Larson Financial Group LLC Purchases 3,090 Shares of The Cigna Group (NYSE:CI)

Larson Financial Group LLC boosted its position in shares of The Cigna Group (NYSE:CI - Free Report) by 1,183.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,351 shares of the health services provider's stock after acquiring an additional 3,090 shares during the quarter. Larson Financial Group LLC's holdings in The Cigna Group were worth $925,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Swedbank AB increased its stake in shares of The Cigna Group by 26.6% during the third quarter. Swedbank AB now owns 570,283 shares of the health services provider's stock worth $197,569,000 after purchasing an additional 119,681 shares during the period. CWA Asset Management Group LLC acquired a new position in shares of The Cigna Group in the third quarter valued at about $2,644,000. Mesirow Financial Investment Management Inc. increased its position in The Cigna Group by 5.9% during the third quarter. Mesirow Financial Investment Management Inc. now owns 2,497 shares of the health services provider's stock worth $866,000 after acquiring an additional 139 shares during the period. Covestor Ltd raised its stake in The Cigna Group by 151.7% in the 3rd quarter. Covestor Ltd now owns 818 shares of the health services provider's stock worth $284,000 after purchasing an additional 493 shares in the last quarter. Finally, Sigma Planning Corp grew its position in shares of The Cigna Group by 44.5% during the 3rd quarter. Sigma Planning Corp now owns 3,089 shares of the health services provider's stock worth $1,070,000 after purchasing an additional 952 shares in the last quarter. Institutional investors own 86.99% of the company's stock.

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The Cigna Group Trading Down 2.5 %

CI traded down $7.93 during trading on Wednesday, hitting $309.94. The company's stock had a trading volume of 328,249 shares, compared to its average volume of 1,836,223. The firm has a market capitalization of $84.82 billion, a P/E ratio of 25.35, a PEG ratio of 0.98 and a beta of 0.53. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The stock's fifty day moving average price is $294.70 and its 200-day moving average price is $317.14. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70.

The Cigna Group (NYSE:CI - Get Free Report) last released 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 quarter in the prior year, the firm posted $6.79 EPS. Analysts anticipate that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be given a $1.51 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $6.04 annualized dividend and a yield of 1.95%. This is an increase from The Cigna Group's previous quarterly dividend of $1.40. The Cigna Group's dividend payout ratio (DPR) is presently 49.35%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CI. Piper Sandler reissued an "overweight" rating and set a $348.00 price target (down previously from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Cantor Fitzgerald dropped their price target on The Cigna Group from $400.00 to $350.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. StockNews.com upgraded shares of The Cigna Group from a "hold" rating to a "buy" rating in a research note on Wednesday, February 19th. Wells Fargo & Company dropped their target price on shares of The Cigna Group from $370.00 to $341.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 4th. Finally, Raymond James reiterated a "strong-buy" rating and set a $360.00 price target (down previously from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $372.31.

Insider Activity at The Cigna Group

In other news, insider Nicole S. Jones sold 4,904 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Noelle K. Eder sold 9,944 shares of the company's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $320.00, for a total value of $3,182,080.00. Following the sale, the insider now owns 13,406 shares of the company's stock, valued at $4,289,920. This trade represents a 42.59 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,375 shares of company stock valued at $12,866,600. 0.60% of the stock is owned by company 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.