Facet Wealth Inc. Has $231,000 Stock Position in The Cigna Group (NYSE:CI)

Facet Wealth Inc. raised its stake in The Cigna Group (NYSE:CI) by 6.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 806 shares of the health services provider’s stock after acquiring an additional 48 shares during the quarter. Facet Wealth Inc.’s holdings in The Cigna Group were worth $231,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Collier Financial acquired a new stake in The Cigna Group in the 4th quarter valued at about $32,000. ORG Wealth Partners LLC acquired a new stake in The Cigna Group in the 4th quarter valued at about $34,000. Prospera Private Wealth LLC acquired a new stake in The Cigna Group in the 3rd quarter valued at about $37,000. Compagnie Lombard Odier SCmA acquired a new stake in The Cigna Group in the 4th quarter valued at about $37,000. Finally, Heck Capital Advisors LLC acquired a new stake in The Cigna Group in the 4th quarter valued at about $53,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Stock Up 0.4 %

The Cigna Group stock opened at $313.35 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The company’s 50 day simple moving average is $296.79 and its 200 day simple moving average is $316.52. The firm has a market capitalization of $85.76 billion, a price-to-earnings ratio of 25.60, a PEG ratio of 0.98 and a beta of 0.53.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing analysts’ consensus estimates of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same quarter in the prior year, the business posted $6.79 earnings per share. As a group, sell-side analysts anticipate that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be paid a $1.51 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a yield of 1.93%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s payout ratio is presently 49.35%.

Insider Buying and Selling at The Cigna Group

In other news, insider Noelle K. Eder sold 9,944 shares of The Cigna Group stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $320.00, for a total value of $3,182,080.00. Following the sale, the insider now directly owns 13,406 shares in the company, valued at $4,289,920. This trade represents a 42.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicole S. Jones sold 4,904 shares of The Cigna Group stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the completion of the sale, the insider now owns 29,421 shares in the company, valued at $9,065,198.52. This trade represents a 14.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,375 shares of company stock valued at $12,866,600. 0.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CI has been the subject of several research reports. StockNews.com upgraded shares of The Cigna Group from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Royal Bank of Canada set a $355.00 target price on shares of The Cigna Group in a research note on Friday, January 31st. Raymond James reaffirmed a “strong-buy” rating and issued a $360.00 target price (down previously from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Barclays reduced their target price on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Finally, Sanford C. Bernstein lowered shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 target price on the stock. in a research note on Thursday, February 6th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $372.31.

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.