Wealth Enhancement Advisory Services LLC Buys 49,420 Shares of The Cigna Group (NYSE:CI)

Wealth Enhancement Advisory Services LLC boosted its holdings in The Cigna Group (NYSE:CI - Free Report) by 92.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 102,647 shares of the health services provider's stock after acquiring an additional 49,420 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in The Cigna Group were worth $28,345,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. PKO Investment Management Joint Stock Co acquired a new position in shares of The Cigna Group during the 4th quarter valued at $3,093,000. Castle Rock Wealth Management LLC increased its position in shares of The Cigna Group by 6.3% during the 4th quarter. Castle Rock Wealth Management LLC now owns 7,067 shares of the health services provider's stock valued at $2,066,000 after purchasing an additional 416 shares during the period. Copley Financial Group Inc. increased its position in shares of The Cigna Group by 7.8% during the 4th quarter. Copley Financial Group Inc. now owns 1,347 shares of the health services provider's stock valued at $372,000 after purchasing an additional 98 shares during the period. Park Square Financial Group LLC acquired a new position in shares of The Cigna Group during the 4th quarter valued at $62,000. Finally, Total Wealth Planning & Management Inc. acquired a new position in shares of The Cigna Group during the 4th quarter valued at $402,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CI has been the subject of several research reports. Barclays raised their price objective on The Cigna Group from $339.00 to $382.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Cowen reissued a "buy" rating on shares of The Cigna Group in a research note on Monday, May 5th. Piper Sandler raised their price objective on The Cigna Group from $348.00 to $374.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. UBS Group reduced their price objective on The Cigna Group from $410.00 to $390.00 and set a "buy" rating for the company in a research note on Monday, February 3rd. Finally, Wall Street Zen raised The Cigna Group from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $379.33.

The Cigna Group Stock Performance

NYSE:CI traded up $4.00 during mid-day trading on Friday, hitting $316.05. 2,732,235 shares of the company's stock traded hands, compared to its average volume of 1,697,250. The firm has a 50 day moving average of $324.83 and a two-hundred day moving average of $309.58. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The firm 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 company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70.

The Cigna Group (NYSE:CI - Get Free Report) last announced its earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share for the quarter, beating the consensus estimate of $6.35 by $0.39. The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. The firm had revenue of $65.45 billion during the quarter, compared to the consensus estimate of $60.39 billion. During the same quarter in the prior year, the company earned $6.47 EPS. The firm's revenue for the quarter was up 14.4% compared to the same quarter last year. On average, equities analysts forecast that The Cigna Group will post 29.77 earnings per share for the current fiscal 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 given a $1.51 dividend. The ex-dividend date is Tuesday, June 3rd. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.91%. The Cigna Group's dividend payout ratio is currently 33.44%.

Insiders Place Their Bets

In other news, Director Elder Granger sold 2,376 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $310.35, for a total transaction of $737,391.60. Following the sale, the director now owns 5,471 shares in the company, valued at approximately $1,697,924.85. This represents a 30.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Noelle K. Eder sold 9,944 shares of the company's stock in a transaction 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 transaction, the insider now directly owns 13,406 shares in the company, valued at $4,289,920. This trade represents a 42.59% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,751 shares of company stock worth $13,603,991. 0.70% of the stock is currently owned by company insiders.

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.