Legacy Financial Advisors Inc. Purchases 37 Shares of The Cigna Group (NYSE:CI)

Legacy Financial Advisors Inc. grew its position in shares of The Cigna Group (NYSE:CI) by 3.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,250 shares of the health services provider’s stock after buying an additional 37 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in The Cigna Group were worth $374,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Bogart Wealth LLC lifted its position in shares of The Cigna Group by 104.5% in the 3rd quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock worth $26,000 after purchasing an additional 46 shares during the period. OFI Invest Asset Management purchased a new position in shares of The Cigna Group during the 3rd quarter worth approximately $26,000. Fortitude Family Office LLC bought a new position in shares of The Cigna Group in the 4th quarter worth approximately $29,000. VisionPoint Advisory Group LLC lifted its stake in shares of The Cigna Group by 112.2% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock valued at $30,000 after purchasing an additional 55 shares during the period. Finally, Pacifica Partners Inc. boosted its position in shares of The Cigna Group by 73.2% during the fourth quarter. Pacifica Partners Inc. now owns 142 shares of the health services provider’s stock valued at $43,000 after purchasing an additional 60 shares in the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other The Cigna Group news, CEO David Cordani sold 38,065 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $335.22, for a total transaction of $12,760,149.30. Following the completion of the sale, the chief executive officer now directly owns 329,321 shares of the company’s stock, valued at approximately $110,394,985.62. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other The Cigna Group news, CEO David Cordani sold 38,065 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $335.22, for a total transaction 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 $110,394,985.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the sale, the senior vice president now owns 2,102 shares in the company, valued at $694,668.96. The disclosure for this sale can be found here. Insiders have sold 114,144 shares of company stock worth $39,296,330 over the last ninety days. Corporate insiders own 0.60% of the company’s stock.

The Cigna Group Stock Performance

Shares of NYSE:CI traded down $3.00 during midday trading on Friday, hitting $341.50. The company had a trading volume of 2,413,548 shares, compared to its average volume of 1,380,653. The Cigna Group has a 12-month low of $240.50 and a 12-month high of $365.71. The company has a fifty day moving average of $350.77 and a two-hundred day moving average of $319.59. The company has a market cap of $99.84 billion, a price-to-earnings ratio of 28.04, a PEG ratio of 1.05 and a beta of 0.57. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.71 and a quick ratio of 0.67.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, topping the consensus estimate of $6.17 by $0.30. The firm had revenue of $57.25 billion for the quarter, compared to the consensus estimate of $56.59 billion. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same quarter last year, the company earned $5.41 earnings per share. On average, equities research analysts expect that The Cigna Group will post 28.45 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th will be paid a $1.40 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.64%. The Cigna Group’s payout ratio is presently 45.98%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CI shares. Royal Bank of Canada raised shares of The Cigna Group from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $327.00 to $354.00 in a research report on Monday, February 5th. Oppenheimer raised their target price on shares of The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a research note on Friday. Wells Fargo & Company boosted their price target on The Cigna Group from $334.00 to $348.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. Deutsche Bank Aktiengesellschaft upgraded The Cigna Group from a “hold” rating to a “buy” rating and lifted their price objective for the company from $355.00 to $370.00 in a research note on Thursday, February 1st. Finally, StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 14th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $366.14.

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.