Mystic Asset Management Inc. Acquires New Holdings in The Cigna Group (NYSE:CI)

Mystic Asset Management Inc. purchased a new stake in shares of The Cigna Group (NYSE:CI - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 9,185 shares of the health services provider's stock, valued at approximately $2,536,000.

Other hedge funds 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 approximately $25,000. Collier Financial purchased a new position in shares of The Cigna Group in the 4th quarter valued at approximately $32,000. ORG Wealth Partners LLC purchased a new position in shares of The Cigna Group in the 4th quarter valued at approximately $34,000. Prospera Private Wealth LLC purchased a new position in shares of The Cigna Group in the 3rd quarter valued at approximately $37,000. Finally, Compagnie Lombard Odier SCmA purchased a new position in shares of The Cigna Group in the 4th quarter valued at approximately $37,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at The Cigna Group

In other news, insider Noelle K. Eder sold 9,944 shares of The Cigna Group stock in a transaction on Friday, March 7th. The stock was sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the transaction, the insider now owns 13,406 shares in the company, valued at $4,289,920. The trade was a 42.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David Cordani sold 26,527 shares of The Cigna Group stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $8,173,499.24. Following the transaction, the chief executive officer now owns 127,767 shares in the company, valued at approximately $39,367,568.04. This represents a 17.19 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,751 shares of company stock worth $13,603,991. Corporate insiders own 0.60% of the company's stock.

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The Cigna Group Price Performance

The Cigna Group stock traded down $4.61 during trading on Friday, reaching $316.78. The company had a trading volume of 3,552,779 shares, compared to its average volume of 1,564,274. The firm's 50-day simple moving average is $300.83 and its 200 day simple moving average is $315.40. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The firm has a market capitalization of $86.70 billion, a PE ratio of 25.88, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66.

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 (EPS) for the quarter, missing analysts' consensus estimates 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 last year, the firm posted $6.79 earnings per share. As a group, equities research analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were issued a $1.51 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a yield of 1.91%. This is a positive change from The Cigna Group's previous quarterly dividend of $1.40. The Cigna Group's dividend payout ratio (DPR) is presently 49.35%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Raymond James reissued a "strong-buy" rating and set a $360.00 price target (down from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Oppenheimer reduced their price target on shares of The Cigna Group from $400.00 to $375.00 and set an "outperform" rating for the company in a research report on Friday, January 31st. Barclays reduced their price target on shares of The Cigna Group from $420.00 to $339.00 and set an "overweight" rating for the company in a research report on Friday, January 31st. UBS Group reduced their price target on shares of The Cigna Group from $410.00 to $390.00 and set a "buy" rating for the company in a research report on Monday, February 3rd. Finally, Sanford C. Bernstein lowered shares of The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 price target for the company. in a research report on Thursday, February 6th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $373.25.

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.