Baird decreased their target price on shares of The Cigna Group from $388.00 to $362.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Raymond James reaffirmed a "strong-buy" rating and set a $360.00 price objective (down from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Piper Sandler reissued an "overweight" rating and issued a $348.00 target price (down from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Cantor Fitzgerald boosted their price target on The Cigna Group from $350.00 to $365.00 and gave the company an "overweight" rating in a research note on Thursday, March 20th. Finally, Truist Financial upped their price target on The Cigna Group from $375.00 to $385.00 and gave the company a "buy" rating in a research report on Friday, April 11th. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, The Cigna Group presently has an average rating of "Buy" and a consensus price target of $373.56.

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.