Sequoia Financial Advisors LLC Increases Position in The Cigna Group (NYSE:CI)

Sequoia Financial Advisors LLC increased its holdings in shares of The Cigna Group (NYSE:CI) by 81.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,113 shares of the health services provider’s stock after buying an additional 2,291 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in The Cigna Group were worth $1,531,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bogart Wealth LLC lifted its position in The Cigna Group by 104.5% during the 3rd quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock worth $26,000 after acquiring an additional 46 shares during the period. OFI Invest Asset Management acquired a new stake in The Cigna Group during the 3rd quarter worth about $26,000. Fairfield Bush & CO. acquired a new stake in The Cigna Group during the 2nd quarter worth about $28,000. Fortitude Family Office LLC acquired a new stake in The Cigna Group during the 4th quarter worth about $29,000. Finally, Optimum Investment Advisors lifted its position in The Cigna Group by 110.0% during the 3rd quarter. Optimum Investment Advisors now owns 105 shares of the health services provider’s stock worth $30,000 after acquiring an additional 55 shares during the period. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the completion of the transaction, the senior vice president now owns 2,102 shares of the company’s stock, valued at $694,668.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the completion of the transaction, the senior vice president now owns 2,102 shares of the company’s stock, valued at $694,668.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David Cordani sold 31,209 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $355.17, for a total value of $11,084,500.53. Following the transaction, the chief executive officer now directly owns 348,054 shares of the company’s stock, valued at approximately $123,618,339.18. The disclosure for this sale can be found here. Insiders sold 114,144 shares of company stock valued at $39,296,330 over the last quarter. 0.60% of the stock is currently owned by insiders.

The Cigna Group Stock Performance

Shares of CI stock opened at $349.84 on Friday. The company has a market capitalization of $102.28 billion, a P/E ratio of 20.12, a P/E/G ratio of 1.08 and a beta of 0.56. The business’s 50 day moving average is $346.49 and its two-hundred day moving average is $313.56. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.61. 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 issued its quarterly earnings results on Friday, February 2nd. The health services provider reported $6.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.54 by $0.25. The company had revenue of $51.15 billion for the quarter, compared to the consensus estimate of $48.91 billion. The Cigna Group had a return on equity of 13.59% and a net margin of 2.64%. The Cigna Group’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.96 earnings per share. Analysts expect that The Cigna Group will post 28.36 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th were given a dividend of $1.40 per share. The ex-dividend date was Tuesday, March 5th. This represents a $5.60 dividend on an annualized basis and a yield of 1.60%. This is an increase from The Cigna Group’s previous quarterly dividend of $1.23. The Cigna Group’s dividend payout ratio is currently 32.20%.

Analyst Ratings Changes

A number of brokerages have commented on CI. Royal Bank of Canada raised The Cigna Group from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $327.00 to $354.00 in a research report on Monday, February 5th. Wells Fargo & Company boosted their price objective on The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. Mizuho boosted their price objective on The Cigna Group from $360.00 to $370.00 and gave the company a “buy” rating in a report on Monday, February 5th. Deutsche Bank Aktiengesellschaft raised The Cigna Group from a “hold” rating to a “buy” rating and boosted their price objective for the company from $355.00 to $370.00 in a report on Thursday, February 1st. Finally, Sanford C. Bernstein raised The Cigna Group from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $330.00 to $372.00 in a report on Thursday, January 4th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $362.14.

The Cigna Group Company 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.