Aquatic Capital Management LLC Invests $16.94 Million in The Cigna Group (NYSE:CI)

Aquatic Capital Management LLC bought a new stake in shares of The Cigna Group (NYSE:CI - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 61,360 shares of the health services provider's stock, valued at approximately $16,944,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Garden State Investment Advisory Services LLC bought a new position in The Cigna Group during the 3rd quarter valued at $444,000. Advisory Resource Group grew its position in shares of The Cigna Group by 2.0% during the 3rd quarter. Advisory Resource Group now owns 13,163 shares of the health services provider's stock valued at $4,560,000 after acquiring an additional 263 shares during the period. Virtu Financial LLC grew its position in shares of The Cigna Group by 39.6% during the 3rd quarter. Virtu Financial LLC now owns 17,173 shares of the health services provider's stock valued at $5,949,000 after acquiring an additional 4,870 shares during the period. Te Ahumairangi Investment Management Ltd grew its position in shares of The Cigna Group by 7.9% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 20,330 shares of the health services provider's stock valued at $7,003,000 after acquiring an additional 1,490 shares during the period. Finally, Pine Valley Investments Ltd Liability Co grew its position in shares of The Cigna Group by 28.3% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 15,713 shares of the health services provider's stock valued at $5,444,000 after acquiring an additional 3,466 shares during the period. Institutional investors and hedge funds own 86.99% of the company's stock.

Insider Transactions at The Cigna Group

In other news, insider Nicole S. Jones sold 4,904 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $1,511,020.48. Following the sale, the insider now directly owns 29,421 shares of the company's stock, valued at approximately $9,065,198.52. The trade was a 14.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Elder Granger sold 2,376 shares of the stock in a transaction on Friday, March 14th. The shares were sold at an average price of $310.35, for a total value of $737,391.60. Following the completion of the sale, the director now owns 5,471 shares in the company, valued at approximately $1,697,924.85. The trade was a 30.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,751 shares of company stock valued at $13,603,991. Corporate insiders own 0.70% of the company's stock.

The Cigna Group Stock Down 0.6 %

Shares of CI stock traded down $2.04 during trading hours on Thursday, reaching $338.00. 744,083 shares of the company's stock were exchanged, compared to its average volume of 1,700,548. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The stock's fifty day moving average price is $322.13 and its two-hundred day moving average price is $310.45. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The stock has a market cap of $92.50 billion, a PE ratio of 27.63, a PEG ratio of 0.98 and a beta of 0.51.

The Cigna Group (NYSE:CI - Get Free Report) last announced its earnings results 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 business posted $6.79 earnings per share. Research analysts predict that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be paid a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend is Tuesday, June 3rd. The Cigna Group's dividend payout ratio is currently 49.35%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Morgan Stanley reduced their target price on shares of The Cigna Group from $403.00 to $379.00 and set an "overweight" rating for the company in a research report on Friday, January 31st. Barclays cut their price objective on shares of The Cigna Group from $420.00 to $339.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Piper Sandler reaffirmed an "overweight" rating and issued a $348.00 price objective (down from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Truist Financial raised their price objective on shares of The Cigna Group from $375.00 to $385.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Finally, Robert W. Baird lowered their target price on shares of The Cigna Group from $388.00 to $362.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $373.56.

The Cigna Group Company 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.