Naviter Wealth LLC Boosts Stock Holdings in The Cigna Group (NYSE:CI)

Naviter Wealth LLC grew its stake in shares of The Cigna Group (NYSE:CI) by 25.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 3,138 shares of the health services provider’s stock after buying an additional 644 shares during the quarter. Naviter Wealth LLC’s holdings in The Cigna Group were worth $940,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In related news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the completion of the transaction, the senior vice president now directly owns 2,102 shares in the company, valued at approximately $694,668.96. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of The Cigna Group stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total value of $1,608,446.16. Following the sale, the senior vice president now directly owns 2,102 shares in the company, valued at approximately $694,668.96. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO David Cordani sold 31,209 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $355.17, for a total transaction of $11,084,500.53. Following the transaction, the chief executive officer now directly owns 348,054 shares of the company’s stock, valued at $123,618,339.18. The disclosure for this sale can be found here. Insiders have sold 114,144 shares of company stock valued at $39,296,330 over the last quarter. Insiders own 0.70% of the company’s stock.

The Cigna Group Price Performance

CI stock opened at $356.44 on Tuesday. The company has a market capitalization of $104.21 billion, a PE ratio of 20.50, a P/E/G ratio of 1.09 and a beta of 0.56. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The stock’s 50 day moving average is $350.19 and its two-hundred day moving average is $318.58. The Cigna Group has a 52-week low of $240.50 and a 52-week high of $365.71.

The Cigna Group (NYSE:CI) last released its earnings results on Friday, February 2nd. The health services provider reported $6.79 earnings per share for the quarter, topping the consensus estimate of $6.54 by $0.25. The company had revenue of $51.15 billion during the quarter, compared to the consensus estimate of $48.91 billion. The Cigna Group had a net margin of 2.64% and a return on equity of 13.59%. The company’s revenue was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.96 EPS. Analysts predict that The Cigna Group will post 28.36 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Tuesday, June 4th will be paid a dividend of $1.40 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $5.60 annualized dividend and a yield of 1.57%. The Cigna Group’s dividend payout ratio (DPR) is 32.20%.

Wall Street Analysts Forecast Growth

CI has been the topic of a number of recent research reports. Oppenheimer reaffirmed an “outperform” rating and set a $360.00 price target on shares of The Cigna Group in a research report on Wednesday, January 17th. Mizuho lifted their target price on shares of The Cigna Group from $360.00 to $370.00 and gave the company a “buy” rating in a report on Monday, February 5th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $384.00 price target on shares of The Cigna Group in a report on Wednesday, April 10th. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 14th. Finally, Wells Fargo & Company raised their target price on The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $362.14.

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.