Catalyst Financial Partners LLC Acquires 66 Shares of The Cigna Group (NYSE:CI)

Catalyst Financial Partners LLC grew its holdings in The Cigna Group (NYSE:CI) by 9.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 788 shares of the health services provider’s stock after acquiring an additional 66 shares during the quarter. Catalyst Financial Partners LLC’s holdings in The Cigna Group were worth $236,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CI. FMR LLC lifted its position in The Cigna Group by 13.8% during the third quarter. FMR LLC now owns 15,967,363 shares of the health services provider’s stock worth $4,567,783,000 after purchasing an additional 1,939,554 shares during the period. Massachusetts Financial Services Co. MA lifted its position in The Cigna Group by 3.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 11,833,753 shares of the health services provider’s stock worth $3,385,282,000 after purchasing an additional 345,605 shares during the period. Morgan Stanley lifted its position in The Cigna Group by 4.7% during the third quarter. Morgan Stanley now owns 4,973,106 shares of the health services provider’s stock worth $1,422,657,000 after purchasing an additional 225,115 shares during the period. Northern Trust Corp lifted its position in The Cigna Group by 5.9% during the third quarter. Northern Trust Corp now owns 3,244,157 shares of the health services provider’s stock worth $928,056,000 after purchasing an additional 181,385 shares during the period. Finally, Parnassus Investments LLC bought a new stake in The Cigna Group during the third quarter worth about $731,041,000. Institutional investors own 86.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on CI. Cantor Fitzgerald boosted their target price on The Cigna Group from $384.00 to $400.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 14th. Morgan Stanley reiterated an “overweight” rating and issued a $392.00 price objective (up from $382.00) on shares of The Cigna Group in a research note on Monday, March 4th. Barclays assumed coverage on shares of The Cigna Group in a report on Wednesday, March 6th. They set an “overweight” rating and a $393.00 price target for the company. Finally, Mizuho raised their price objective on shares of The Cigna Group from $360.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, February 5th. Two 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. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $366.14.

Insider Transactions at The Cigna Group

In related news, CEO David Cordani sold 31,209 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $355.17, for a total value of $11,084,500.53. Following the completion of the transaction, the chief executive officer now owns 348,054 shares in the company, valued at approximately $123,618,339.18. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other The Cigna Group news, insider Eric P. Palmer sold 6,083 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $340.00, for a total transaction of $2,068,220.00. Following the completion of the transaction, the insider now owns 44,649 shares in the company, valued at approximately $15,180,660. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO David Cordani sold 31,209 shares of the firm’s stock in a transaction that occurred 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 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. Over 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 insiders.

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 firm’s fifty day moving average is $350.89 and its 200 day moving average is $320.21. 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 has a twelve month low of $240.50 and a twelve month high of $365.71. 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 Cigna Group (NYSE:CI) last released its earnings results 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 net margin of 1.76% and a return on equity of 17.24%. The business had revenue of $57.25 billion for the quarter, compared to the consensus estimate of $56.59 billion. During the same period in the previous year, the firm earned $5.41 EPS. The business’s revenue for the quarter was up 23.2% on a year-over-year basis. On average, equities analysts forecast that The Cigna Group will post 28.45 EPS for the current year.

The Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th will be issued a $1.40 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.61%. The Cigna Group’s dividend payout ratio (DPR) is presently 45.98%.

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.