Transform Wealth LLC Purchases Shares of 760 The Cigna Group (NYSE:CI)

Posted by on Mar 23rd, 2023

Transform Wealth LLC purchased a new stake in shares of The Cigna Group (NYSE:CI – Get Rating) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 760 shares of the health services provider’s stock, valued at approximately $252,000.

Other large investors have also added to or reduced their stakes in the company. Householder Group Estate & Retirement Specialist LLC acquired a new position in shares of The Cigna Group in the 3rd quarter valued at about $34,000. RFG Advisory LLC lifted its holdings in shares of The Cigna Group by 13.0% in the 2nd quarter. RFG Advisory LLC now owns 1,697 shares of the health services provider’s stock valued at $478,000 after buying an additional 195 shares during the period. Sigma Planning Corp lifted its holdings in shares of The Cigna Group by 1.4% in the 3rd quarter. Sigma Planning Corp now owns 4,711 shares of the health services provider’s stock valued at $1,307,000 after buying an additional 65 shares during the period. Massmutual Trust Co. FSB ADV lifted its holdings in shares of The Cigna Group by 2.0% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 16,561 shares of the health services provider’s stock valued at $5,487,000 after buying an additional 319 shares during the period. Finally, Creative Planning lifted its holdings in shares of The Cigna Group by 3.7% in the 2nd quarter. Creative Planning now owns 33,692 shares of the health services provider’s stock valued at $8,879,000 after buying an additional 1,196 shares during the period. Hedge funds and other institutional investors own 87.61% of the company’s stock.

The Cigna Group Price Performance

CI stock opened at $270.44 on Thursday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.70 and a quick ratio of 0.70. The business has a 50 day simple moving average of $294.54 and a 200-day simple moving average of $304.28. The firm has a market capitalization of $80.34 billion, a PE ratio of 12.65, a price-to-earnings-growth ratio of 0.96 and a beta of 0.67. The Cigna Group has a 1 year low of $238.48 and a 1 year high of $340.11.

The Cigna Group (NYSE:CI – Get Rating) last issued its quarterly earnings data on Friday, February 3rd. The health services provider reported $4.96 earnings per share for the quarter, topping the consensus estimate of $4.84 by $0.12. The company had revenue of $45.75 billion during the quarter, compared to analyst estimates of $45.79 billion. The Cigna Group had a return on equity of 16.01% and a net margin of 3.69%. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the prior year, the business posted $4.77 earnings per share. Equities research analysts anticipate that The Cigna Group will post 24.92 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 23rd. Investors of record on Wednesday, March 8th will be given a $1.23 dividend. This represents a $4.92 annualized dividend and a yield of 1.82%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.12. The ex-dividend date is Tuesday, March 7th. The Cigna Group’s dividend payout ratio is presently 23.01%.

Insider Buying and Selling

In related news, CEO David Cordani sold 20,148 shares of the stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $294.06, for a total value of $5,924,720.88. Following the completion of the transaction, the chief executive officer now directly owns 120,496 shares in the company, valued at $35,433,053.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other The Cigna Group news, CEO David Cordani sold 20,148 shares of the company’s stock in a transaction on Monday, February 27th. The stock was sold at an average price of $294.06, for a total transaction of $5,924,720.88. Following the transaction, the chief executive officer now directly owns 120,496 shares in the company, valued at $35,433,053.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Donna F. Zarcone sold 2,088 shares of the company’s stock in a transaction on Friday, March 10th. The stock was sold at an average price of $271.67, for a total value of $567,246.96. Following the transaction, the director now owns 25,550 shares in the company, valued at $6,941,168.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,752 shares of company stock worth $8,008,479. Company insiders own 0.80% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Wells Fargo & Company cut The Cigna Group from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $370.00 to $355.00 in a report on Tuesday, January 3rd. Morgan Stanley upped their price target on The Cigna Group from $347.00 to $365.00 and gave the stock an “overweight” rating in a report on Friday, January 6th. Deutsche Bank Aktiengesellschaft reduced their price target on The Cigna Group from $359.00 to $348.00 in a report on Wednesday, February 8th. Raymond James reduced their price target on The Cigna Group from $370.00 to $350.00 and set an “outperform” rating for the company in a report on Tuesday, February 7th. Finally, StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 15th. Seven research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, The Cigna Group currently has an average rating of “Moderate Buy” and a consensus price target of $339.00.

About The Cigna Group

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The Cigna Group is engaged in the provision of global health services. It operates through the following segments: Evernorth, U.S. Medical, International Markets, and Group Disability and Other. The Evernorth segment includes a broad range of coordinated and point solution health services, including pharmacy solutions, benefits management solutions, care solutions and intelligence solutions.

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Institutional Ownership by Quarter for The Cigna Group (NYSE:CI)

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