The Cigna Group (NYSE:CI) Shares Acquired by Meridian Wealth Management LLC

Meridian Wealth Management LLC lifted its stake in shares of The Cigna Group (NYSE:CI) by 1.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,670 shares of the health services provider’s stock after purchasing an additional 37 shares during the period. Meridian Wealth Management LLC’s holdings in The Cigna Group were worth $1,013,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Swedbank AB raised its position in shares of The Cigna Group by 26.6% during the 3rd quarter. Swedbank AB now owns 570,283 shares of the health services provider’s stock valued at $197,569,000 after buying an additional 119,681 shares during the period. Farther Finance Advisors LLC raised its position in shares of The Cigna Group by 42.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,877 shares of the health services provider’s stock valued at $650,000 after buying an additional 555 shares during the period. Janney Montgomery Scott LLC raised its position in shares of The Cigna Group by 4.5% during the 3rd quarter. Janney Montgomery Scott LLC now owns 31,664 shares of the health services provider’s stock valued at $10,970,000 after buying an additional 1,372 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in shares of The Cigna Group during the 3rd quarter valued at approximately $45,000. Finally, Van ECK Associates Corp raised its position in shares of The Cigna Group by 1.8% during the 3rd quarter. Van ECK Associates Corp now owns 15,137 shares of the health services provider’s stock valued at $4,807,000 after buying an additional 265 shares during the period. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO David Cordani sold 26,527 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the completion of the transaction, the chief executive officer now directly owns 127,767 shares of the company’s stock, valued at $39,367,568.04. This represents a 17.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Nicole S. Jones sold 4,904 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the transaction, the insider now directly owns 29,421 shares of the company’s stock, valued at $9,065,198.52. This represents a 14.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.

The Cigna Group Stock Performance

NYSE CI opened at $308.90 on Wednesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The company has a market capitalization of $85.92 billion, a PE ratio of 25.24, a P/E/G ratio of 0.98 and a beta of 0.54. The company has a fifty day moving average of $290.71 and a two-hundred day moving average of $318.11.

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 net margin of 1.39% and a return on equity of 18.61%. During the same quarter last year, the company posted $6.79 earnings per share. As a group, analysts expect that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.96%. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date is Wednesday, March 5th. The Cigna Group’s dividend payout ratio is presently 49.35%.

Analyst Upgrades and Downgrades

CI has been the topic of several analyst reports. Wells Fargo & Company reduced their price target 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. Morgan Stanley reduced 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 report on Friday, January 31st. Sanford C. Bernstein lowered The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 target price on the stock. in a research report on Thursday, February 6th. StockNews.com raised The Cigna Group from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Finally, Oppenheimer cut their target price on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a research report on Friday, January 31st. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, The Cigna Group presently has an average rating of “Buy” and an average target price of $372.31.

About The Cigna Group

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.