Cetera Investment Advisers Has $22.61 Million Stock Position in The Cigna Group (NYSE:CI)

Cetera Investment Advisers lifted its position in shares of The Cigna Group (NYSE:CI) by 230.3% during the 1st quarter, Holdings Channel.com reports. The firm owned 62,261 shares of the health services provider’s stock after purchasing an additional 43,414 shares during the quarter. Cetera Investment Advisers’ holdings in The Cigna Group were worth $22,612,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of CI. Seizert Capital Partners LLC raised its holdings in The Cigna Group by 195.8% during the 4th quarter. Seizert Capital Partners LLC now owns 32,150 shares of the health services provider’s stock worth $9,627,000 after buying an additional 21,280 shares during the period. Roman Butler Fullerton & Co. boosted its position in The Cigna Group by 61.4% during the fourth quarter. Roman Butler Fullerton & Co. now owns 9,307 shares of the health services provider’s stock worth $2,772,000 after purchasing an additional 3,539 shares during the period. TFO Wealth Partners LLC boosted its position in The Cigna Group by 98,980.0% during the fourth quarter. TFO Wealth Partners LLC now owns 4,954 shares of the health services provider’s stock worth $1,497,000 after purchasing an additional 4,949 shares during the period. Sapient Capital LLC bought a new position in The Cigna Group during the fourth quarter worth $2,811,000. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of The Cigna Group by 29.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 293,438 shares of the health services provider’s stock valued at $87,870,000 after acquiring an additional 66,891 shares during the period. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Price Performance

Shares of CI stock traded up $4.73 during midday trading on Friday, reaching $337.33. 3,193,740 shares of the company traded hands, compared to its average volume of 1,247,865. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.71 and a quick ratio of 0.71. The Cigna Group has a 1-year low of $253.95 and a 1-year high of $365.71. The firm has a market cap of $95.83 billion, a PE ratio of 27.70, a price-to-earnings-growth ratio of 1.02 and a beta of 0.52. The firm’s 50 day simple moving average is $335.80 and its two-hundred day simple moving average is $338.73.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.42 by $0.30. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The firm had revenue of $60.52 billion during the quarter, compared to the consensus estimate of $58.30 billion. During the same period in the prior year, the firm earned $6.13 EPS. The firm’s quarterly revenue was up 24.6% compared to the same quarter last year. On average, equities research analysts expect that The Cigna Group will post 28.4 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Wednesday, September 4th will be paid a $1.40 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.66%. The Cigna Group’s payout ratio is currently 45.98%.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, insider Brian C. Evanko sold 4,795 shares of The Cigna Group stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $345.01, for a total value of $1,654,322.95. Following the transaction, the insider now owns 39,923 shares in the company, valued at $13,773,834.23. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Noelle K. Eder sold 10,700 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $348.47, for a total transaction of $3,728,629.00. Following the transaction, the insider now directly owns 15,824 shares in the company, valued at $5,514,189.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian C. Evanko sold 4,795 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the sale, the insider now directly owns 39,923 shares of the company’s stock, valued at $13,773,834.23. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,988 shares of company stock worth $7,975,726. 0.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on CI shares. Stephens reaffirmed an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a research note on Friday. Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a research note on Wednesday, July 10th. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday. Piper Sandler started coverage on The Cigna Group in a research note on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their target price on The Cigna Group from $432.00 to $435.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $379.06.

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.