Demars Financial Group LLC Has $635,000 Stock Position in The Cigna Group (NYSE:CI)

Demars Financial Group LLC reduced its holdings in The Cigna Group (NYSE:CI) by 82.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,121 shares of the health services provider’s stock after selling 10,169 shares during the quarter. The Cigna Group makes up approximately 0.3% of Demars Financial Group LLC’s holdings, making the stock its 29th largest holding. Demars Financial Group LLC’s holdings in The Cigna Group were worth $635,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of CI. Parnassus Investments LLC acquired a new position in shares of The Cigna Group in the 3rd quarter worth approximately $731,041,000. FMR LLC lifted its holdings in The Cigna Group by 13.8% during the 3rd quarter. FMR LLC now owns 15,967,363 shares of the health services provider’s stock worth $4,567,783,000 after buying an additional 1,939,554 shares in the last quarter. Cerity Partners LLC lifted its holdings in The Cigna Group by 1,039.4% during the 4th quarter. Cerity Partners LLC now owns 590,063 shares of the health services provider’s stock worth $176,694,000 after buying an additional 538,274 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in The Cigna Group by 3.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,833,753 shares of the health services provider’s stock valued at $3,385,282,000 after buying an additional 345,605 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in The Cigna Group by 127.3% in the 4th quarter. Jennison Associates LLC now owns 566,233 shares of the health services provider’s stock valued at $169,558,000 after buying an additional 317,081 shares during the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

The Cigna Group Price Performance

CI stock opened at $352.70 on Wednesday. The stock has a 50-day moving average price of $349.03 and a two-hundred day moving average price of $316.84. The stock has a market cap of $103.12 billion, a PE ratio of 20.28, a price-to-earnings-growth ratio of 1.08 and a beta of 0.56. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.61. The Cigna Group has a 1 year low of $240.50 and a 1 year high of $365.71.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Friday, February 2nd. The health services provider reported $6.79 earnings per share for the quarter, beating the consensus estimate of $6.54 by $0.25. The company had revenue of $51.15 billion during the quarter, compared to analysts’ expectations of $48.91 billion. The Cigna Group had a return on equity of 13.59% and a net margin of 2.64%. The Cigna Group’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter last year, the company earned $4.96 EPS. Equities analysts forecast that The Cigna Group will post 28.36 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th were issued a $1.40 dividend. This is a boost from The Cigna Group’s previous quarterly dividend of $1.23. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $5.60 annualized dividend and a dividend yield of 1.59%. The Cigna Group’s dividend payout ratio (DPR) is presently 32.20%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Oppenheimer reiterated an “outperform” rating and issued a $360.00 price objective on shares of The Cigna Group in a research report on Wednesday, January 17th. Deutsche Bank Aktiengesellschaft upgraded The Cigna Group from a “hold” rating to a “buy” rating and increased their price objective for the company from $355.00 to $370.00 in a research report on Thursday, February 1st. Royal Bank of Canada upgraded The Cigna Group from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $327.00 to $354.00 in a research report on Monday, February 5th. Cantor Fitzgerald reissued an “overweight” rating and issued a $384.00 price target on shares of The Cigna Group in a research note on Wednesday, April 10th. Finally, Sanford C. Bernstein raised The Cigna Group from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $330.00 to $372.00 in a research note on Thursday, January 4th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, The Cigna Group currently has an average rating of “Buy” and an average target price of $362.14.

Insider Activity

In other news, CEO David Cordani sold 38,065 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $335.22, for a total value of $12,760,149.30. Following the completion of the transaction, the chief executive officer now owns 329,321 shares in the company, valued at approximately $110,394,985.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Eric P. Palmer sold 1,017 shares of The Cigna Group stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $335.26, for a total transaction of $340,959.42. Following the completion of the transaction, the insider now owns 45,564 shares in the company, valued at $15,275,786.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David Cordani sold 38,065 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $335.22, for a total transaction of $12,760,149.30. Following the sale, the chief executive officer now owns 329,321 shares of the company’s stock, valued at $110,394,985.62. The disclosure for this sale can be found here. Insiders sold 114,144 shares of company stock worth $39,296,330 in the last quarter. Corporate insiders own 0.70% of the company’s stock.

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.