Family Legacy Inc. Purchases 58 Shares of The Cigna Group (NYSE:CI)

Family Legacy Inc. increased its position in shares of The Cigna Group (NYSE:CI) by 0.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,466 shares of the health services provider’s stock after purchasing an additional 58 shares during the quarter. Family Legacy Inc.’s holdings in The Cigna Group were worth $1,806,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. TCTC Holdings LLC bought a new position in shares of The Cigna Group in the fourth quarter worth approximately $25,000. Collier Financial bought a new position in shares of The Cigna Group during the fourth quarter valued at approximately $32,000. ORG Wealth Partners LLC bought a new stake in The Cigna Group in the fourth quarter worth $34,000. Compagnie Lombard Odier SCmA bought a new stake in The Cigna Group during the 4th quarter valued at about $37,000. Finally, Heck Capital Advisors LLC purchased a new stake in The Cigna Group during the 4th quarter valued at $53,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Analyst Ratings Changes

CI has been the topic of a number of recent research reports. Raymond James reissued a “strong-buy” rating and issued a $360.00 target price (down previously from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Morgan Stanley decreased their price target on shares of 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. Sanford C. Bernstein lowered shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective on the stock. in a research report on Thursday, February 6th. Wells Fargo & Company reduced their target price on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Finally, Royal Bank of Canada set a $355.00 target price on shares of The Cigna Group in a 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, The Cigna Group has an average rating of “Buy” and a consensus target price of $373.25.

Insiders Place Their Bets

In other news, CEO David Cordani sold 26,527 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $8,173,499.24. Following the completion of the transaction, the chief executive officer now directly owns 127,767 shares in the company, valued at $39,367,568.04. This trade represents a 17.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Noelle K. Eder sold 9,944 shares of the business’s 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 sale, the insider now directly owns 13,406 shares in the company, 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. Over the last three months, insiders have sold 43,751 shares of company stock valued at $13,603,991. Company insiders own 0.70% of the company’s stock.

The Cigna Group Price Performance

NYSE:CI opened at $324.97 on Monday. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The company’s 50-day moving average is $304.67 and its two-hundred day moving average is $313.47. 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 has a market cap of $88.94 billion, a price-to-earnings ratio of 26.55, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same quarter in the previous year, the company earned $6.79 EPS. Research analysts expect that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.86%. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Wednesday, March 5th. The Cigna Group’s payout ratio is 49.35%.

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.