Mosaic Family Wealth Partners LLC Makes New $466,000 Investment in The Cigna Group (NYSE:CI)

Mosaic Family Wealth Partners LLC purchased a new position in The Cigna Group (NYSE:CI) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,284 shares of the health services provider’s stock, valued at approximately $466,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Pinnacle Associates Ltd. grew its position in The Cigna Group by 4.6% during the 4th quarter. Pinnacle Associates Ltd. now owns 4,025 shares of the health services provider’s stock worth $1,205,000 after purchasing an additional 177 shares in the last quarter. Howland Capital Management LLC grew its position in The Cigna Group by 6.2% during the 4th quarter. Howland Capital Management LLC now owns 1,653 shares of the health services provider’s stock worth $495,000 after purchasing an additional 97 shares in the last quarter. StrategIQ Financial Group LLC grew its position in The Cigna Group by 20.7% during the 4th quarter. StrategIQ Financial Group LLC now owns 2,538 shares of the health services provider’s stock worth $760,000 after purchasing an additional 436 shares in the last quarter. Trust Point Inc. purchased a new position in The Cigna Group during the 4th quarter worth approximately $586,000. Finally, WealthShield Partners LLC purchased a new position in The Cigna Group during the 4th quarter worth approximately $201,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analysts Set New Price Targets

CI has been the topic of several research analyst reports. StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Friday. Barclays boosted their price target on shares of The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a report on Friday. Oppenheimer boosted their price target on shares of The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Baird R W upgraded shares of The Cigna Group to a “strong-buy” rating in a report on Thursday, May 30th. Finally, JPMorgan Chase & Co. boosted their price target on shares of The Cigna Group from $432.00 to $435.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, The Cigna Group has a consensus rating of “Buy” and an average target price of $379.06.

The Cigna Group Price Performance

Shares of The Cigna Group stock traded up $4.73 during trading on Friday, reaching $337.33. The company’s stock had a trading volume of 3,193,740 shares, compared to its average volume of 1,247,865. The stock has a market capitalization of $95.83 billion, a P/E ratio of 27.70, a price-to-earnings-growth ratio of 1.02 and a beta of 0.52. The Cigna Group has a one year low of $253.95 and a one year 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 0.73. The stock has a 50-day moving average price of $335.80 and a two-hundred day moving average price of $338.95.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.42 by $0.30. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The company had revenue of $60.52 billion for the quarter, compared to analysts’ expectations of $58.30 billion. During the same quarter in the prior year, the business posted $6.13 EPS. The business’s revenue was up 24.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Cigna Group will post 28.4 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.66%. The ex-dividend date is Wednesday, September 4th. The Cigna Group’s dividend payout ratio (DPR) is currently 45.98%.

Insider Transactions at The Cigna Group

In related news, insider Brian C. Evanko sold 4,795 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $345.01, for a total value of $1,654,322.95. Following the sale, the insider now directly owns 39,923 shares of the company’s stock, valued at $13,773,834.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Brian C. Evanko sold 4,795 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the completion of the transaction, the insider now directly owns 39,923 shares in the company, valued at $13,773,834.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Elder Granger sold 1,000 shares of The Cigna Group stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $338.08, for a total value of $338,080.00. Following the completion of the sale, the director now owns 5,471 shares of the company’s stock, valued at $1,849,635.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,988 shares of company stock valued at $7,975,726. 0.60% of the stock is 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.