The Cigna Group (NYSE:CI) Shares Purchased by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC boosted its holdings in The Cigna Group (NYSE:CI - Free Report) by 170.5% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 3,684 shares of the health services provider's stock after buying an additional 2,322 shares during the period. Pallas Capital Advisors LLC's holdings in The Cigna Group were worth $1,212,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Moody National Bank Trust Division grew its stake in The Cigna Group by 0.7% during the first quarter. Moody National Bank Trust Division now owns 4,587 shares of the health services provider's stock worth $1,509,000 after buying an additional 34 shares in the last quarter. Kesler Norman & Wride LLC grew its stake in The Cigna Group by 1.8% during the fourth quarter. Kesler Norman & Wride LLC now owns 2,033 shares of the health services provider's stock worth $562,000 after purchasing an additional 35 shares during the period. Wynn Capital LLC increased its position in The Cigna Group by 1.0% in the 1st quarter. Wynn Capital LLC now owns 3,451 shares of the health services provider's stock valued at $1,135,000 after buying an additional 35 shares in the last quarter. Hudson Edge Investment Partners Inc. raised its holdings in The Cigna Group by 1.9% during the fourth quarter. Hudson Edge Investment Partners Inc. now owns 1,883 shares of the health services provider's stock worth $520,000 after buying an additional 36 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC grew its stake in shares of The Cigna Group by 2.3% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,626 shares of the health services provider's stock worth $535,000 after acquiring an additional 36 shares in the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at The Cigna Group

In related news, Director Elder Granger sold 2,376 shares of the company's stock in a transaction dated 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 sale, the director now owns 5,471 shares of the company's stock, valued at approximately $1,697,924.85. This represents a 30.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.70% of the stock is currently owned by corporate insiders.

The Cigna Group Price Performance

Shares of CI traded up $2.74 during mid-day trading on Thursday, reaching $312.94. 751,111 shares of the stock traded hands, compared to its average volume of 1,705,268. The firm has a fifty day moving average price of $322.23 and a 200 day moving average price of $308.82. The company has a market cap of $83.60 billion, a price-to-earnings ratio of 25.57, a price-to-earnings-growth ratio of 0.98 and a beta of 0.44. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. 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 released its earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share for the quarter, topping analysts' consensus estimates of $6.35 by $0.39. The firm had revenue of $65.45 billion for the quarter, compared to the consensus estimate of $60.39 billion. The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. The company's revenue was up 14.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.47 EPS. As a group, equities research analysts predict that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be paid a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.93%. The ex-dividend date is Tuesday, June 3rd. The Cigna Group's payout ratio is 33.44%.

Analysts Set New Price Targets

Several equities analysts have recently commented on CI shares. Morgan Stanley increased their price objective on The Cigna Group from $379.00 to $390.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Wall Street Zen upgraded The Cigna Group from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. Piper Sandler upped their price objective on The Cigna Group from $348.00 to $374.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Guggenheim reaffirmed a "buy" rating and issued a $388.00 price target on shares of The Cigna Group in a research note on Friday, May 23rd. Finally, Barclays reiterated an "overweight" rating and issued a $385.00 target price (up from $382.00) on shares of The Cigna Group in a report on Monday, June 2nd. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, The Cigna Group currently has an average rating of "Buy" and an average target price of $380.39.

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.