May 13, 2023 – &Crown Wealth Group LLC has acquired a new position in the renowned health services company The Cigna Group (NYSE:CI) during the fourth quarter. According to recent reports from the Securities and Exchange Commission (SEC), this institutional investor purchased 615 shares of the company’s stock valued at $204,000. This move is seen as an important one for &Crown Wealth Group LLC as it diversifies its holdings in the healthcare sector.
The Cigna Group recently disclosed their quarterly dividend, indicating a payment date of June 22nd to shareholders recording on June 7th along with a $1.23 dividend per share. This signifies an annualized amount of $4.92 along with a yield of 1.92%. The ex-dividend date for this payout is set for June 6th, following which The Cigna Group’s dividend payout ratio will be at 22.42%.
Following this announcement came news that insider Michael W. Triplett had sold around 1,731 shares of the company’s stock worth $470,260.77 in transaction completed some time ago back on March 10th earlier this year. Post-transaction Triplett now holds about 30,235 shares directly in the company valued at $8,213,942.45.
In yet another sale carried out by EVP Cynthia Ryan last February revealed through legal filings in SEC law database system shows that she sold around 803 shares worth $236,130.18 altogether; selling these at an average price of $294.06 per share before finally owning about 6,503 shares currently-worth over $1,912,272 after completing that transaction.
These events all tie into insider activity within The Cigna Group over the past ninety days – together amounting to insiders selling around $8,200,219 worth of company stock altogether representing approximately .60% ownership across boards. While insiders have been observed selling stock, these moves may be seen as a necessary exercise to increase liquid funds for the company’s future plans and growth strategies.
In conclusion, The Cigna Group has witnessed several major developments in recent months with &Crown Wealth Group LLC acquiring new shares and news of insider activity within the organization. Only time will tell how these significant shifts will impact the health services provider’s overall market performance moving forward.
Recent Changes in Institutional Investor Positions at The Cigna Group: Mixed Ratings and Dividend Announcement
The Cigna Group has recently seen changes in its institutional investor positions as several investors have taken new stakes in the company. Axiom Financial Strategies LLC and Fairfield Bush & CO. recently purchased new stakes valued at $212,000 and $40,000 respectively, while Cibc World Market Inc. boosted its position by 52.6% to own shares worth $4,547,000. Vontobel Holding Ltd. raised its holdings by 6.5%, owning shares totaling $2,265,000 and finally, Sequoia Financial Advisors LLC increased their holdings in the company by 36.5% to own shares worth $307,000.
Research analysts have given mixed ratings to the stock with eight rating it a “hold”, nine labeling it a “buy” and two grading it as a “strong buy”. Bloomberg.com reports a consensus rating of “Moderate Buy” with a projected target price of $328.17.
The company has announced their quarterly dividend to be paid on June 22nd with shareholders of record on June 7th entitled to receive a payout of $1.23 per share.This amounts to an annualized dividend payout ratio of $4.92 per share and a yield of 1.92%.
This announcement did not boost The Cigna Group’s stock which currently trades at $255.83 – down from the previous high of $340:11.While the health service provider had an impressive Q1 during which they reported earnings per share (EPS) of $5:41 topping analyst estimates,it will need to focus on strategies that can help prevent any further losses in the foreseeable future.Institutional investors still dominate ownership significantly with ownership percentage at just over87%.
