Great Valley Advisor Group Inc. Purchases 3,831 Shares of The Cigna Group (NYSE:CI)

Great Valley Advisor Group Inc. increased its position in shares of The Cigna Group (NYSE:CI - Free Report) by 46.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,058 shares of the health services provider's stock after buying an additional 3,831 shares during the period. Great Valley Advisor Group Inc.'s holdings in The Cigna Group were worth $3,329,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC lifted its stake in The Cigna Group by 11.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 35,341 shares of the health services provider's stock worth $9,759,000 after purchasing an additional 3,677 shares during the last quarter. Avior Wealth Management LLC grew its holdings in shares of The Cigna Group by 30.7% during the fourth quarter. Avior Wealth Management LLC now owns 1,512 shares of the health services provider's stock valued at $418,000 after purchasing an additional 355 shares during the last quarter. Brighton Jones LLC raised its position in shares of The Cigna Group by 9.3% during the 4th quarter. Brighton Jones LLC now owns 3,736 shares of the health services provider's stock worth $1,032,000 after purchasing an additional 318 shares during the period. Fifth Third Bancorp raised its position in shares of The Cigna Group by 1.0% during the 4th quarter. Fifth Third Bancorp now owns 25,440 shares of the health services provider's stock worth $7,025,000 after purchasing an additional 261 shares during the period. Finally, Linden Thomas Advisory Services LLC lifted its holdings in shares of The Cigna Group by 29.9% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 2,201 shares of the health services provider's stock worth $608,000 after purchasing an additional 506 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CI shares. Mizuho upped their price objective on The Cigna Group from $360.00 to $384.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 9th. Cowen reiterated a "buy" rating on shares of The Cigna Group in a research report on Monday, May 5th. Sanford C. Bernstein cut The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 price target on the stock. in a report on Thursday, February 6th. Piper Sandler lifted their target price on The Cigna Group from $348.00 to $374.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Finally, Raymond James reissued a "strong-buy" rating and issued a $360.00 price target (down previously from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $379.33.

The Cigna Group Price Performance

Shares of NYSE:CI traded up $4.00 on Friday, hitting $316.05. The stock had a trading volume of 2,732,235 shares, compared to its average volume of 1,804,111. The firm's 50 day moving average price is $324.84 and its 200-day moving average price is $309.75. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The company has a market capitalization of $84.43 billion, a price-to-earnings ratio of 25.82, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47.

The Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 earnings per share for the quarter, topping the consensus estimate of $6.35 by $0.39. The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. The firm had revenue of $65.45 billion for the quarter, compared to analysts' expectations of $60.39 billion. During the same period in the prior year, the firm earned $6.47 earnings per share. The company's quarterly revenue was up 14.4% compared to the same quarter last year. On average, equities research analysts predict that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be paid a dividend of $1.51 per share. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $6.04 annualized dividend and a dividend yield of 1.91%. The Cigna Group's dividend payout ratio (DPR) is currently 33.44%.

Insider Buying and Selling

In related news, insider Nicole S. Jones sold 4,904 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the completion of the sale, the insider now directly owns 29,421 shares of the company's stock, valued at $9,065,198.52. The trade was a 14.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO David Cordani sold 26,527 shares of The Cigna Group stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the sale, the chief executive officer now directly owns 127,767 shares of the company's stock, valued at $39,367,568.04. This represents a 17.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,751 shares of company stock worth $13,603,991 in the last quarter. Insiders own 0.70% of the company's stock.

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.