First Affirmative Financial Network Lowers Position in The Cigna Group (NYSE:CI)

First Affirmative Financial Network lowered its holdings in The Cigna Group (NYSE:CI) by 13.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,489 shares of the health services provider’s stock after selling 229 shares during the period. First Affirmative Financial Network’s holdings in The Cigna Group were worth $541,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Seizert Capital Partners LLC raised its holdings in shares of The Cigna Group by 195.8% in the 4th quarter. Seizert Capital Partners LLC now owns 32,150 shares of the health services provider’s stock valued at $9,627,000 after acquiring an additional 21,280 shares in the last quarter. Roman Butler Fullerton & Co. raised its holdings in shares of 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 buying an additional 3,539 shares in the last quarter. TFO Wealth Partners LLC raised its holdings in shares of The Cigna Group by 98,980.0% during the 4th quarter. TFO Wealth Partners LLC now owns 4,954 shares of the health services provider’s stock valued at $1,497,000 after buying an additional 4,949 shares in the last quarter. Ellsworth Advisors LLC purchased a new position in shares of The Cigna Group during the 4th quarter valued at about $4,377,000. Finally, Sapient Capital LLC purchased a new position in shares of The Cigna Group during the 4th quarter valued at about $2,811,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on CI. Robert W. Baird began coverage on The Cigna Group in a report on Thursday, May 30th. They set an “outperform” rating and a $388.00 price objective on the stock. Baird R W raised The Cigna Group to a “strong-buy” rating in a report on Thursday, May 30th. StockNews.com lowered The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 12th. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a research report on Wednesday, June 12th. Finally, Morgan Stanley restated an “overweight” rating and set a $392.00 price target (up from $382.00) on shares of The Cigna Group in a research report on Monday, March 4th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $374.50.

Insider Activity at The Cigna Group

In related news, insider Noelle K. Eder sold 10,700 shares of The Cigna Group stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $348.47, for a total transaction of $3,728,629.00. Following the sale, the insider now directly owns 15,824 shares in the company, valued at $5,514,189.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other The Cigna Group news, insider Noelle K. Eder sold 10,700 shares of The Cigna Group stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $348.47, for a total transaction of $3,728,629.00. Following the completion of the transaction, the insider now owns 15,824 shares in the company, valued at $5,514,189.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Elder Granger sold 547 shares of The Cigna Group stock in a transaction on Monday, June 17th. The shares were sold at an average price of $331.38, for a total value of $181,264.86. Following the transaction, the director now owns 5,471 shares of the company’s stock, valued at approximately $1,812,979.98. The disclosure for this sale can be found here. Insiders have sold 49,402 shares of company stock worth $17,405,904 over the last ninety days. 0.60% of the stock is owned by corporate insiders.

The Cigna Group Trading Up 0.6 %

Shares of CI stock traded up $2.10 during trading hours on Friday, reaching $339.98. The company’s stock had a trading volume of 4,076,118 shares, compared to its average volume of 1,506,412. 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 has a one year low of $253.95 and a one year high of $365.71. The stock has a market capitalization of $96.58 billion, a P/E ratio of 27.91, a P/E/G ratio of 1.03 and a beta of 0.53. The firm’s fifty day simple moving average is $342.40 and its 200 day simple moving average is $330.47.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $57.25 billion for the quarter, compared to analyst estimates of $56.59 billion. During the same period in the previous year, the company posted $5.41 earnings per share. The firm’s revenue was up 23.2% on a year-over-year basis. Equities research analysts expect that The Cigna Group will post 28.47 EPS for the current year.

The Cigna Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Tuesday, June 4th were given a dividend of $1.40 per share. The ex-dividend date was Tuesday, June 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.65%. The Cigna Group’s dividend payout ratio is presently 45.98%.

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.