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

Maridea Wealth Management LLC purchased a new stake in The Cigna Group (NYSE:CI) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,243 shares of the health services provider’s stock, valued at approximately $343,000.

Several other large investors have also bought and sold shares of CI. DnB Asset Management AS raised its holdings in shares of The Cigna Group by 6.7% in the fourth quarter. DnB Asset Management AS now owns 130,201 shares of the health services provider’s stock valued at $35,954,000 after purchasing an additional 8,139 shares during the last quarter. Level Four Advisory Services LLC lifted its position in shares of The Cigna Group by 12.1% during the 4th quarter. Level Four Advisory Services LLC now owns 1,941 shares of the health services provider’s stock worth $536,000 after buying an additional 210 shares in the last quarter. Orion Portfolio Solutions LLC boosted its stake in shares of The Cigna Group by 13.2% in the 4th quarter. Orion Portfolio Solutions LLC now owns 44,991 shares of the health services provider’s stock worth $12,424,000 after buying an additional 5,258 shares during the last quarter. Pictet Asset Management Holding SA grew its holdings in shares of The Cigna Group by 31.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 334,686 shares of the health services provider’s stock valued at $92,420,000 after acquiring an additional 79,204 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its position in shares of The Cigna Group by 6.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 112,113 shares of the health services provider’s stock valued at $30,959,000 after acquiring an additional 6,634 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Sanford C. Bernstein downgraded The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective for the company. in a research note on Thursday, February 6th. StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Piper Sandler reaffirmed an “overweight” rating and issued a $348.00 price objective (down previously from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Wells Fargo & Company reduced their target price on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Finally, Morgan Stanley lowered their price target on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $373.25.

The Cigna Group Stock Up 0.1 %

CI stock opened at $324.97 on Friday. The stock has a 50-day simple moving average of $304.67 and a two-hundred day simple moving average of $313.78. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The firm has a market capitalization of $88.94 billion, a PE ratio of 26.55, a PEG ratio of 0.98 and a beta of 0.53. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70.

The Cigna Group (NYSE:CI) last issued 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 firm posted $6.79 EPS. On average, equities analysts predict that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were paid a dividend of $1.51 per share. 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 annualized dividend and a yield of 1.86%. The Cigna Group’s dividend payout ratio (DPR) is currently 49.35%.

Insider Buying and Selling

In other The Cigna Group 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 transaction 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 document filed with the SEC, which is available through this hyperlink. Also, insider Noelle K. Eder sold 9,944 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the completion of the transaction, the insider now directly owns 13,406 shares in the company, valued at $4,289,920. The trade was a 42.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,751 shares of company stock worth $13,603,991 over the last ninety days. 0.70% of the stock is owned by corporate 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.