Gilliland Jeter Wealth Management LLC Invests $471,000 in The Cigna Group (NYSE:CI)

Gilliland Jeter Wealth Management LLC acquired a new position in shares of The Cigna Group (NYSE:CI) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,573 shares of the health services provider’s stock, valued at approximately $471,000.

Several other institutional investors also recently modified their holdings of CI. Avestar Capital LLC boosted its holdings in shares of The Cigna Group by 0.8% during the 3rd quarter. Avestar Capital LLC now owns 4,585 shares of the health services provider’s stock worth $1,312,000 after buying an additional 35 shares during the period. Eads & Heald Wealth Management boosted its holdings in shares of The Cigna Group by 1.7% during the 3rd quarter. Eads & Heald Wealth Management now owns 2,123 shares of the health services provider’s stock worth $607,000 after buying an additional 35 shares during the period. Relyea Zuckerberg Hanson LLC boosted its holdings in shares of The Cigna Group by 3.2% during the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 1,113 shares of the health services provider’s stock worth $333,000 after buying an additional 35 shares during the period. Strategic Blueprint LLC boosted its holdings in shares of The Cigna Group by 4.8% during the 3rd quarter. Strategic Blueprint LLC now owns 784 shares of the health services provider’s stock worth $224,000 after buying an additional 36 shares during the period. Finally, E&G Advisors LP boosted its holdings in shares of The Cigna Group by 1.8% during the 3rd quarter. E&G Advisors LP now owns 2,137 shares of the health services provider’s stock worth $611,000 after buying an additional 37 shares during the period. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Price Performance

The Cigna Group stock traded down $0.04 during mid-day trading on Friday, hitting $354.47. 830,527 shares of the company traded hands, compared to its average volume of 1,260,787. The Cigna Group has a one year low of $240.50 and a one year high of $365.71. The stock has a market cap of $103.63 billion, a price-to-earnings ratio of 20.38, a price-to-earnings-growth ratio of 1.09 and a beta of 0.56. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a fifty day moving average price of $349.88 and a 200-day moving average price of $317.80.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Friday, February 2nd. The health services provider reported $6.79 EPS for the quarter, topping the consensus estimate of $6.54 by $0.25. The firm had revenue of $51.15 billion for the quarter, compared to the consensus estimate of $48.91 billion. The Cigna Group had a net margin of 2.64% and a return on equity of 13.59%. The business’s revenue was up 11.8% compared to the same quarter last year. During the same period last year, the firm posted $4.96 earnings per share. On average, equities analysts predict that The Cigna Group will post 28.36 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th will be paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend is Tuesday, June 4th. The Cigna Group’s dividend payout ratio (DPR) is presently 32.20%.

Wall Street Analyst Weigh In

CI has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft raised shares of The Cigna Group from a “hold” rating to a “buy” rating and boosted their price objective for the company from $355.00 to $370.00 in a report on Thursday, February 1st. Cantor Fitzgerald reissued an “overweight” rating and issued a $384.00 price objective on shares of The Cigna Group in a report on Wednesday, April 10th. Sanford C. Bernstein raised shares of The Cigna Group from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $330.00 to $372.00 in a report on Thursday, January 4th. Barclays started coverage on shares of The Cigna Group in a research report on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 target price for the company. Finally, Mizuho boosted their target price on shares of The Cigna Group from $360.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, February 5th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $362.14.

Insiders Place Their Bets

In related news, CEO David Cordani sold 31,209 shares of The Cigna Group stock in a transaction 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 transaction, the chief executive officer now directly owns 348,054 shares of the company’s stock, valued at $123,618,339.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO David Cordani sold 31,209 shares of The Cigna Group stock in a transaction 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 transaction, the chief executive officer now directly owns 348,054 shares of the company’s stock, valued at $123,618,339.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the transaction, the senior vice president now directly owns 2,102 shares in the company, valued at $694,668.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 114,144 shares of company stock valued at $39,296,330. 0.60% of the stock is currently owned by corporate insiders.

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.