The Cigna Group (NYSE:CI) Stock Position Lifted by Moran Wealth Management LLC

Moran Wealth Management LLC grew its position in shares of The Cigna Group (NYSE:CI - Free Report) by 379.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 53,377 shares of the health services provider's stock after buying an additional 42,239 shares during the quarter. Moran Wealth Management LLC's holdings in The Cigna Group were worth $14,740,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Collier Financial acquired a new stake in The Cigna Group in the fourth quarter valued at $32,000. ORG Wealth Partners LLC purchased a new position in shares of The Cigna Group in the 4th quarter valued at about $34,000. Prospera Private Wealth LLC acquired a new stake in shares of The Cigna Group in the 3rd quarter worth approximately $37,000. Compagnie Lombard Odier SCmA purchased a new position in The Cigna Group in the 4th quarter valued at approximately $37,000. Finally, Heck Capital Advisors LLC acquired a new position in The Cigna Group during the fourth quarter worth $53,000. Hedge funds and other institutional investors own 86.99% of the company's stock.

Insider Activity

In related news, insider Nicole S. Jones sold 4,904 shares of the stock in a transaction dated 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 completion of the transaction, the insider now owns 29,421 shares of the company's stock, valued at approximately $9,065,198.52. This represents a 14.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Noelle K. Eder sold 9,944 shares of The Cigna Group stock in a transaction that occurred 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 in the company, valued at $4,289,920. This represents a 42.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,375 shares of company stock worth $12,866,600. 0.60% of the stock is currently owned by company insiders.

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The Cigna Group Trading Down 2.1 %

Shares of CI stock traded down $6.67 during mid-day trading on Wednesday, reaching $311.20. The company's stock had a trading volume of 525,306 shares, compared to its average volume of 1,839,541. 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 firm has a market capitalization of $85.17 billion, a PE ratio of 25.42, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53. The company's 50 day simple moving average is $294.70 and its 200-day simple moving average is $317.14. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83.

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 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 period in the previous year, the business earned $6.79 earnings per share. On average, research analysts predict that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be given a dividend of $1.51 per share. This is a boost from The Cigna Group's previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date is Wednesday, March 5th. The Cigna Group's payout ratio is presently 49.35%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Stephens dropped their price target on The Cigna Group from $410.00 to $380.00 and set an "overweight" rating for the company in a research report on Friday, January 31st. Wells Fargo & Company cut 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. Oppenheimer dropped their price objective on shares of The Cigna Group from $400.00 to $375.00 and set an "outperform" rating for the company in a research note on Friday, January 31st. Sanford C. Bernstein lowered The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 target price on the stock. in a research note on Thursday, February 6th. Finally, 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 report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $372.31.

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.