Two Sigma Advisers LP Buys 600,300 Shares of The Cigna Group (NYSE:CI)

Two Sigma Advisers LP boosted its position in The Cigna Group (NYSE:CI - Free Report) by 278.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 816,200 shares of the health services provider's stock after purchasing an additional 600,300 shares during the quarter. Two Sigma Advisers LP owned approximately 0.29% of The Cigna Group worth $225,385,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of CI. TCTC Holdings LLC purchased a new position in The Cigna Group in the 4th quarter valued at $25,000. Collier Financial purchased a new position in shares of The Cigna Group in the 4th quarter valued at about $32,000. Compagnie Lombard Odier SCmA purchased a new stake in The Cigna Group during the fourth quarter worth approximately $37,000. Transce3nd LLC purchased a new stake in The Cigna Group during the fourth quarter worth approximately $38,000. Finally, Heck Capital Advisors LLC acquired a new position in The Cigna Group during the fourth quarter worth approximately $53,000. Institutional investors and hedge funds own 86.99% of the company's stock.

The Cigna Group Stock Down 1.4%

Shares of CI traded down $4.43 during midday trading on Thursday, hitting $312.66. The stock had a trading volume of 1,699,830 shares, compared to its average volume of 1,714,159. The company has a 50 day simple moving average of $325.56 and a two-hundred day simple moving average of $310.07. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The firm has a market cap of $83.53 billion, a price-to-earnings ratio of 25.54, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47. 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 data on Friday, May 2nd. The health services provider reported $6.74 earnings per share 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 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 Cigna Group's revenue for the quarter was up 14.4% compared to the same quarter last year. During the same quarter last year, the company earned $6.47 EPS. On average, analysts anticipate that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend is Tuesday, June 3rd. The Cigna Group's payout ratio is 33.44%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Mizuho upped their price objective on The Cigna Group from $360.00 to $384.00 and gave the stock an "outperform" rating in a report on Wednesday, April 9th. Guggenheim restated a "buy" rating and issued a $388.00 price objective (up from $384.00) on shares of The Cigna Group in a research report on Monday, May 5th. Piper Sandler upped their target price on The Cigna Group from $348.00 to $374.00 and gave the company an "overweight" rating in a research note 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. Finally, Raymond James reiterated a "strong-buy" rating and issued a $360.00 target price (down previously from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $379.33.

Insider Activity

In related news, CEO David Cordani sold 26,527 shares of The Cigna Group stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the completion of the transaction, the chief executive officer now owns 127,767 shares in the company, valued at approximately $39,367,568.04. This trade represents a 17.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Elder Granger sold 2,376 shares of The Cigna Group stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $310.35, for a total value of $737,391.60. Following the transaction, 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 sold 43,751 shares of company stock worth $13,603,991 in the last quarter. Corporate insiders own 0.70% of the company's stock.

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.