Schechter Investment Advisors LLC Has $1.13 Million Holdings in The Cigna Group (NYSE:CI)

Schechter Investment Advisors LLC lessened its position in shares of The Cigna Group (NYSE:CI) by 9.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 3,772 shares of the health services provider’s stock after selling 384 shares during the quarter. Schechter Investment Advisors LLC’s holdings in The Cigna Group were worth $1,130,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Avestar Capital LLC grew its holdings in shares of The Cigna Group by 0.8% during the third quarter. Avestar Capital LLC now owns 4,585 shares of the health services provider’s stock worth $1,312,000 after purchasing an additional 35 shares in the last quarter. Eads & Heald Wealth Management grew its holdings in shares of The Cigna Group by 1.7% during the third quarter. Eads & Heald Wealth Management now owns 2,123 shares of the health services provider’s stock worth $607,000 after purchasing an additional 35 shares in the last quarter. Linscomb & Williams Inc. grew its holdings in shares of The Cigna Group by 0.3% during the fourth quarter. Linscomb & Williams Inc. now owns 10,877 shares of the health services provider’s stock worth $3,604,000 after purchasing an additional 36 shares in the last quarter. Gray Wealth Management Inc. grew its holdings in shares of The Cigna Group by 4.2% during the second quarter. Gray Wealth Management Inc. now owns 890 shares of the health services provider’s stock worth $250,000 after purchasing an additional 36 shares in the last quarter. Finally, Wambolt & Associates LLC lifted its position in The Cigna Group by 1.4% in the 2nd quarter. Wambolt & Associates LLC now owns 2,536 shares of the health services provider’s stock worth $712,000 after buying an additional 36 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Insider Transactions at The Cigna Group

In other news, CEO David Cordani sold 31,209 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $355.17, for a total value of $11,084,500.53. Following the sale, the chief executive officer now directly owns 348,054 shares of the company’s stock, valued at $123,618,339.18. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO David Cordani sold 31,209 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $355.17, for a total transaction of $11,084,500.53. Following the transaction, the chief executive officer now directly owns 348,054 shares of the company’s stock, valued at $123,618,339.18. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Eric P. Palmer sold 6,083 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $340.00, for a total value of $2,068,220.00. Following the completion of the transaction, the insider now directly owns 44,649 shares in the company, valued at approximately $15,180,660. The disclosure for this sale can be found here. Over the last three months, insiders have sold 114,144 shares of company stock valued at $39,296,330. Insiders own 0.60% of the company’s stock.

The Cigna Group Price Performance

Shares of CI stock opened at $363.38 on Thursday. The stock has a market cap of $106.24 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 1.09 and a beta of 0.55. The business’s fifty day moving average is $332.16 and its 200 day moving average is $307.08. The Cigna Group has a twelve month low of $240.50 and a twelve month high of $364.71. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.61.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Friday, February 2nd. The health services provider reported $6.79 earnings per share for the quarter, topping the consensus estimate of $6.54 by $0.25. The company had revenue of $51.15 billion for the quarter, compared to analysts’ expectations of $48.91 billion. The Cigna Group had a return on equity of 13.59% and a net margin of 2.64%. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the prior year, the firm earned $4.96 earnings per share. Research analysts expect that The Cigna Group will post 28.36 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th were paid a $1.40 dividend. This is a boost from The Cigna Group’s previous quarterly dividend of $1.23. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date was Tuesday, March 5th. The Cigna Group’s dividend payout ratio is currently 32.20%.

Analysts Set New Price Targets

A number of analysts recently weighed in on CI shares. Cantor Fitzgerald restated an “overweight” rating and issued a $372.00 target price on shares of The Cigna Group in a research report on Monday, March 4th. Deutsche Bank Aktiengesellschaft upgraded The Cigna Group from a “hold” rating to a “buy” rating and boosted their price objective for the company from $355.00 to $370.00 in a research report on Thursday, February 1st. Mizuho boosted their price objective on The Cigna Group from $360.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, February 5th. Royal Bank of Canada upgraded The Cigna Group from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $327.00 to $354.00 in a research report on Monday, February 5th. Finally, Wells Fargo & Company boosted their price objective on The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $361.29.

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.