Mission Wealth Management LP Purchases 91 Shares of The Cigna Group (NYSE:CI)

Mission Wealth Management LP boosted its position in The Cigna Group (NYSE:CI) by 9.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,010 shares of the health services provider’s stock after acquiring an additional 91 shares during the period. Mission Wealth Management LP’s holdings in The Cigna Group were worth $367,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Silicon Valley Capital Partners boosted its holdings in The Cigna Group by 100.0% in the first quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock worth $25,000 after acquiring an additional 35 shares in the last quarter. Fortitude Family Office LLC purchased a new stake in shares of The Cigna Group in the fourth quarter worth approximately $29,000. VisionPoint Advisory Group LLC raised its stake in shares of The Cigna Group by 112.2% in the third quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock worth $30,000 after purchasing an additional 55 shares during the last quarter. Raleigh Capital Management Inc. raised its stake in shares of The Cigna Group by 69.5% in the fourth quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock worth $30,000 after purchasing an additional 41 shares during the last quarter. Finally, Pineridge Advisors LLC purchased a new stake in shares of The Cigna Group in the fourth quarter worth approximately $37,000. Institutional investors own 86.99% of the company’s stock.

Insider Buying and Selling

In related news, Director Elder Granger sold 547 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $331.38, for a total value of $181,264.86. Following the sale, the director now owns 5,471 shares in the company, valued at $1,812,979.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other The Cigna Group news, insider Noelle K. Eder sold 10,700 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $348.47, for a total transaction of $3,728,629.00. Following the sale, the insider now owns 15,824 shares in the company, valued at $5,514,189.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Elder Granger sold 547 shares of the firm’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $331.38, for a total value of $181,264.86. Following the sale, the director now owns 5,471 shares in the company, valued at approximately $1,812,979.98. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,988 shares of company stock worth $7,975,726. Corporate insiders own 0.70% of the company’s stock.

The Cigna Group Price Performance

NYSE CI traded down $6.31 during trading hours on Friday, hitting $319.12. The company had a trading volume of 1,611,976 shares, compared to its average volume of 1,294,959. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market capitalization of $90.65 billion, a price-to-earnings ratio of 26.20, a PEG ratio of 0.99 and a beta of 0.52. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $365.71. The firm has a 50 day simple moving average of $338.32 and a 200 day simple moving average of $333.92.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, beating analysts’ consensus estimates of $6.17 by $0.30. The company had revenue of $57.25 billion during the quarter, compared to analyst estimates of $56.59 billion. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The Cigna Group’s revenue was up 23.2% compared to the same quarter last year. During the same period last year, the business earned $5.41 earnings per share. Equities research analysts expect that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Tuesday, June 4th were given a $1.40 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.75%. The Cigna Group’s dividend payout ratio (DPR) is presently 45.98%.

Wall Street Analyst Weigh In

A number of analysts recently commented on CI shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a research report on Wednesday, June 12th. Oppenheimer increased their price target on The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. JPMorgan Chase & Co. increased their price target on The Cigna Group from $432.00 to $435.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Piper Sandler started coverage on The Cigna Group in a research report on Wednesday, June 26th. They set an “overweight” rating and a $400.00 price target for the company. Finally, Baird R W raised The Cigna Group to a “strong-buy” rating in a research report on Thursday, May 30th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, The Cigna Group presently has a consensus rating of “Buy” and a consensus target price of $376.20.

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.