The Cigna Group (NYSE:CI) Holdings Lifted by Baird Financial Group Inc.

Baird Financial Group Inc. boosted its holdings in The Cigna Group (NYSE:CI - Free Report) by 29.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,246 shares of the health services provider's stock after acquiring an additional 8,667 shares during the quarter. Baird Financial Group Inc.'s holdings in The Cigna Group were worth $10,561,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CI. TCTC Holdings LLC bought a new position in shares of The Cigna Group during the 4th quarter worth about $25,000. Collier Financial acquired a new stake in shares of The Cigna Group during the fourth quarter worth $32,000. ORG Wealth Partners LLC acquired a new position in shares of The Cigna Group during the 4th quarter worth about $34,000. Compagnie Lombard Odier SCmA bought a new position in shares of The Cigna Group in the 4th quarter valued at about $37,000. Finally, Transce3nd LLC acquired a new stake in The Cigna Group during the fourth quarter worth approximately $38,000. 86.99% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Elder Granger sold 2,376 shares of the business's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $310.35, for a total transaction of $737,391.60. Following the completion of the transaction, 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Noelle K. Eder sold 9,944 shares of the business's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the completion of the sale, the insider now directly owns 13,406 shares of the company's stock, valued at approximately $4,289,920. This trade represents a 42.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,751 shares of company stock worth $13,603,991 in the last ninety days. Company insiders own 0.70% of the company's stock.

Wall Street Analysts Forecast Growth

CI has been the topic of a number of recent analyst reports. Stephens decreased their price objective on shares of The Cigna Group from $410.00 to $380.00 and set an "overweight" rating on the stock in a research note 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 for the company. in a research report on Thursday, February 6th. Robert W. Baird lowered their price objective on The Cigna Group from $388.00 to $362.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Wells Fargo & Company lowered their price objective on The Cigna Group from $370.00 to $341.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 4th. Finally, Piper Sandler boosted their target price on The Cigna Group from $348.00 to $374.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, The Cigna Group currently has a consensus rating of "Buy" and a consensus target price of $379.33.

The Cigna Group Trading Down 3.4%

Shares of CI traded down $10.76 during mid-day trading on Tuesday, reaching $304.98. 1,311,732 shares of the company's stock traded hands, compared to its average volume of 1,808,506. The stock has a market cap of $81.47 billion, a P/E ratio of 24.92, a P/E/G ratio of 0.98 and a beta of 0.47. The stock's 50-day moving average is $325.94 and its two-hundred day moving average is $310.00. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. 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 (NYSE:CI - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.35 by $0.39. The firm had revenue of $65.45 billion during the quarter, compared to analyst estimates of $60.39 billion. The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. The Cigna Group's quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.47 earnings per share. Research analysts forecast that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Tuesday, June 3rd. The Cigna Group's dividend payout ratio (DPR) is presently 33.44%.

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.