PFG Investments LLC Invests $894,000 in The Cigna Group (NYSE:CI)

PFG Investments LLC acquired a new position in shares of The Cigna Group (NYSE:CI - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,462 shares of the health services provider's stock, valued at approximately $894,000.

A number of other large investors have also recently bought and sold shares of CI. Capital Asset Advisory Services LLC grew its stake in shares of The Cigna Group by 2.3% during the 1st quarter. Capital Asset Advisory Services LLC now owns 1,280 shares of the health services provider's stock worth $464,000 after acquiring an additional 29 shares in the last quarter. Capital Advisors Ltd. LLC grew its stake in shares of The Cigna Group by 10.6% during the 1st quarter. Capital Advisors Ltd. LLC now owns 335 shares of the health services provider's stock worth $122,000 after acquiring an additional 32 shares in the last quarter. First Financial Corp IN grew its stake in shares of The Cigna Group by 17.2% during the 1st quarter. First Financial Corp IN now owns 225 shares of the health services provider's stock worth $82,000 after acquiring an additional 33 shares in the last quarter. Somerset Trust Co grew its stake in shares of The Cigna Group by 1.6% during the 1st quarter. Somerset Trust Co now owns 2,209 shares of the health services provider's stock worth $802,000 after acquiring an additional 34 shares in the last quarter. Finally, Avestar Capital LLC grew its stake in shares of The Cigna Group by 0.8% during the 3rd quarter. Avestar Capital LLC now owns 4,585 shares of the health services provider's stock worth $1,312,000 after acquiring an additional 35 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company's stock.

The Cigna Group Price Performance

The Cigna Group stock traded down $0.04 during midday trading on Friday, reaching $354.47. The company's stock had a trading volume of 830,527 shares, compared to its average volume of 1,260,787. The Cigna Group has a 52 week low of $240.50 and a 52 week high of $365.71. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.61. The business has a 50-day moving average price of $349.88 and a 200-day moving average price of $318.15. The stock has a market cap of $103.63 billion, a PE ratio of 20.38, a price-to-earnings-growth ratio of 1.09 and a beta of 0.56.

The Cigna Group (NYSE:CI - Get Free Report) last released its earnings results on Friday, February 2nd. The health services provider reported $6.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.54 by $0.25. The Cigna Group had a return on equity of 13.59% and a net margin of 2.64%. The firm had revenue of $51.15 billion for the quarter, compared to analysts' expectations of $48.91 billion. During the same quarter in the previous year, the business posted $4.96 earnings per share. The business's revenue for the quarter was up 11.8% on a year-over-year basis. On average, sell-side analysts predict that The Cigna Group will post 28.36 EPS for the current year.

The Cigna Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Tuesday, June 4th. The Cigna Group's payout ratio is 32.20%.

Wall Street Analysts Forecast Growth

CI has been the subject of several recent analyst reports. Barclays initiated coverage on The Cigna Group in a report on Wednesday, March 6th. They issued an "overweight" rating and a $393.00 price objective for the company. Oppenheimer reaffirmed an "outperform" rating and set a $360.00 price target on shares of The Cigna Group in a report on Wednesday, January 17th. Mizuho raised their price target on The Cigna Group from $360.00 to $370.00 and gave the company a "buy" rating in a report on Monday, February 5th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $384.00 price target on shares of The Cigna Group in a report on Wednesday, April 10th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $392.00 price target (up previously from $382.00) on shares of The Cigna Group in a report on Monday, March 4th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, The Cigna Group has a consensus rating of "Buy" and an average price target of $362.14.

Insider Activity

In other news, CEO David Cordani sold 38,065 shares of The Cigna Group stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $335.22, for a total transaction of $12,760,149.30. Following the sale, the chief executive officer now directly owns 329,321 shares of the company's stock, valued at $110,394,985.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Eric P. Palmer sold 6,083 shares of The Cigna Group stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $340.00, for a total value of $2,068,220.00. Following the transaction, the insider now directly owns 44,649 shares of the company's stock, valued at $15,180,660. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO David Cordani sold 38,065 shares of The Cigna Group stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $335.22, for a total value of $12,760,149.30. Following the completion of the transaction, the chief executive officer now directly owns 329,321 shares in the company, valued at $110,394,985.62. The disclosure for this sale can be found here. Over the last three months, insiders have sold 114,144 shares of company stock valued at $39,296,330. 0.60% of the stock is currently owned by corporate 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.

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