Total Wealth Planning & Management Inc. purchased a new stake in shares of The Cigna Group (NYSE:CI - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 1,454 shares of the health services provider's stock, valued at approximately $402,000.
Several other institutional investors have also recently made changes to their positions in CI. Two Sigma Investments LP grew its stake in shares of The Cigna Group by 32.6% during the fourth quarter. Two Sigma Investments LP now owns 764,900 shares of the health services provider's stock worth $211,219,000 after purchasing an additional 188,235 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. grew its stake in shares of The Cigna Group by 1.1% during the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider's stock worth $20,942,000 after purchasing an additional 858 shares in the last quarter. Valley Wealth Managers Inc. grew its stake in shares of The Cigna Group by 2.8% during the fourth quarter. Valley Wealth Managers Inc. now owns 56,933 shares of the health services provider's stock worth $15,721,000 after purchasing an additional 1,548 shares in the last quarter. Humankind Investments LLC grew its stake in shares of The Cigna Group by 12.1% during the fourth quarter. Humankind Investments LLC now owns 5,294 shares of the health services provider's stock worth $1,462,000 after purchasing an additional 571 shares in the last quarter. Finally, KBC Group NV boosted its stake in The Cigna Group by 1.5% in the fourth quarter. KBC Group NV now owns 550,638 shares of the health services provider's stock valued at $152,053,000 after acquiring an additional 8,077 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 research firms have issued reports on CI. Sanford C. Bernstein downgraded shares of The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 price objective for the company. in a research note on Thursday, February 6th. Truist Financial upped their price objective on shares of The Cigna Group from $385.00 to $405.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Stephens decreased their price objective on shares of The Cigna Group from $410.00 to $380.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. Oppenheimer decreased their price objective on shares of 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. Finally, Barclays upped their target price on shares of The Cigna Group from $339.00 to $382.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $379.33.
Check Out Our Latest Stock Analysis on CI
Insider Buying and Selling
In other news, insider Noelle K. Eder sold 9,944 shares of The Cigna Group stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $320.00, for a total value of $3,182,080.00. Following the completion of the transaction, the insider now directly owns 13,406 shares of the company's stock, valued at approximately $4,289,920. The trade was a 42.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Nicole S. Jones sold 4,904 shares of the company'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 transaction of $1,511,020.48. Following the completion of the sale, the insider now directly owns 29,421 shares of the company's stock, valued at approximately $9,065,198.52. This represents a 14.29% decrease in their ownership of the stock. 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. Company insiders own 0.70% of the company's stock.
The Cigna Group Trading Up 0.3%
Shares of CI stock traded up $0.97 during mid-day trading on Thursday, reaching $311.83. The company's stock had a trading volume of 1,745,696 shares, compared to its average volume of 1,709,941. The company's 50 day simple moving average is $325.02 and its 200-day simple moving average is $309.96. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $83.30 billion, a PE ratio of 25.48, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47.
The Cigna Group (NYSE:CI - Get Free Report) last issued its earnings results on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, beating 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 business 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 EPS. The business's revenue for the quarter was up 14.4% compared to the same quarter last year. On average, research analysts predict that The Cigna Group will post 29.77 EPS 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. Investors 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 1.94%. The ex-dividend date of this dividend is Tuesday, June 3rd. The Cigna Group's dividend payout ratio (DPR) is 33.44%.
About The Cigna Group
(
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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