Waverly Advisors LLC Purchases 5,764 Shares of The Cigna Group (NYSE:CI)

Waverly Advisors LLC raised its stake in The Cigna Group (NYSE:CI - Free Report) by 102.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,400 shares of the health services provider's stock after buying an additional 5,764 shares during the quarter. Waverly Advisors LLC's holdings in The Cigna Group were worth $3,148,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. TCTC Holdings LLC acquired a new stake in shares of The Cigna Group in the fourth quarter valued at approximately $25,000. Collier Financial acquired a new stake in shares of The Cigna Group in the fourth quarter valued at approximately $32,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of The Cigna Group in the fourth quarter valued at approximately $37,000. Transce3nd LLC acquired a new stake in shares of The Cigna Group in the fourth quarter valued at approximately $38,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of The Cigna Group in the fourth quarter valued at approximately $53,000. Institutional investors own 86.99% of the company's stock.

Insiders Place Their Bets

In other news, insider Noelle K. Eder sold 9,944 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $320.00, for a total value of $3,182,080.00. Following the sale, the insider now directly owns 13,406 shares in the company, valued at approximately $4,289,920. This trade represents a 42.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Elder Granger sold 2,376 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the director now owns 5,471 shares in the company, valued at approximately $1,697,924.85. The trade was a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,751 shares of company stock worth $13,603,991 over the last ninety days. Corporate insiders own 0.70% of the company's stock.

The Cigna Group Trading Down 2.4%

CI stock opened at $317.16 on Thursday. 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 company's 50-day simple moving average is $325.56 and its 200 day simple moving average is $310.07. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. The company has a market capitalization of $84.73 billion, a PE ratio of 25.91, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47.

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 the consensus estimate of $60.39 billion. During the same period in the prior year, the company posted $6.47 earnings per share. The Cigna Group's revenue was up 14.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be paid a dividend of $1.51 per share. The ex-dividend date is Tuesday, June 3rd. This represents a $6.04 dividend on an annualized basis and a yield of 1.90%. The Cigna Group's payout ratio is 33.44%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Truist Financial boosted their target price on shares of The Cigna Group from $385.00 to $405.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Wells Fargo & Company lowered their target price on shares of The Cigna Group from $370.00 to $341.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 4th. Cantor Fitzgerald boosted their target price on shares of The Cigna Group from $350.00 to $365.00 and gave the stock an "overweight" rating in a report on Thursday, March 20th. UBS Group lowered their target price on shares of The Cigna Group from $410.00 to $390.00 and set a "buy" rating on the stock in a report on Monday, February 3rd. Finally, Cowen reiterated a "buy" rating on shares of The Cigna Group in a report on Monday, May 5th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Buy" and an average price target of $379.33.

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.

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