Gateway Wealth Partners LLC Makes New $872,000 Investment in Cigna Group $CI

Gateway Wealth Partners LLC acquired a new stake in Cigna Group (NYSE:CI) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 3,270 shares of the health services provider’s stock, valued at approximately $872,000.

A number of other hedge funds also recently modified their holdings of CI. Cary Street Partners Investment Advisory LLC grew its stake in Cigna Group by 11.0% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 363 shares of the health services provider’s stock valued at $100,000 after buying an additional 36 shares during the last quarter. OLD National Bancorp IN boosted its holdings in shares of Cigna Group by 3.7% during the fourth quarter. OLD National Bancorp IN now owns 1,031 shares of the health services provider’s stock worth $284,000 after acquiring an additional 37 shares during the period. IHT Wealth Management LLC grew its position in shares of Cigna Group by 2.5% in the fourth quarter. IHT Wealth Management LLC now owns 1,535 shares of the health services provider’s stock valued at $423,000 after purchasing an additional 38 shares during the last quarter. Whetstone Capital Advisors LLC grew its position in shares of Cigna Group by 4.9% in the fourth quarter. Whetstone Capital Advisors LLC now owns 829 shares of the health services provider’s stock valued at $228,000 after purchasing an additional 39 shares during the last quarter. Finally, CYBER HORNET ETFs LLC increased its stake in shares of Cigna Group by 5.3% during the fourth quarter. CYBER HORNET ETFs LLC now owns 801 shares of the health services provider’s stock worth $220,000 after purchasing an additional 40 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

Cigna Group Trading Down 1.2%

Shares of NYSE:CI opened at $297.42 on Thursday. The business’s 50 day simple moving average is $286.64 and its 200 day simple moving average is $281.06. Cigna Group has a 1 year low of $239.51 and a 1 year high of $315.47. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.73 and a quick ratio of 0.73. The company has a market capitalization of $78.68 billion, a P/E ratio of 12.61, a P/E/G ratio of 1.16 and a beta of 0.29.

Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, April 30th. The health services provider reported $7.79 earnings per share for the quarter, beating the consensus estimate of $7.60 by $0.19. The firm had revenue of $68.52 billion during the quarter, compared to analysts’ expectations of $66.29 billion. Cigna Group had a return on equity of 19.75% and a net margin of 2.26%.The company’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.74 EPS. On average, research analysts anticipate that Cigna Group will post 30.39 EPS for the current fiscal year.

Cigna Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Tuesday, September 8th will be given a $1.56 dividend. The ex-dividend date is Tuesday, September 8th. This represents a $6.24 dividend on an annualized basis and a dividend yield of 2.1%. Cigna Group’s dividend payout ratio (DPR) is presently 26.45%.

Analysts Set New Price Targets

Several analysts recently weighed in on CI shares. Barclays cut Cigna Group from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $310.00 to $304.00 in a report on Tuesday, May 26th. Cantor Fitzgerald lifted their target price on Cigna Group from $325.00 to $340.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Piper Sandler reduced their target price on shares of Cigna Group from $370.00 to $346.00 and set an “overweight” rating for the company in a research report on Wednesday, June 3rd. UBS Group upped their price target on shares of Cigna Group from $375.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, May 22nd. Finally, Guggenheim raised their price target on shares of Cigna Group from $334.00 to $338.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Cigna Group presently has an average rating of “Moderate Buy” and an average price target of $338.80.

Insiders Place Their Bets

In related news, CAO Jamie G. Kates sold 899 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $298.61, for a total value of $268,450.39. Following the completion of the transaction, the chief accounting officer owned 2,368 shares of the company’s stock, valued at $707,108.48. The trade was a 27.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David Cordani sold 201,878 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $292.82, for a total transaction of $59,113,915.96. Following the sale, the chief executive officer directly owned 34,337 shares of the company’s stock, valued at $10,054,560.34. This represents a 85.46% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is currently owned by company insiders.

Cigna Group Company Profile

Cigna Group (NYSE: CI) is a global health services company that offers a broad portfolio of healthcare products and insurance solutions for individuals, employers, and governments. Its core businesses include medical and behavioral health plans, dental and vision coverage, pharmacy benefit management, and supplemental health products. Cigna serves a mix of commercial, Medicare, and Medicaid customers and provides workplace benefits such as group health plans and disability and life benefits for employers.

In addition to traditional insurance products, Cigna operates health services and care-delivery platforms designed to manage costs and improve outcomes.