The Cigna Group (NYSE:CI) Shares Acquired by Benjamin F. Edwards & Company Inc.

Benjamin F. Edwards & Company Inc. increased its holdings in shares of The Cigna Group (NYSE:CI) by 58.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,453 shares of the health services provider’s stock after acquiring an additional 908 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in The Cigna Group were worth $735,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CI. Roman Butler Fullerton & Co. boosted its stake in The Cigna Group by 61.4% during the 4th quarter. Roman Butler Fullerton & Co. now owns 9,307 shares of the health services provider’s stock valued at $2,772,000 after purchasing an additional 3,539 shares during the period. Ellsworth Advisors LLC acquired a new stake in The Cigna Group in the 4th quarter valued at approximately $4,377,000. Sapient Capital LLC bought a new stake in The Cigna Group during the 4th quarter valued at $2,811,000. Allspring Global Investments Holdings LLC boosted its position in The Cigna Group by 29.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 293,438 shares of the health services provider’s stock worth $87,870,000 after acquiring an additional 66,891 shares during the period. Finally, Accurate Wealth Management LLC acquired a new position in The Cigna Group during the 4th quarter worth $2,244,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Trading Up 1.3 %

Shares of CI stock opened at $346.70 on Wednesday. The firm has a market capitalization of $98.49 billion, a P/E ratio of 28.46, a price-to-earnings-growth ratio of 1.04 and a beta of 0.57. The Cigna Group has a 1 year low of $240.50 and a 1 year high of $365.71. The firm’s fifty day simple moving average is $350.89 and its 200 day simple moving average is $320.21. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.75.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share for the quarter, topping analysts’ consensus estimates of $6.17 by $0.30. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The business had revenue of $57.25 billion for the quarter, compared to the consensus estimate of $56.59 billion. During the same period last year, the business earned $5.41 earnings per share. The firm’s revenue for the quarter was up 23.2% compared to the same quarter last year. As a group, sell-side analysts predict that The Cigna Group will post 28.45 EPS for the current year.

The Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th will be paid a $1.40 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.62%. The Cigna Group’s dividend payout ratio is currently 45.98%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Royal Bank of Canada upgraded The Cigna Group from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $327.00 to $354.00 in a research report on Monday, February 5th. Wells Fargo & Company raised their price objective on shares of The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. Barclays began coverage on shares of The Cigna Group in a report on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 target price on the stock. Morgan Stanley restated an “overweight” rating and issued a $392.00 price target (up previously from $382.00) on shares of The Cigna Group in a research report on Monday, March 4th. Finally, Cantor Fitzgerald raised their price objective on The Cigna Group from $384.00 to $400.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. 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 company. According to data from MarketBeat, The Cigna Group presently has a consensus rating of “Buy” and a consensus target price of $366.14.

Insiders Place Their Bets

In related news, insider Eric P. Palmer sold 1,017 shares of The Cigna Group stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $335.26, for a total transaction of $340,959.42. Following the completion of the transaction, the insider now directly owns 45,564 shares of the company’s stock, valued at approximately $15,275,786.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO David Cordani sold 38,065 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $335.22, for a total transaction of $12,760,149.30. Following the sale, the chief executive officer now directly owns 329,321 shares of the company’s stock, valued at $110,394,985.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eric P. Palmer sold 1,017 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $335.26, for a total transaction of $340,959.42. Following the completion of the transaction, the insider now owns 45,564 shares of the company’s stock, valued at approximately $15,275,786.64. The disclosure for this sale can be found here. Insiders sold 109,277 shares of company stock worth $37,687,884 over the last three months. 0.70% of the stock is currently owned by corporate insiders.

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.