Pinnacle Wealth Management Advisory Group LLC Buys 220 Shares of The Cigna Group (NYSE:CI)

Pinnacle Wealth Management Advisory Group LLC lifted its position in The Cigna Group (NYSE:CI) by 23.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,174 shares of the health services provider’s stock after acquiring an additional 220 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in The Cigna Group were worth $352,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bogart Wealth LLC increased its holdings in The Cigna Group by 104.5% in the 3rd quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock worth $26,000 after buying an additional 46 shares in the last quarter. OFI Invest Asset Management purchased a new position in shares of The Cigna Group in the 3rd quarter worth approximately $26,000. Fortitude Family Office LLC bought a new position in shares of The Cigna Group during the 4th quarter valued at approximately $29,000. VisionPoint Advisory Group LLC raised its holdings in The Cigna Group by 112.2% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock valued at $30,000 after buying an additional 55 shares during the period. Finally, Pacifica Partners Inc. boosted its stake in The Cigna Group by 73.2% during the fourth quarter. Pacifica Partners Inc. now owns 142 shares of the health services provider’s stock worth $43,000 after buying an additional 60 shares during the period. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Price Performance

Shares of The Cigna Group stock traded up $2.00 during trading on Thursday, hitting $349.35. 546,367 shares of the company were exchanged, compared to its average volume of 1,575,637. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $99.24 billion, a price-to-earnings ratio of 28.51, a P/E/G ratio of 1.04 and a beta of 0.57. The Cigna Group has a fifty-two week low of $240.50 and a fifty-two week high of $365.71. The firm has a 50 day moving average price of $350.89 and a 200 day moving average price of $320.21.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, May 2nd. The health services provider reported $6.47 earnings per share for the quarter, beating analysts’ consensus estimates of $6.17 by $0.30. The business had revenue of $57.25 billion during the quarter, compared to analyst estimates of $56.59 billion. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The company’s revenue was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.41 earnings per share. On average, equities analysts expect that The Cigna Group will post 28.45 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend is Tuesday, June 4th. The Cigna Group’s dividend payout ratio (DPR) is 45.98%.

Insider Transactions at The Cigna Group

In related news, CEO David Cordani sold 38,065 shares of the company’s stock in a transaction that occurred on 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 approximately $110,394,985.62. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Eric P. Palmer sold 1,017 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $335.26, for a total value of $340,959.42. Following the sale, the insider now owns 45,564 shares in the company, valued at $15,275,786.64. The sale was disclosed in a filing with the SEC, which is available at 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 sale, the chief executive officer now directly owns 329,321 shares in the company, valued at approximately $110,394,985.62. The disclosure for this sale can be found here. Insiders have sold a total of 109,277 shares of company stock worth $37,687,884 in the last three months. Company insiders own 0.70% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on CI. Mizuho raised their target price on shares of The Cigna Group from $360.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, February 5th. Barclays started coverage on The Cigna Group in a research note on Wednesday, March 6th. They set an “overweight” rating and a $393.00 target price on the stock. Wells Fargo & Company boosted their price objective on The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. Oppenheimer lifted their target price on The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Finally, Royal Bank of Canada upgraded shares of The Cigna Group from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $327.00 to $354.00 in a report on Monday, February 5th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $366.14.

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.