PFG Advisors Has $722,000 Stock Position in The Cigna Group (NYSE:CI)

PFG Advisors boosted its holdings in shares of The Cigna Group (NYSE:CI) by 16.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,615 shares of the health services provider’s stock after acquiring an additional 364 shares during the quarter. PFG Advisors’ holdings in The Cigna Group were worth $722,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Swedbank AB raised its stake in shares of The Cigna Group by 26.6% during the 3rd quarter. Swedbank AB now owns 570,283 shares of the health services provider’s stock worth $197,569,000 after purchasing an additional 119,681 shares in the last quarter. Harbour Investments Inc. raised its stake in shares of The Cigna Group by 23.6% in the 3rd quarter. Harbour Investments Inc. now owns 661 shares of the health services provider’s stock valued at $229,000 after acquiring an additional 126 shares in the last quarter. Prime Capital Investment Advisors LLC raised its stake in shares of The Cigna Group by 7.5% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 3,125 shares of the health services provider’s stock valued at $1,082,000 after acquiring an additional 218 shares in the last quarter. Aptus Capital Advisors LLC increased its position in The Cigna Group by 2.5% in the 3rd quarter. Aptus Capital Advisors LLC now owns 2,613 shares of the health services provider’s stock worth $905,000 after buying an additional 64 shares during the period. Finally, Haverford Trust Co increased its position in The Cigna Group by 6.0% in the 3rd quarter. Haverford Trust Co now owns 2,408 shares of the health services provider’s stock worth $834,000 after buying an additional 136 shares during the period. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at The Cigna Group

In related news, insider Nicole S. Jones sold 4,904 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the completion of the transaction, the insider now directly owns 29,421 shares of the company’s stock, valued at approximately $9,065,198.52. This represents a 14.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Noelle K. Eder sold 9,944 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were 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 trade represents a 42.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,375 shares of company stock valued at $12,866,600 over the last three months. Company insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CI shares. Oppenheimer decreased their price objective on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a report on Friday, January 31st. UBS Group decreased their price target on The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Morgan Stanley decreased their price target on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. StockNews.com raised The Cigna Group from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Finally, Piper Sandler reissued an “overweight” rating and issued a $348.00 price objective (down previously from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, The Cigna Group has an average rating of “Buy” and an average price target of $372.31.

The Cigna Group Trading Up 0.4 %

NYSE CI opened at $313.35 on Friday. The stock has a 50-day simple moving average of $296.79 and a 200 day simple moving average of $316.78. The company has a market capitalization of $85.76 billion, a PE ratio of 25.60, 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 Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) 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 firm earned $6.79 earnings per share. Research analysts forecast that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be given a dividend of $1.51 per share. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a dividend yield of 1.93%. The ex-dividend date is Wednesday, March 5th. The Cigna Group’s dividend payout ratio is currently 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.