FourThought Financial Partners LLC Purchases 106 Shares of The Cigna Group (NYSE:CI)

FourThought Financial Partners LLC grew its position in The Cigna Group (NYSE:CI) by 6.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,787 shares of the health services provider’s stock after buying an additional 106 shares during the period. FourThought Financial Partners LLC’s holdings in The Cigna Group were worth $535,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Bogart Wealth LLC boosted its position in The Cigna Group by 104.5% during the third quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock worth $26,000 after purchasing an additional 46 shares during the period. OFI Invest Asset Management bought a new stake in shares of The Cigna Group during the 3rd quarter worth about $26,000. Fortitude Family Office LLC acquired a new position in The Cigna Group in the 4th quarter valued at about $29,000. VisionPoint Advisory Group LLC grew its position in shares of The Cigna Group by 112.2% in the third quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock valued at $30,000 after purchasing an additional 55 shares during the last quarter. Finally, Pacifica Partners Inc. increased its stake in shares of The Cigna Group by 73.2% during the fourth quarter. Pacifica Partners Inc. now owns 142 shares of the health services provider’s stock worth $43,000 after purchasing an additional 60 shares during the period. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO David Cordani sold 38,065 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 329,321 shares of the company’s stock, valued at $110,394,985.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Eric P. Palmer sold 6,083 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $340.00, for a total value of $2,068,220.00. Following the sale, the insider now directly owns 44,649 shares in the company, valued at $15,180,660. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David Cordani sold 38,065 shares of the firm’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 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 three months, insiders have sold 114,144 shares of company stock valued at $39,296,330. 0.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CI has been the topic of a number of research reports. Oppenheimer upped their price objective on The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a report on Friday. Morgan Stanley reaffirmed an “overweight” rating and set a $392.00 price target (up from $382.00) on shares of The Cigna Group in a research report on Monday, March 4th. Wells Fargo & Company increased their target price on shares of The Cigna Group from $334.00 to $348.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. Deutsche Bank Aktiengesellschaft upgraded shares of The Cigna Group from a “hold” rating to a “buy” rating and lifted their price target for the company from $355.00 to $370.00 in a research report on Thursday, February 1st. Finally, Royal Bank of Canada upgraded The Cigna Group from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $327.00 to $354.00 in a research note on Monday, February 5th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $366.14.

The Cigna Group Price Performance

NYSE CI traded down $3.00 during trading on Friday, hitting $341.50. 2,413,548 shares of the company’s stock were exchanged, compared to its average volume of 1,380,653. The stock’s 50 day moving average price is $350.77 and its two-hundred day moving average price is $319.71. The Cigna Group has a fifty-two week low of $240.50 and a fifty-two week high of $365.71. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 0.75. The company has a market cap of $99.84 billion, a PE ratio of 28.04, a P/E/G ratio of 1.05 and a beta of 0.57.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share for the quarter, beating analysts’ consensus estimates of $6.17 by $0.30. The firm had revenue of $57.25 billion for the quarter, compared to analyst estimates of $56.59 billion. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The company’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter last year, the business posted $5.41 earnings per share. Research analysts expect that The Cigna Group will post 28.45 EPS for the current year.

The Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th will be given a $1.40 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $5.60 annualized dividend and a yield of 1.64%. The Cigna Group’s dividend payout ratio is presently 45.98%.

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.