Tidal Investments LLC Boosts Holdings in The Cigna Group (NYSE:CI)

Tidal Investments LLC raised its stake in The Cigna Group (NYSE:CI - Free Report) by 36.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,210 shares of the health services provider's stock after acquiring an additional 5,690 shares during the period. Tidal Investments LLC's holdings in The Cigna Group were worth $5,857,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. TCTC Holdings LLC bought a new stake in shares of The Cigna Group in the 4th quarter worth about $25,000. Collier Financial bought a new stake in shares of The Cigna Group in the 4th quarter worth about $32,000. Compagnie Lombard Odier SCmA bought a new stake in shares of The Cigna Group in the 4th quarter worth about $37,000. Transce3nd LLC bought a new stake in shares of The Cigna Group in the 4th quarter worth about $38,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of The Cigna Group in the 4th quarter worth about $53,000. 86.99% of the stock is currently owned by institutional investors.

Insider Transactions at The Cigna Group

In other news, CEO David Cordani sold 26,527 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $8,173,499.24. Following the completion of the sale, the chief executive officer now owns 127,767 shares of the company's stock, valued at approximately $39,367,568.04. This represents a 17.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Elder Granger sold 2,376 shares of the company'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 transaction of $737,391.60. Following the completion of the sale, the director now directly 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. In the last quarter, insiders 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 Trading Up 1.2%

The Cigna Group stock traded up $3.68 during trading hours on Friday, hitting $316.36. The company had a trading volume of 1,667,838 shares, compared to its average volume of 1,716,406. The firm has a market cap of $84.51 billion, a P/E ratio of 25.85, a P/E/G ratio of 0.98 and a beta of 0.47. 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 1 year low of $262.03 and a 1 year high of $370.83. The company has a 50-day moving average price of $325.35 and a two-hundred day moving average price of $310.02.

The Cigna Group (NYSE:CI - Get Free Report) last released 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 analysts' expectations of $60.39 billion. The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. The firm's quarterly revenue was up 14.4% on a year-over-year basis. During the same period in the previous year, the company earned $6.47 EPS. On average, sell-side analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be given a $1.51 dividend. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $6.04 annualized dividend and a dividend yield of 1.91%. The Cigna Group's payout ratio is presently 33.44%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Barclays boosted their target price on shares of The Cigna Group from $339.00 to $382.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Oppenheimer reduced their target price on shares of The Cigna Group from $400.00 to $375.00 and set an "outperform" rating on the stock in a report on Friday, January 31st. Wells Fargo & Company cut their price target on shares of The Cigna Group from $370.00 to $341.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 4th. UBS Group cut their price target 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. Finally, Royal Bank of Canada set a $355.00 price target on shares of The Cigna Group in a report on Friday, January 31st. Two 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. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $379.33.

The Cigna Group 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.