RWA Wealth Partners LLC Grows Stock Position in The Cigna Group (NYSE:CI)

RWA Wealth Partners LLC boosted its stake in The Cigna Group (NYSE:CI) by 83.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,417 shares of the health services provider’s stock after acquiring an additional 1,552 shares during the quarter. RWA Wealth Partners LLC’s holdings in The Cigna Group were worth $1,023,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CI. Roman Butler Fullerton & Co. raised its position in shares of The Cigna Group by 61.4% in the 4th quarter. Roman Butler Fullerton & Co. now owns 9,307 shares of the health services provider’s stock valued at $2,772,000 after purchasing an additional 3,539 shares in the last quarter. Ellsworth Advisors LLC acquired a new position in shares of The Cigna Group in the 4th quarter valued at approximately $4,377,000. Sapient Capital LLC acquired a new position in shares of The Cigna Group in the 4th quarter valued at approximately $2,811,000. Allspring Global Investments Holdings LLC raised its position in shares of The Cigna Group by 29.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 293,438 shares of the health services provider’s stock valued at $87,870,000 after purchasing an additional 66,891 shares in the last quarter. Finally, Accurate Wealth Management LLC acquired a new position in shares of The Cigna Group in the 4th quarter valued at approximately $2,244,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Insider Transactions at The Cigna Group

In other news, CEO David Cordani sold 31,209 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $355.17, for a total value of $11,084,500.53. Following the completion of the transaction, the chief executive officer now owns 348,054 shares of the company’s stock, valued at $123,618,339.18. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Eric P. Palmer sold 1,017 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $335.26, for a total value of $340,959.42. Following the completion of the transaction, the insider now owns 45,564 shares of the company’s stock, valued at $15,275,786.64. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO David Cordani sold 31,209 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $355.17, for a total value 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 approximately $123,618,339.18. The disclosure for this sale can be found here. Over the last quarter, insiders sold 114,144 shares of company stock valued at $39,296,330. 0.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 14th. Barclays initiated coverage on The Cigna Group in a research report on Wednesday, March 6th. They set an “overweight” rating and a $393.00 price target on the stock. Deutsche Bank Aktiengesellschaft raised The Cigna Group from a “hold” rating to a “buy” rating and upped their price target for the company from $355.00 to $370.00 in a research report on Thursday, February 1st. Royal Bank of Canada raised The Cigna Group from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $327.00 to $354.00 in a research report on Monday, February 5th. Finally, Wells Fargo & Company upped their price target on The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. Two equities 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 MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $362.14.

The Cigna Group Price Performance

Shares of CI opened at $352.27 on Thursday. The company has a market cap of $102.99 billion, a P/E ratio of 20.26, a PEG ratio of 1.08 and a beta of 0.56. The stock has a fifty day moving average price of $349.31 and a 200 day moving average price of $317.09. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.67. The Cigna Group has a 12 month low of $240.50 and a 12 month high of $365.71.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Friday, February 2nd. The health services provider reported $6.79 EPS for the quarter, topping analysts’ consensus estimates of $6.54 by $0.25. The firm had revenue of $51.15 billion during the quarter, compared to the consensus estimate of $48.91 billion. The Cigna Group had a return on equity of 13.59% and a net margin of 2.64%. The firm’s revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the business earned $4.96 EPS. On average, research analysts forecast that The Cigna Group will post 28.36 earnings per share for the current year.

The Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.59%. The Cigna Group’s payout ratio is 32.20%.

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.