Two Sigma Advisers LP increased its position in shares of The Cigna Group (NYSE:CI - Free Report) by 278.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 816,200 shares of the health services provider's stock after buying an additional 600,300 shares during the quarter. Two Sigma Advisers LP owned 0.29% of The Cigna Group worth $225,385,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Hennion & Walsh Asset Management Inc. grew its stake in shares of The Cigna Group by 35.4% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 1,068 shares of the health services provider's stock valued at $295,000 after buying an additional 279 shares in the last quarter. Merit Financial Group LLC increased its position in The Cigna Group by 15.7% during the 4th quarter. Merit Financial Group LLC now owns 2,333 shares of the health services provider's stock worth $644,000 after buying an additional 316 shares during the period. Arkadios Wealth Advisors increased its position in The Cigna Group by 3.8% during the 4th quarter. Arkadios Wealth Advisors now owns 4,031 shares of the health services provider's stock worth $1,113,000 after buying an additional 149 shares during the period. Premier Path Wealth Partners LLC increased its position in The Cigna Group by 32.7% during the 4th quarter. Premier Path Wealth Partners LLC now owns 2,200 shares of the health services provider's stock worth $608,000 after buying an additional 542 shares during the period. Finally, Aaron Wealth Advisors LLC increased its position in The Cigna Group by 16.5% during the 4th quarter. Aaron Wealth Advisors LLC now owns 1,397 shares of the health services provider's stock worth $386,000 after buying an additional 198 shares during the period. 86.99% of the stock is currently owned by institutional investors.
Insider Transactions at The Cigna Group
In related news, insider Nicole S. Jones sold 4,904 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $1,511,020.48. Following the completion of the sale, the insider now owns 29,421 shares in the company, valued at $9,065,198.52. The trade was a 14.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Elder Granger sold 2,376 shares of the business's stock in a transaction that occurred on Friday, March 14th. The stock was 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 of the company's stock, valued at $1,697,924.85. The trade was a 30.28% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,751 shares of company stock valued at $13,603,991 in the last quarter. Insiders own 0.70% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms have weighed in on CI. Wells Fargo & Company lowered 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 report on Tuesday, February 4th. Guggenheim reiterated a "buy" rating and issued a $388.00 price target on shares of The Cigna Group in a research note on Friday. Cantor Fitzgerald boosted their price target on The Cigna Group from $350.00 to $365.00 and gave the company an "overweight" rating in a research note on Thursday, March 20th. Raymond James reiterated a "strong-buy" rating and issued a $360.00 price target (down from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Finally, Oppenheimer cut their price target on The Cigna Group from $400.00 to $375.00 and set an "outperform" rating for the company in a research note on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $379.33.
Read Our Latest Stock Analysis on CI
The Cigna Group Stock Performance
Shares of CI traded up $3.68 during mid-day trading on Friday, hitting $316.36. The stock had a trading volume of 1,667,838 shares, compared to its average volume of 1,714,787. The firm has a market cap of $84.51 billion, a P/E ratio of 25.85, a PEG ratio of 0.98 and a beta of 0.47. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. The business has a fifty day moving average price of $325.35 and a 200-day moving average price of $310.06. 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 posted its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.35 by $0.39. The company 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 firm's quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter last year, the company earned $6.47 earnings per share. On average, equities research analysts expect that The Cigna Group will post 29.77 EPS for the current year.
The Cigna Group Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Tuesday, June 3rd. The Cigna Group's payout ratio is 33.44%.
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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