TBH Global Asset Management LLC Buys 5,451 Shares of The Cigna Group (NYSE:CI)

TBH Global Asset Management LLC boosted its holdings in shares of The Cigna Group (NYSE:CI) by 65.7% during the 4th quarter, Holdings Channel reports. The firm owned 13,747 shares of the health services provider’s stock after buying an additional 5,451 shares during the period. The Cigna Group comprises about 0.8% of TBH Global Asset Management LLC’s portfolio, making the stock its 28th biggest holding. TBH Global Asset Management LLC’s holdings in The Cigna Group were worth $4,117,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Fortitude Family Office LLC purchased a new position in shares of The Cigna Group in the 4th quarter worth approximately $29,000. VisionPoint Advisory Group LLC raised its position in The Cigna Group by 112.2% during 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 in the last quarter. Pacifica Partners Inc. raised its position in shares of The Cigna Group by 73.2% in 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 in the last quarter. MeadowBrook Investment Advisors LLC purchased a new position in The Cigna Group during the 4th quarter worth $43,000. Finally, Cape Investment Advisory Inc. grew its stake in The Cigna Group by 50.9% during the 3rd quarter. Cape Investment Advisory Inc. now owns 166 shares of the health services provider’s stock worth $47,000 after buying an additional 56 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Price Performance

Shares of The Cigna Group stock traded down $5.22 during trading on Friday, hitting $332.61. 1,303,058 shares of the company were exchanged, compared to its average volume of 1,585,104. The Cigna Group has a fifty-two week low of $240.50 and a fifty-two week high of $365.71. The stock has a market capitalization of $94.48 billion, a price-to-earnings ratio of 27.74, a P/E/G ratio of 1.03 and a beta of 0.57. The firm has a 50 day moving average price of $351.38 and a 200 day moving average price of $322.97. 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 earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share for the quarter, topping the consensus estimate of $6.17 by $0.30. The business had revenue of $57.25 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 23.2% on a year-over-year basis. During the same period last year, the company posted $5.41 EPS. On average, equities analysts expect that The Cigna Group will post 28.47 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Tuesday, June 4th will be issued a $1.40 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $5.60 annualized dividend and a yield of 1.68%. The Cigna Group’s dividend payout ratio is currently 45.98%.

Insider Activity at The Cigna Group

In other news, CEO David Cordani sold 2,412 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $345.73, for a total transaction of $833,900.76. Following the completion of the sale, the chief executive officer now directly owns 340,438 shares in the company, valued at $117,699,629.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO David Cordani sold 2,412 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $345.73, for a total transaction of $833,900.76. Following the transaction, the chief executive officer now owns 340,438 shares of the company’s stock, valued at $117,699,629.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $348.71, for a total transaction of $2,073,429.66. Following the transaction, the senior vice president now directly owns 2,595 shares in the company, valued at approximately $904,902.45. The disclosure for this sale can be found here. In the last three months, insiders sold 72,366 shares of company stock worth $25,440,835. Corporate insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on CI. Wells Fargo & Company boosted their price target on The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 6th. Morgan Stanley reaffirmed an “overweight” rating and issued a $392.00 price target (up previously from $382.00) on shares of The Cigna Group in a report on Monday, March 4th. Deutsche Bank Aktiengesellschaft upgraded The Cigna Group from a “hold” rating to a “buy” rating and increased their price objective for the stock from $355.00 to $370.00 in a research report on Thursday, February 1st. Oppenheimer increased their price objective on The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Finally, Barclays initiated coverage on The Cigna Group in a research note on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 price target on the stock. Two investment 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $366.14.

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.