Maridea Wealth Management LLC Invests $343,000 in The Cigna Group (NYSE:CI)

Maridea Wealth Management LLC acquired a new stake in The Cigna Group (NYSE:CI - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,243 shares of the health services provider's stock, valued at approximately $343,000.

A number of other large investors have also modified their holdings of the company. TCTC Holdings LLC purchased a new position in shares of The Cigna Group in the 4th quarter valued at about $25,000. Collier Financial purchased a new stake in shares of The Cigna Group in the fourth quarter valued at approximately $32,000. ORG Wealth Partners LLC acquired a new position in shares of The Cigna Group during the 4th quarter worth approximately $34,000. Compagnie Lombard Odier SCmA purchased a new position in shares of The Cigna Group during the 4th quarter valued at approximately $37,000. Finally, Heck Capital Advisors LLC acquired a new stake in The Cigna Group in the 4th quarter valued at $53,000. Institutional investors and hedge funds own 86.99% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CI shares. StockNews.com raised shares of The Cigna Group from a "buy" rating to a "strong-buy" rating in a report on Saturday, March 29th. Wells Fargo & Company cut their price objective on The Cigna Group from $370.00 to $341.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 4th. UBS Group decreased their target price on The Cigna Group from $410.00 to $390.00 and set a "buy" rating on the stock in a research report 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 report on Thursday, March 20th. Finally, Barclays decreased their price objective on The Cigna Group from $420.00 to $339.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, The Cigna Group currently has an average rating of "Buy" and an average target price of $373.25.

Insider Activity at The Cigna Group

In other news, CEO David Cordani sold 26,527 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $8,173,499.24. Following the completion of the transaction, the chief executive officer now 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Elder Granger sold 2,376 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $310.35, for a total transaction of $737,391.60. Following the sale, the director now owns 5,471 shares in the company, valued at approximately $1,697,924.85. This trade represents a 30.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,751 shares of company stock worth $13,603,991. Insiders own 0.70% of the company's stock.

The Cigna Group Trading Up 2.2 %

CI traded up $7.22 during trading hours on Thursday, reaching $339.14. The company's stock had a trading volume of 824,528 shares, compared to its average volume of 1,649,956. The business's 50-day moving average is $307.29 and its 200-day moving average is $313.13. 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 stock has a market cap of $92.82 billion, a PE ratio of 27.71, a P/E/G ratio of 0.98 and a beta of 0.50. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83.

The Cigna Group (NYSE:CI - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share 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 previous year, the firm earned $6.79 EPS. As a group, equities research analysts predict that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were issued a $1.51 dividend. This is a positive change from The Cigna Group's previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a dividend yield of 1.78%. The ex-dividend date was Wednesday, March 5th. The Cigna Group's dividend payout ratio is currently 49.35%.

The Cigna Group 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.