Maridea Wealth Management LLC Takes Position in The Cigna Group (NYSE:CI)

Maridea Wealth Management LLC bought a new position in The Cigna Group (NYSE:CI) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 1,243 shares of the health services provider’s stock, valued at approximately $343,000.

Several other hedge funds have also added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of The Cigna Group in the fourth quarter worth about $867,785,000. Raymond James Financial Inc. bought a new stake in The Cigna Group in the fourth quarter valued at approximately $313,911,000. GQG Partners LLC boosted its stake in shares of The Cigna Group by 22.4% during the fourth quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider’s stock valued at $1,110,520,000 after purchasing an additional 737,099 shares during the period. Amundi increased its stake in shares of The Cigna Group by 19.9% in the fourth quarter. Amundi now owns 2,254,050 shares of the health services provider’s stock worth $628,579,000 after buying an additional 374,865 shares during the period. Finally, Swedbank AB raised its holdings in The Cigna Group by 55.1% during the 4th quarter. Swedbank AB now owns 884,406 shares of the health services provider’s stock valued at $244,220,000 after buying an additional 314,123 shares during the last quarter. 86.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Wells Fargo & Company decreased their price objective on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. UBS Group lowered their price target on The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Raymond James reiterated a “strong-buy” rating and issued a $360.00 price objective (down from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Royal Bank of Canada set a $355.00 price target on The Cigna Group in a research note on Friday, January 31st. Finally, Cantor Fitzgerald upped their price objective on shares of The Cigna Group from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Thursday, March 20th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, The Cigna Group has an average rating of “Buy” and a consensus target price of $373.25.

The Cigna Group Stock Up 0.1 %

Shares of NYSE:CI opened at $324.97 on Friday. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The stock has a market capitalization of $88.94 billion, a price-to-earnings ratio of 26.55, a PEG ratio of 0.98 and a beta of 0.53. The stock has a fifty day simple moving average of $304.67 and a two-hundred day simple moving average of $313.78. 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 (NYSE:CI) last announced its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing the consensus estimate 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 previous year, the company earned $6.79 EPS. On average, research analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were issued a $1.51 dividend. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date was Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.86%. The Cigna Group’s dividend payout ratio (DPR) is presently 49.35%.

Insider Transactions at The Cigna Group

In other news, 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 value of $1,511,020.48. Following the completion of the sale, the insider now directly owns 29,421 shares in the company, valued at $9,065,198.52. The trade was a 14.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Elder Granger sold 2,376 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were 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 in the company, valued at approximately $1,697,924.85. This trade represents a 30.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,751 shares of company stock worth $13,603,991 over the last quarter. 0.70% of the stock is currently owned by insiders.

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.