Castle Rock Wealth Management LLC Has $1.86 Million Position in The Cigna Group (NYSE:CI)

Castle Rock Wealth Management LLC trimmed its position in shares of The Cigna Group (NYSE:CI - Free Report) by 20.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,622 shares of the health services provider's stock after selling 1,445 shares during the period. Castle Rock Wealth Management LLC's holdings in The Cigna Group were worth $1,862,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rhumbline Advisers lifted its stake in shares of The Cigna Group by 0.8% in the 1st quarter. Rhumbline Advisers now owns 585,923 shares of the health services provider's stock valued at $192,769,000 after purchasing an additional 4,423 shares during the last quarter. Fifth Third Wealth Advisors LLC lifted its position in The Cigna Group by 2.3% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,626 shares of the health services provider's stock worth $535,000 after acquiring an additional 36 shares during the last quarter. IFG Advisors LLC acquired a new position in The Cigna Group during the 1st quarter worth $230,000. Rothschild Investment LLC lifted its position in The Cigna Group by 10.3% during the 1st quarter. Rothschild Investment LLC now owns 738 shares of the health services provider's stock worth $243,000 after acquiring an additional 69 shares during the last quarter. Finally, Red Spruce Capital LLC lifted its position in The Cigna Group by 2.1% during the 1st quarter. Red Spruce Capital LLC now owns 9,201 shares of the health services provider's stock worth $3,027,000 after acquiring an additional 185 shares during the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

The Cigna Group Price Performance

The Cigna Group stock traded up $1.71 during trading hours on Thursday, hitting $311.83. 254,246 shares of the stock were exchanged, compared to its average volume of 1,686,448. 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 stock has a market capitalization of $83.30 billion, a P/E ratio of 25.48, a P/E/G ratio of 0.98 and a beta of 0.47. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The business's 50-day moving average is $324.14 and its two-hundred day moving average is $309.30.

The Cigna Group (NYSE:CI - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, beating 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 business 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 Cigna Group's revenue was up 14.4% compared to the same quarter last year. Equities research analysts expect that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be issued a $1.51 dividend. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $6.04 annualized dividend and a yield of 1.94%. The Cigna Group's dividend payout ratio (DPR) is presently 33.44%.

Insiders Place Their Bets

In related news, Director Elder Granger sold 2,376 shares of the firm's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $310.35, for a total transaction of $737,391.60. Following the sale, the director now directly owns 5,471 shares in the company, valued at $1,697,924.85. This trade represents a 30.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Noelle K. Eder sold 9,944 shares of The Cigna Group stock in a transaction on Friday, March 7th. The shares were sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the completion of the sale, the insider now owns 13,406 shares in the company, valued at $4,289,920. The trade was a 42.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.70% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Cowen reissued a "buy" rating on shares of The Cigna Group in a research report on Monday, May 5th. Truist Financial upped their price objective on shares of The Cigna Group from $385.00 to $405.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Robert W. Baird cut their price objective on shares of The Cigna Group from $388.00 to $362.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Cantor Fitzgerald upped their price objective on shares of The Cigna Group from $350.00 to $365.00 and gave the company an "overweight" rating in a research report on Thursday, March 20th. Finally, Guggenheim reaffirmed a "buy" rating and set a $388.00 price objective on shares of The Cigna Group in a research report on Friday, May 23rd. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $380.39.

The Cigna Group Company 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.