Millstone Evans Group LLC Invests $118,000 in The Cigna Group (NYSE:CI)

Millstone Evans Group LLC bought a new position in shares of The Cigna Group (NYSE:CI) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 429 shares of the health services provider’s stock, valued at approximately $118,000.

Several other institutional investors also recently modified their holdings of the stock. TCTC Holdings LLC acquired a new position in shares of The Cigna Group in the 4th quarter valued at approximately $25,000. Collier Financial acquired a new position in shares of The Cigna Group in the 4th quarter valued at approximately $32,000. ORG Wealth Partners LLC acquired a new position in shares of The Cigna Group in the 4th quarter valued at approximately $34,000. Prospera Private Wealth LLC acquired a new position in shares of The Cigna Group in the 3rd quarter valued at approximately $37,000. Finally, Compagnie Lombard Odier SCmA acquired a new position in shares of The Cigna Group in the 4th quarter valued at approximately $37,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on CI. Cantor Fitzgerald boosted their price objective on The Cigna Group from $350.00 to $365.00 and gave the company an “overweight” rating in a research report on Thursday. Royal Bank of Canada set a $355.00 price objective on The Cigna Group in a research report on Friday, January 31st. Stephens cut their target price on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Wells Fargo & Company cut their target price on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Finally, StockNews.com upgraded The Cigna Group from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $373.25.

Insider Activity at The Cigna Group

In other The Cigna Group news, insider Noelle K. Eder sold 9,944 shares of the company’s stock in a transaction on Friday, March 7th. The stock was 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 of the company’s stock, valued at $4,289,920. This represents a 42.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Nicole S. Jones sold 4,904 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $1,511,020.48. Following the completion of the transaction, the insider now directly owns 29,421 shares in the company, valued at approximately $9,065,198.52. This represents a 14.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,751 shares of company stock worth $13,603,991. Company insiders own 0.60% of the company’s stock.

The Cigna Group Stock Down 1.4 %

CI opened at $316.78 on Friday. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The stock’s fifty day simple moving average is $300.83 and its 200 day simple moving average is $315.05. 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 stock has a market cap of $86.70 billion, a PE ratio of 25.88, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing analysts’ consensus estimates of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same period in the prior year, the firm posted $6.79 earnings per share. As a group, research analysts expect that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were paid a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend was Wednesday, March 5th. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio is 49.35%.

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.