King Wealth Management Group Raises Stock Position in The Cigna Group (NYSE:CI)

King Wealth Management Group raised its stake in shares of The Cigna Group (NYSE:CI) by 49.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,276 shares of the health services provider’s stock after acquiring an additional 4,075 shares during the period. King Wealth Management Group’s holdings in The Cigna Group were worth $3,390,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CI. Prospera Private Wealth LLC purchased a new stake in shares of The Cigna Group in the 3rd quarter valued at about $37,000. Collier Financial purchased a new position in shares of The Cigna Group in the 4th quarter valued at about $32,000. ORG Wealth Partners LLC acquired a new stake in shares of The Cigna Group during the 4th quarter valued at approximately $34,000. Compagnie Lombard Odier SCmA purchased a new stake in The Cigna Group during the fourth quarter worth $37,000. Finally, Heck Capital Advisors LLC acquired a new stake in The Cigna Group in the 4th quarter valued at about $53,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Analysts Set New Price Targets

CI has been the subject of a number of analyst reports. Piper Sandler reissued an “overweight” rating and issued a $348.00 price target (down from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. UBS Group reduced their price objective on The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Raymond James reissued a “strong-buy” rating and set a $360.00 price target (down from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Barclays lowered their target price on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Finally, Truist Financial cut their target price on shares of The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $372.31.

The Cigna Group Price Performance

CI opened at $311.61 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. The firm has a market capitalization of $85.28 billion, a PE ratio of 25.46, a P/E/G ratio of 0.98 and a beta of 0.53. The company has a fifty day moving average price of $296.14 and a two-hundred day moving average price of $317.06.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same quarter in the prior year, the company posted $6.79 EPS. As a group, analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be issued a dividend of $1.51 per share. The ex-dividend date is Wednesday, March 5th. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.94%. The Cigna Group’s payout ratio is presently 49.35%.

Insider Buying and Selling

In other The Cigna Group news, CEO David Cordani sold 26,527 shares of The Cigna Group stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $8,173,499.24. Following the completion of the transaction, the chief executive officer now directly owns 127,767 shares of the company’s stock, valued at $39,367,568.04. The trade was a 17.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction, the insider now directly owns 29,421 shares in the company, valued at $9,065,198.52. This trade represents a 14.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,375 shares of company stock valued at $12,866,600. Company insiders own 0.60% of the company’s stock.

The Cigna Group Company 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.