Hennion & Walsh Asset Management Inc. Increases Stake in The Cigna Group (NYSE:CI)

Hennion & Walsh Asset Management Inc. increased its position in shares of The Cigna Group (NYSE:CI) by 13.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,212 shares of the health services provider’s stock after buying an additional 144 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in The Cigna Group were worth $399,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CI. Moody National Bank Trust Division increased its position in shares of The Cigna Group by 0.7% during the first quarter. Moody National Bank Trust Division now owns 4,587 shares of the health services provider’s stock worth $1,509,000 after purchasing an additional 34 shares in the last quarter. Kesler Norman & Wride LLC increased its position in shares of The Cigna Group by 1.8% during the fourth quarter. Kesler Norman & Wride LLC now owns 2,033 shares of the health services provider’s stock worth $562,000 after purchasing an additional 35 shares in the last quarter. Hudson Edge Investment Partners Inc. increased its position in shares of The Cigna Group by 1.9% during the fourth quarter. Hudson Edge Investment Partners Inc. now owns 1,883 shares of the health services provider’s stock worth $520,000 after purchasing an additional 36 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its position in shares of The Cigna Group by 2.3% during the first quarter. Fifth Third Wealth Advisors LLC now owns 1,626 shares of the health services provider’s stock worth $535,000 after purchasing an additional 36 shares in the last quarter. Finally, Meridian Wealth Management LLC increased its position in shares of The Cigna Group by 1.0% during the fourth quarter. Meridian Wealth Management LLC now owns 3,670 shares of the health services provider’s stock worth $1,013,000 after purchasing an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Insider Buying and Selling

In related news, Director Elder Granger sold 2,376 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $310.35, for a total transaction of $737,391.60. Following the transaction, the director now owns 5,471 shares of the company’s stock, valued at approximately $1,697,924.85. This represents a 30.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.70% of the stock is owned by corporate insiders.

The Cigna Group Stock Performance

Shares of The Cigna Group stock opened at $311.68 on Monday. The business’s fifty day simple moving average is $323.39 and its 200-day simple moving average is $308.90. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70. The firm has a market cap of $83.26 billion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 0.98 and a beta of 0.44.

The Cigna Group (NYSE:CI) last posted its earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.35 by $0.39. The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. The firm had revenue of $65.45 billion for the quarter, compared to analyst estimates of $60.39 billion. During the same quarter in the prior year, the company earned $6.47 EPS. The Cigna Group’s revenue was up 14.4% on a year-over-year basis. Equities analysts forecast that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be paid a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.94%. The ex-dividend date is Tuesday, June 3rd. The Cigna Group’s payout ratio is 33.44%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CI. Truist Financial upped their target price on The Cigna Group from $385.00 to $405.00 and gave the company a “buy” rating in a report on Monday, May 12th. Mizuho upped their target price on The Cigna Group from $360.00 to $384.00 and gave the company an “outperform” rating in a report on Wednesday, April 9th. Robert W. Baird dropped their target price on The Cigna Group from $388.00 to $362.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. Barclays restated an “overweight” rating and issued a $385.00 target price (up from $382.00) on shares of The Cigna Group in a report on Monday, June 2nd. Finally, Wall Street Zen upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 8th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $380.39.

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.