Level Four Advisory Services LLC Raises Stake in The Cigna Group (NYSE:CI)

Level Four Advisory Services LLC grew its position in The Cigna Group (NYSE:CI) by 12.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,941 shares of the health services provider’s stock after purchasing an additional 210 shares during the quarter. Level Four Advisory Services LLC’s holdings in The Cigna Group were worth $536,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. CreativeOne Wealth LLC boosted its stake in The Cigna Group by 3.0% in the third quarter. CreativeOne Wealth LLC now owns 1,219 shares of the health services provider’s stock valued at $422,000 after acquiring an additional 35 shares in the last quarter. Public Sector Pension Investment Board grew its stake in The Cigna Group by 5.5% during the 3rd quarter. Public Sector Pension Investment Board now owns 11,603 shares of the health services provider’s stock worth $4,020,000 after buying an additional 600 shares during the last quarter. Captrust Financial Advisors increased its position in The Cigna Group by 21.9% during the third quarter. Captrust Financial Advisors now owns 29,272 shares of the health services provider’s stock worth $10,141,000 after buying an additional 5,262 shares during the period. Erste Asset Management GmbH purchased a new stake in The Cigna Group in the third quarter valued at approximately $17,630,000. Finally, Kestra Investment Management LLC boosted its holdings in shares of The Cigna Group by 51.7% in the third quarter. Kestra Investment Management LLC now owns 2,016 shares of the health services provider’s stock valued at $698,000 after acquiring an additional 687 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

Insider Activity

In other The Cigna Group news, CEO David Cordani sold 26,527 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the sale, the chief executive officer now owns 127,767 shares in the company, valued at approximately $39,367,568.04. This represents a 17.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nicole S. Jones sold 4,904 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $1,511,020.48. Following the transaction, the insider now directly owns 29,421 shares of the company’s stock, valued at $9,065,198.52. The trade was a 14.29 % 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 90 days. 0.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently commented on the stock. Wells Fargo & Company reduced their price target 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. Piper Sandler reiterated an “overweight” rating and set a $348.00 target price (down previously from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. UBS Group dropped their price target on The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Truist Financial decreased their price objective on The Cigna Group from $390.00 to $375.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. Finally, Oppenheimer lowered their target price on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a research note on Friday, January 31st. Two 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 stock. According to data from MarketBeat, The Cigna Group presently has a consensus rating of “Buy” and an average target price of $373.25.

The Cigna Group Stock Up 1.3 %

Shares of NYSE CI opened at $329.33 on Tuesday. 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 firm has a 50-day moving average price of $305.58 and a 200 day moving average price of $313.24. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. The stock has a market capitalization of $90.13 billion, a price-to-earnings ratio of 26.91, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 last year, the company earned $6.79 EPS. Equities research analysts anticipate that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were issued a $1.51 dividend. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $6.04 annualized dividend and a yield of 1.83%. The Cigna Group’s dividend payout ratio is 49.35%.

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.