Register Financial Advisors LLC Boosts Stake in The Cigna Group (NYSE:CI)

Register Financial Advisors LLC lifted its holdings in The Cigna Group (NYSE:CI) by 1,600.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 340 shares of the health services provider’s stock after buying an additional 320 shares during the quarter. Register Financial Advisors LLC’s holdings in The Cigna Group were worth $123,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of CI. Fortitude Family Office LLC purchased a new stake in shares of The Cigna Group in the fourth quarter valued at approximately $29,000. VisionPoint Advisory Group LLC boosted its stake in shares of The Cigna Group by 112.2% in the third quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock valued at $30,000 after buying an additional 55 shares in the last quarter. Raleigh Capital Management Inc. boosted its stake in shares of The Cigna Group by 69.5% in the fourth quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock valued at $30,000 after buying an additional 41 shares in the last quarter. Pineridge Advisors LLC purchased a new stake in shares of The Cigna Group in the fourth quarter valued at approximately $37,000. Finally, Pacifica Partners Inc. boosted its position in The Cigna Group by 73.2% during the fourth quarter. Pacifica Partners Inc. now owns 142 shares of the health services provider’s stock worth $43,000 after purchasing an additional 60 shares in the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

The Cigna Group Stock Performance

CI traded down $3.84 during trading hours on Friday, hitting $330.31. The company’s stock had a trading volume of 2,645,258 shares, compared to its average volume of 1,622,902. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $365.71. 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 firm has a market capitalization of $93.83 billion, a PE ratio of 27.12, a PEG ratio of 1.03 and a beta of 0.53. The company has a 50-day simple moving average of $341.23 and a 200 day simple moving average of $332.90.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.17 by $0.30. The company had revenue of $57.25 billion for the quarter, compared to analysts’ expectations of $56.59 billion. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The firm’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period last year, the firm earned $5.41 EPS. As a group, sell-side analysts expect that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th were given a $1.40 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.70%. The Cigna Group’s dividend payout ratio (DPR) is presently 45.98%.

Analyst Upgrades and Downgrades

CI has been the topic of a number of research analyst reports. Oppenheimer boosted their target price on The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. JPMorgan Chase & Co. boosted their target price on The Cigna Group from $432.00 to $435.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Robert W. Baird began coverage on The Cigna Group in a research report on Thursday, May 30th. They set an “outperform” rating and a $388.00 target price on the stock. Morgan Stanley restated an “overweight” rating and issued a $392.00 price objective (up from $382.00) on shares of The Cigna Group in a research report on Monday, March 4th. Finally, Barclays began coverage on The Cigna Group in a research report on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $376.20.

Insider Transactions at The Cigna Group

In related 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 sale, the insider now owns 15,824 shares of the company’s stock, valued at $5,514,189.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of The Cigna Group stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $348.71, for a total transaction of $2,073,429.66. Following the sale, the senior vice president now directly owns 2,595 shares of the company’s stock, valued at $904,902.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Noelle K. Eder sold 10,700 shares of The Cigna Group stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $348.47, for a total value 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 disclosure for this sale can be found here. Insiders sold a total of 22,988 shares of company stock valued at $7,975,726 over the last quarter. Company insiders own 0.60% of the company’s stock.

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.