Kera Capital Partners Inc. purchased a new position in shares of The Cigna Group (NYSE:CI - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 950 shares of the health services provider's stock, valued at approximately $313,000.
Several other large investors have also made changes to their positions in CI. Wellington Management Group LLP increased its holdings in The Cigna Group by 11.1% in the fourth quarter. Wellington Management Group LLP now owns 16,869 shares of the health services provider's stock valued at $4,658,000 after purchasing an additional 1,689 shares during the period. 111 Capital bought a new stake in shares of The Cigna Group in the 4th quarter valued at about $1,287,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of The Cigna Group by 92.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 102,647 shares of the health services provider's stock valued at $28,345,000 after buying an additional 49,420 shares during the period. PKO Investment Management Joint Stock Co bought a new position in shares of The Cigna Group during the fourth quarter worth about $3,093,000. Finally, Castle Rock Wealth Management LLC lifted its stake in shares of The Cigna Group by 6.3% in the fourth quarter. Castle Rock Wealth Management LLC now owns 7,067 shares of the health services provider's stock worth $2,066,000 after acquiring an additional 416 shares during the period. Institutional investors and hedge funds own 86.99% of the company's stock.
The Cigna Group Stock Performance
The Cigna Group stock traded up $4.00 during mid-day trading on Friday, reaching $316.05. The company's stock had a trading volume of 2,732,235 shares, compared to its average volume of 1,706,123. The firm's fifty day moving average price is $324.83 and its two-hundred day moving average price is $309.58. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The company has a market capitalization of $84.43 billion, a P/E ratio of 25.82, a PEG ratio of 0.98 and a beta of 0.47.
The Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.35 by $0.39. The business had revenue of $65.45 billion for the quarter, compared to analysts' expectations of $60.39 billion. The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. The firm's quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.47 EPS. Sell-side analysts predict that The Cigna Group will post 29.77 EPS for the current fiscal year.
The Cigna Group Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be paid a dividend of $1.51 per share. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $6.04 annualized dividend and a yield of 1.91%. The Cigna Group's dividend payout ratio is currently 33.44%.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on CI shares. Guggenheim restated a "buy" rating and issued a $388.00 price target on shares of The Cigna Group in a research report on Friday, May 23rd. UBS Group dropped their target price on shares of The Cigna Group from $410.00 to $390.00 and set a "buy" rating on the stock in a report on Monday, February 3rd. Morgan Stanley increased their price target on The Cigna Group from $379.00 to $390.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Raymond James reissued a "strong-buy" rating and issued a $360.00 price objective (down from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Finally, Barclays upped their target price on The Cigna Group from $339.00 to $382.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $379.33.
Get Our Latest Stock Analysis on The Cigna Group
Insider Buying and Selling
In other 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 directly owns 5,471 shares in the company, valued at $1,697,924.85. The trade was a 30.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Nicole S. Jones sold 4,904 shares of the company's stock in a transaction on 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 completion of the transaction, the insider now directly owns 29,421 shares in the company, valued at approximately $9,065,198.52. The trade was a 14.29% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,751 shares of company stock valued at $13,603,991. Company insiders own 0.70% of the company's stock.
The Cigna Group Profile
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Free Report)
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.
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