Empirical Financial Services LLC d.b.a. Empirical Wealth Management Has $5.10 Million Stock Position in The Cigna Group (NYSE:CI)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in The Cigna Group (NYSE:CI) by 13.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,032 shares of the health services provider’s stock after purchasing an additional 1,983 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in The Cigna Group were worth $5,100,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Mackenzie Financial Corp lifted its holdings in The Cigna Group by 4.5% during the third quarter. Mackenzie Financial Corp now owns 135,998 shares of the health services provider’s stock worth $38,679,000 after acquiring an additional 5,863 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC grew its holdings in The Cigna Group by 20.5% during the third quarter. Pinnacle Wealth Management Advisory Group LLC now owns 954 shares of the health services provider’s stock worth $273,000 after purchasing an additional 162 shares during the period. Strs Ohio raised its stake in The Cigna Group by 10.2% in the 3rd quarter. Strs Ohio now owns 165,171 shares of the health services provider’s stock valued at $47,250,000 after acquiring an additional 15,294 shares during the period. NBT Bank N A NY boosted its position in The Cigna Group by 5.3% during the third quarter. NBT Bank N A NY now owns 1,315 shares of the health services provider’s stock worth $376,000 after purchasing an additional 66 shares during the period. Finally, Advisor Partners II LLC lifted its position in The Cigna Group by 13.5% during the third quarter. Advisor Partners II LLC now owns 16,616 shares of the health services provider’s stock worth $4,753,000 after acquiring an additional 1,971 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Trading Up 1.3 %

NYSE CI traded up $4.29 during trading hours on Tuesday, reaching $346.70. The company’s stock had a trading volume of 1,548,683 shares, compared to its average volume of 1,590,111. The firm has a fifty day simple moving average of $350.89 and a 200-day simple moving average of $320.21. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.71 and a quick ratio of 0.71. The Cigna Group has a 52 week low of $240.50 and a 52 week high of $365.71. The stock has a market cap of $98.49 billion, a P/E ratio of 28.46, a P/E/G ratio of 1.04 and a beta of 0.57.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, topping analysts’ consensus estimates of $6.17 by $0.30. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The company had revenue of $57.25 billion for the quarter, compared to analyst estimates of $56.59 billion. During the same period in the previous year, the firm earned $5.41 earnings per share. The firm’s quarterly revenue was up 23.2% on a year-over-year basis. Equities analysts forecast that The Cigna Group will post 28.45 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Tuesday, June 4th will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.62%. The Cigna Group’s payout ratio is 45.98%.

Analyst Ratings Changes

CI has been the subject of several recent research reports. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 14th. Deutsche Bank Aktiengesellschaft upgraded The Cigna Group from a “hold” rating to a “buy” rating and raised their price target for the stock from $355.00 to $370.00 in a research report on Thursday, February 1st. Royal Bank of Canada raised shares of The Cigna Group from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $327.00 to $354.00 in a research report on Monday, February 5th. Wells Fargo & Company raised their target price on shares of The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $392.00 price target (up previously from $382.00) on shares of The Cigna Group in a report on Monday, March 4th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $366.14.

Insiders Place Their Bets

In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total value of $1,608,446.16. Following the completion of the sale, the senior vice president now directly owns 2,102 shares in the company, valued at $694,668.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of The Cigna Group stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total value of $1,608,446.16. Following the completion of the sale, the senior vice president now owns 2,102 shares of the company’s stock, valued at approximately $694,668.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Eric P. Palmer sold 1,017 shares of The Cigna Group stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $335.26, for a total transaction of $340,959.42. Following the transaction, the insider now owns 45,564 shares of the company’s stock, valued at $15,275,786.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 114,144 shares of company stock worth $39,296,330. 0.70% of the stock is owned by corporate insiders.

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.