Catalyst Financial Partners LLC Raises Holdings in The Cigna Group (NYSE:CI)

Catalyst Financial Partners LLC increased its holdings in The Cigna Group (NYSE:CI) by 9.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 788 shares of the health services provider’s stock after purchasing an additional 66 shares during the quarter. Catalyst Financial Partners LLC’s holdings in The Cigna Group were worth $236,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CI. Bogart Wealth LLC grew its position in shares of The Cigna Group by 104.5% in the third quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock valued at $26,000 after purchasing an additional 46 shares during the last quarter. OFI Invest Asset Management bought a new stake in shares of The Cigna Group in the 3rd quarter worth approximately $26,000. Fortitude Family Office LLC bought a new stake in shares of The Cigna Group in the 4th quarter worth approximately $29,000. VisionPoint Advisory Group LLC lifted its position in shares of The Cigna Group by 112.2% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock worth $30,000 after acquiring an additional 55 shares during the period. Finally, Pacifica Partners Inc. lifted its position in shares of The Cigna Group by 73.2% in the 4th quarter. Pacifica Partners Inc. now owns 142 shares of the health services provider’s stock worth $43,000 after acquiring an additional 60 shares during the period. 86.99% of the stock is currently owned by institutional investors.

The Cigna Group Price Performance

Shares of NYSE:CI traded up $0.61 during trading on Wednesday, reaching $347.31. The company had a trading volume of 1,355,013 shares, compared to its average volume of 1,587,449. The Cigna Group has a twelve month low of $240.50 and a twelve month high of $365.71. The firm’s fifty day moving average is $350.89 and its 200 day moving average is $320.21. 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 $98.66 billion, a PE ratio of 28.51, a price-to-earnings-growth ratio of 1.04 and a beta of 0.57.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results 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 analysts’ expectations of $56.59 billion. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The Cigna Group’s revenue was up 23.2% on a year-over-year basis. During the same period in the prior year, the business posted $5.41 EPS. On average, equities analysts forecast that The Cigna Group will post 28.45 EPS for the current year.

The Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend is Tuesday, June 4th. The Cigna Group’s dividend payout ratio is presently 45.98%.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group 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 transaction of $11,084,500.53. Following the sale, the chief executive officer now owns 348,054 shares in the company, valued at $123,618,339.18. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Eric P. Palmer sold 6,083 shares of the company’s stock in a transaction dated Tuesday, February 13th. The stock was 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 owns 44,649 shares of the company’s stock, valued at $15,180,660. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO David Cordani sold 31,209 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 348,054 shares of the company’s stock, valued at approximately $123,618,339.18. The disclosure for this sale can be found here. In the last 90 days, insiders sold 109,277 shares of company stock valued at $37,687,884. 0.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CI has been the subject of a number of research reports. Barclays started coverage on The Cigna Group in a research report on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 price objective for the company. Wells Fargo & Company lifted their target price on The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 6th. Morgan Stanley restated an “overweight” rating and issued a $392.00 price target (up from $382.00) on shares of The Cigna Group in a research report on Monday, March 4th. StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 14th. Finally, Deutsche Bank Aktiengesellschaft raised shares of 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 note on Thursday, February 1st. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $366.14.

The Cigna Group 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.