Pathstone Holdings LLC Buys 4,439 Shares of The Cigna Group (NYSE:CI)

Pathstone Holdings LLC boosted its stake in The Cigna Group (NYSE:CI) by 9.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,085 shares of the health services provider’s stock after acquiring an additional 4,439 shares during the period. Pathstone Holdings LLC’s holdings in The Cigna Group were worth $14,108,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CI. TCTC Holdings LLC bought a new stake in The Cigna Group in the fourth quarter valued at approximately $25,000. Collier Financial bought a new stake in The Cigna Group in the fourth quarter valued at approximately $32,000. Compagnie Lombard Odier SCmA acquired a new position in The Cigna Group in the fourth quarter valued at approximately $37,000. Transce3nd LLC acquired a new position in The Cigna Group in the fourth quarter valued at approximately $38,000. Finally, Heck Capital Advisors LLC acquired a new position in The Cigna Group in the fourth quarter valued at approximately $53,000. 86.99% of the stock is currently owned by institutional investors.

The Cigna Group Trading Up 0.4%

NYSE CI opened at $303.11 on Thursday. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70. The stock’s 50 day moving average is $325.30 and its 200 day moving average is $309.89. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The firm has a market capitalization of $80.97 billion, a PE ratio of 24.76, a P/E/G ratio of 0.98 and a beta of 0.47.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share for the quarter, topping the consensus estimate of $6.35 by $0.39. The firm had revenue of $65.45 billion during the quarter, compared to analysts’ expectations of $60.39 billion. The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. The company’s revenue was up 14.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.47 earnings per share. Research analysts forecast that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The business 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 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 1.99%. The Cigna Group’s dividend payout ratio (DPR) is presently 33.44%.

Insider Transactions at The Cigna Group

In other news, CEO David Cordani sold 26,527 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $8,173,499.24. Following the completion of the sale, the chief executive officer now owns 127,767 shares of the company’s stock, valued at $39,367,568.04. This trade represents a 17.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Elder Granger sold 2,376 shares of The Cigna Group stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $310.35, for a total value of $737,391.60. Following the sale, the director now directly owns 5,471 shares of the company’s stock, valued at approximately $1,697,924.85. This represents a 30.28% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,751 shares of company stock worth $13,603,991. 0.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CI has been the topic of several recent analyst reports. Oppenheimer dropped their price target on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a research note on Friday, January 31st. Mizuho boosted their price target on The Cigna Group from $360.00 to $384.00 and gave the company an “outperform” rating in a research note on Wednesday, April 9th. Truist Financial boosted their price target on The Cigna Group from $385.00 to $405.00 and gave the company a “buy” rating in a research note on Monday. Raymond James reaffirmed a “strong-buy” rating and set a $360.00 target price (down from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Finally, StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 8th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus 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.