Delta Investment Management LLC Makes New $3.31 Million Investment in The Cigna Group (NYSE:CI)

Delta Investment Management LLC acquired a new position in The Cigna Group (NYSE:CI - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,995 shares of the health services provider's stock, valued at approximately $3,312,000. The Cigna Group makes up 0.6% of Delta Investment Management LLC's portfolio, making the stock its 29th largest holding.

Several other institutional investors and hedge funds also recently modified their holdings of CI. Kesler Norman & Wride LLC increased its stake in shares of The Cigna Group by 1.8% in the fourth quarter. Kesler Norman & Wride LLC now owns 2,033 shares of the health services provider's stock valued at $562,000 after buying an additional 35 shares during the period. Hudson Edge Investment Partners Inc. raised its stake in shares of The Cigna Group by 1.9% in the fourth quarter. Hudson Edge Investment Partners Inc. now owns 1,883 shares of the health services provider's stock valued at $520,000 after buying an additional 36 shares during the period. Meridian Wealth Management LLC boosted its holdings in shares of The Cigna Group by 1.0% in the fourth quarter. Meridian Wealth Management LLC now owns 3,670 shares of the health services provider's stock worth $1,013,000 after acquiring an additional 37 shares during the period. Mindset Wealth Management LLC increased its holdings in The Cigna Group by 2.6% during the 4th quarter. Mindset Wealth Management LLC now owns 1,469 shares of the health services provider's stock worth $406,000 after acquiring an additional 37 shares during the period. Finally, Jacobi Capital Management LLC grew its position in The Cigna Group by 2.2% during the fourth quarter. Jacobi Capital Management LLC now owns 1,749 shares of the health services provider's stock worth $483,000 after buying an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on CI. Stephens reduced their price objective on The Cigna Group from $410.00 to $380.00 and set an "overweight" rating on the stock in a research report on Friday, January 31st. Sanford C. Bernstein downgraded shares of The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 price target for the company. in a research note on Thursday, February 6th. Wells Fargo & Company reduced their price objective on The Cigna Group from $370.00 to $341.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 4th. Mizuho boosted their target price on The Cigna Group from $360.00 to $384.00 and gave the company an "outperform" rating in a research note on Wednesday, April 9th. Finally, Robert W. Baird dropped their target price on The Cigna Group from $388.00 to $362.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $379.33.

Insider Activity

In related news, Director Elder Granger sold 2,376 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $310.35, for a total transaction of $737,391.60. Following the sale, the director now owns 5,471 shares in the company, valued at approximately $1,697,924.85. This represents a 30.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Noelle K. Eder sold 9,944 shares of the 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 in the company, valued at approximately $4,289,920. This represents a 42.59% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,751 shares of company stock worth $13,603,991. 0.70% of the stock is currently owned by insiders.

The Cigna Group Stock Performance

Shares of CI opened at $321.70 on Tuesday. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The business's fifty day simple moving average is $325.22 and its two-hundred day simple moving average is $309.91. The company has a market cap of $85.94 billion, a price-to-earnings ratio of 26.28, a P/E/G ratio of 0.98 and a beta of 0.47. 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 Cigna Group (NYSE:CI - Get Free Report) last posted 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 Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. The company had revenue of $65.45 billion for the quarter, compared to the consensus estimate of $60.39 billion. During the same quarter last year, the firm posted $6.47 earnings per share. The firm's revenue was up 14.4% compared to the same quarter last year. Research analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Tuesday, June 3rd. The Cigna Group's dividend payout ratio 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.

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