IFG Advisors LLC Invests $230,000 in The Cigna Group (NYSE:CI)

IFG Advisors LLC purchased a new position in shares of The Cigna Group (NYSE:CI) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 699 shares of the health services provider’s stock, valued at approximately $230,000.

Several other hedge funds have also made changes to their positions in the business. Moody National Bank Trust Division increased its position in shares of The Cigna Group by 0.7% in the first quarter. Moody National Bank Trust Division now owns 4,587 shares of the health services provider’s stock valued at $1,509,000 after buying an additional 34 shares in the last quarter. Kesler Norman & Wride LLC increased its position in shares of The Cigna Group by 1.8% in the fourth quarter. Kesler Norman & Wride LLC now owns 2,033 shares of the health services provider’s stock valued at $562,000 after buying 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% in the fourth quarter. Hudson Edge Investment Partners Inc. now owns 1,883 shares of the health services provider’s stock valued at $520,000 after buying an additional 36 shares in the last quarter. Meridian Wealth Management LLC increased its position in shares of The Cigna Group by 1.0% in the fourth quarter. Meridian Wealth Management LLC now owns 3,670 shares of the health services provider’s stock valued at $1,013,000 after buying an additional 37 shares in the last quarter. Finally, Mindset Wealth Management LLC increased its position in shares of The Cigna Group by 2.6% in the fourth quarter. Mindset Wealth Management LLC now owns 1,469 shares of the health services provider’s stock valued at $406,000 after buying an additional 37 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on CI shares. Mizuho raised their price target on The Cigna Group from $360.00 to $384.00 and gave the company an “outperform” rating in a research report on Wednesday, April 9th. Barclays raised their price target on The Cigna Group from $339.00 to $382.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. Morgan Stanley raised their price target on The Cigna Group from $379.00 to $390.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. Cowen reiterated a “buy” rating on shares of The Cigna Group in a research report on Monday, May 5th. Finally, Guggenheim reiterated a “buy” rating and set a $388.00 price objective on shares of The Cigna Group in a research report on Friday, May 23rd. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, The Cigna Group presently has an average rating of “Buy” and a consensus price target of $379.33.

Insiders Place Their Bets

In other news, Director Elder Granger sold 2,376 shares of The Cigna Group stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $310.35, for a total value of $737,391.60. Following the transaction, the director now directly owns 5,471 shares of the company’s stock, valued at $1,697,924.85. The trade was a 30.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO David Cordani sold 26,527 shares of The Cigna Group stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $8,173,499.24. Following the completion of the transaction, the chief executive officer now directly owns 127,767 shares in the company, valued at $39,367,568.04. This represents a 17.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,751 shares of company stock valued at $13,603,991. Insiders own 0.70% of the company’s stock.

The Cigna Group Stock Up 1.3%

Shares of NYSE:CI opened at $316.05 on Friday. The stock’s 50-day moving average price is $324.83 and its two-hundred day moving average price is $309.58. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The firm has a market cap of $84.43 billion, a price-to-earnings ratio of 25.82, a PEG ratio of 0.98 and a beta of 0.47.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 period last year, the company earned $6.47 EPS. The firm’s quarterly revenue was up 14.4% on a year-over-year basis. On average, research analysts forecast that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be paid a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend is Tuesday, June 3rd. The Cigna Group’s payout ratio is 33.44%.

About The Cigna Group

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.