Gitterman Wealth Management LLC Buys New Stake in The Cigna Group (NYSE:CI)

Gitterman Wealth Management LLC bought a new stake in The Cigna Group (NYSE:CI) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 896 shares of the health services provider’s stock, valued at approximately $269,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Avestar Capital LLC increased its stake in shares of The Cigna Group by 0.8% during the third quarter. Avestar Capital LLC now owns 4,585 shares of the health services provider’s stock worth $1,312,000 after acquiring an additional 35 shares during the period. Eads & Heald Wealth Management increased its stake in shares of The Cigna Group by 1.7% during the third quarter. Eads & Heald Wealth Management now owns 2,123 shares of the health services provider’s stock worth $607,000 after acquiring an additional 35 shares during the period. Relyea Zuckerberg Hanson LLC increased its stake in shares of The Cigna Group by 3.2% during the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 1,113 shares of the health services provider’s stock worth $333,000 after acquiring an additional 35 shares during the period. Strategic Blueprint LLC increased its stake in shares of The Cigna Group by 4.8% during the third quarter. Strategic Blueprint LLC now owns 784 shares of the health services provider’s stock worth $224,000 after acquiring an additional 36 shares during the period. Finally, E&G Advisors LP increased its stake in shares of The Cigna Group by 1.8% during the third quarter. E&G Advisors LP now owns 2,137 shares of the health services provider’s stock worth $611,000 after acquiring an additional 37 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

Insider Activity at The Cigna Group

In related news, CEO David Cordani sold 38,065 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $335.22, for a total transaction of $12,760,149.30. Following the transaction, the chief executive officer now owns 329,321 shares of the company’s stock, valued at $110,394,985.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Eric P. Palmer sold 1,017 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $335.26, for a total transaction of $340,959.42. Following the completion of the transaction, the insider now owns 45,564 shares of the company’s stock, valued at $15,275,786.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Cordani sold 38,065 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $335.22, for a total transaction of $12,760,149.30. Following the transaction, the chief executive officer now directly owns 329,321 shares of the company’s stock, valued at approximately $110,394,985.62. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 114,144 shares of company stock valued at $39,296,330. Company insiders own 0.60% of the company’s stock.

The Cigna Group Price Performance

Shares of NYSE CI traded down $0.04 on Friday, hitting $354.47. The company’s stock had a trading volume of 830,527 shares, compared to its average volume of 1,260,787. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.67. The company has a market capitalization of $103.63 billion, a price-to-earnings ratio of 20.38, a price-to-earnings-growth ratio of 1.09 and a beta of 0.56. The stock has a 50 day moving average of $349.88 and a 200-day moving average of $317.98. The Cigna Group has a 12-month low of $240.50 and a 12-month high of $365.71.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Friday, February 2nd. The health services provider reported $6.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.54 by $0.25. The business had revenue of $51.15 billion for the quarter, compared to the consensus estimate of $48.91 billion. The Cigna Group had a net margin of 2.64% and a return on equity of 13.59%. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.96 earnings per share. As a group, research analysts predict that The Cigna Group will post 28.36 EPS for the current year.

The Cigna Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Tuesday, June 4th will be paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Tuesday, June 4th. The Cigna Group’s payout ratio is 32.20%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CI. Wells Fargo & Company boosted their price target on shares of The Cigna Group from $334.00 to $348.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 6th. Oppenheimer restated an “outperform” rating and set a $360.00 target price on shares of The Cigna Group in a research report on Wednesday, January 17th. Sanford C. Bernstein upgraded shares of The Cigna Group from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $330.00 to $372.00 in a research report on Thursday, January 4th. Deutsche Bank Aktiengesellschaft upgraded shares of The Cigna Group from a “hold” rating to a “buy” rating and upped their target price for the stock from $355.00 to $370.00 in a research report on Thursday, February 1st. Finally, Morgan Stanley restated an “overweight” rating and set a $392.00 target price (up from $382.00) on shares of The Cigna Group in a research report on Monday, March 4th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $362.14.

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.