Clifford Swan Investment Counsel LLC Purchases Shares of 685 The Cigna Group (NYSE:CI)

Clifford Swan Investment Counsel LLC acquired a new position in The Cigna Group (NYSE:CI) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 685 shares of the health services provider’s stock, valued at approximately $205,000.

Several other large investors have also recently modified their holdings of CI. Bogart Wealth LLC raised 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 valued at $26,000 after purchasing an additional 46 shares during the last quarter. OFI Invest Asset Management acquired a new stake in shares of The Cigna Group during the third quarter worth $26,000. Fortitude Family Office LLC acquired a new position in shares of The Cigna Group in the 4th quarter valued at $29,000. VisionPoint Advisory Group LLC raised its stake in 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 worth $30,000 after acquiring an additional 55 shares during the last quarter. Finally, Pacifica Partners Inc. lifted its position in The Cigna Group by 73.2% during the 4th quarter. Pacifica Partners Inc. now owns 142 shares of the health services provider’s stock worth $43,000 after acquiring an additional 60 shares during the period. Institutional investors own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CI. Morgan Stanley restated an “overweight” rating and issued a $392.00 price objective (up from $382.00) on shares of The Cigna Group in a research note on Monday, March 4th. Royal Bank of Canada raised shares of The Cigna Group from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $327.00 to $354.00 in a report on Monday, February 5th. StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 14th. Cantor Fitzgerald boosted their price objective on The Cigna Group from $384.00 to $400.00 and gave the company an “overweight” rating in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft raised The Cigna Group from a “hold” rating to a “buy” rating and boosted their price target for the company from $355.00 to $370.00 in a report on Thursday, February 1st. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, The Cigna Group presently has an average rating of “Buy” and an average price target of $366.14.

Insider Transactions at The Cigna Group

In other The Cigna Group 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 value of $1,608,446.16. Following the completion of 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 document filed with the SEC, which can be accessed through this link. In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the business’s 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 transaction, the senior vice president now directly owns 2,102 shares in the company, valued at approximately $694,668.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric P. Palmer sold 1,017 shares of The Cigna Group stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $335.26, for a total transaction of $340,959.42. Following the sale, the insider now directly owns 45,564 shares in the company, valued at approximately $15,275,786.64. The disclosure for this sale can be found here. Insiders have sold a total of 114,144 shares of company stock worth $39,296,330 in the last ninety days. Insiders own 0.70% of the company’s stock.

The Cigna Group Stock Performance

CI opened at $342.41 on Tuesday. The firm’s fifty day simple moving average is $350.77 and its two-hundred day simple moving average is $319.93. The Cigna Group has a 52-week low of $240.50 and a 52-week high of $365.71. The company has a market cap of $97.27 billion, a price-to-earnings ratio of 28.11, a PEG ratio of 1.04 and a beta of 0.57. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.75.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share for the quarter, beating analysts’ consensus estimates of $6.17 by $0.30. The firm had revenue of $57.25 billion for the quarter, compared to analyst estimates of $56.59 billion. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The Cigna Group’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period last year, the company posted $5.41 EPS. Equities analysts anticipate that The Cigna Group will post 28.45 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently announced 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. This represents a $5.60 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend is Tuesday, June 4th. The Cigna Group’s dividend payout ratio (DPR) is 45.98%.

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.