Physician Wealth Advisors Inc. Invests $730,000 in The Cigna Group (NYSE:CI)

Physician Wealth Advisors Inc. bought a new stake in The Cigna Group (NYSE:CI) in the 4th quarter, Holdings Channel.com reports. The firm bought 2,644 shares of the health services provider’s stock, valued at approximately $730,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. CreativeOne Wealth LLC lifted its position in shares of The Cigna Group by 3.0% in the third quarter. CreativeOne Wealth LLC now owns 1,219 shares of the health services provider’s stock valued at $422,000 after buying an additional 35 shares during the last quarter. Public Sector Pension Investment Board lifted its holdings in The Cigna Group by 5.5% during the 3rd quarter. Public Sector Pension Investment Board now owns 11,603 shares of the health services provider’s stock valued at $4,020,000 after purchasing an additional 600 shares during the last quarter. Rockefeller Capital Management L.P. lifted its holdings in The Cigna Group by 10.1% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 61,725 shares of the health services provider’s stock valued at $21,389,000 after purchasing an additional 5,642 shares during the last quarter. Captrust Financial Advisors boosted its position in The Cigna Group by 21.9% during the third quarter. Captrust Financial Advisors now owns 29,272 shares of the health services provider’s stock worth $10,141,000 after purchasing an additional 5,262 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of The Cigna Group by 22.0% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 507,299 shares of the health services provider’s stock valued at $175,749,000 after purchasing an additional 91,637 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

CI has been the subject of several research analyst reports. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Saturday. Barclays reduced their price objective on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Sanford C. Bernstein lowered The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 target price on the stock. in a research note on Thursday, February 6th. Raymond James restated a “strong-buy” rating and issued a $360.00 price target (down from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Finally, Morgan Stanley lowered their price objective on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $373.25.

Insider Activity

In other news, insider Noelle K. Eder sold 9,944 shares of the 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 completion of the transaction, the insider now directly owns 13,406 shares in the company, valued at approximately $4,289,920. This represents a 42.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David Cordani sold 26,527 shares of the business’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 sale, the chief executive officer now owns 127,767 shares in the company, valued at $39,367,568.04. This represents a 17.19 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,751 shares of company stock worth $13,603,991. Corporate insiders own 0.70% of the company’s stock.

The Cigna Group Stock Performance

NYSE CI opened at $324.97 on Friday. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The firm has a market capitalization of $88.94 billion, a price-to-earnings ratio of 26.55, a P/E/G ratio of 0.98 and a beta of 0.53. 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 firm’s 50 day simple moving average is $304.67 and its 200 day simple moving average is $313.78.

The Cigna Group (NYSE:CI) last issued its 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 last year, the company 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 fiscal year.

The Cigna Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were issued a $1.51 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.86%. 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%.

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.