Mystic Asset Management Inc. Invests $2.54 Million in The Cigna Group (NYSE:CI)

Mystic Asset Management Inc. bought a new stake in The Cigna Group (NYSE:CI) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 9,185 shares of the health services provider’s stock, valued at approximately $2,536,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of CI. TCTC Holdings LLC purchased a new stake in shares of The Cigna Group during the 4th quarter valued at $25,000. Collier Financial acquired a new position in The Cigna Group in the fourth quarter valued at $32,000. ORG Wealth Partners LLC purchased a new stake in The Cigna Group during the fourth quarter valued at about $34,000. Prospera Private Wealth LLC acquired a new stake in The Cigna Group during the third quarter worth about $37,000. Finally, Compagnie Lombard Odier SCmA acquired a new stake in The Cigna Group during the fourth quarter worth about $37,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analyst Upgrades and Downgrades

CI has been the topic of several research analyst reports. StockNews.com raised The Cigna Group from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Truist Financial reduced their price target on shares of The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. 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 report on Monday, February 3rd. UBS Group cut their target price on shares of 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. Finally, Cantor Fitzgerald decreased their price target on shares of The Cigna Group from $400.00 to $350.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $372.31.

The Cigna Group Trading Up 1.4 %

NYSE:CI opened at $317.23 on Tuesday. The stock has a market cap of $86.82 billion, a price-to-earnings ratio of 25.92, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53. The Cigna Group has a one year low of $262.03 and a one year high of $370.83. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The business’s 50-day simple moving average is $297.55 and its 200 day simple moving average is $315.92.

The Cigna Group (NYSE:CI) last announced 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 business earned $6.79 earnings per share. As a group, sell-side analysts predict 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 disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $1.51 per share. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Wednesday, March 5th. The Cigna Group’s dividend payout ratio (DPR) is currently 49.35%.

Insider Transactions at The Cigna Group

In other The Cigna Group 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 transaction, the insider now owns 29,421 shares of the company’s stock, valued at $9,065,198.52. This trade represents a 14.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Elder Granger sold 2,376 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $310.35, for a total value of $737,391.60. Following the completion of the sale, the director now owns 5,471 shares of the company’s stock, valued at $1,697,924.85. This trade represents a 30.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,751 shares of company stock valued at $13,603,991. Insiders own 0.60% of the company’s stock.

The Cigna Group Company 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.