Two Sigma Investments LP Acquires 188,235 Shares of The Cigna Group (NYSE:CI)

Two Sigma Investments LP boosted its holdings in The Cigna Group (NYSE:CI - Free Report) by 32.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 764,900 shares of the health services provider's stock after buying an additional 188,235 shares during the period. Two Sigma Investments LP owned approximately 0.27% of The Cigna Group worth $211,219,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Hennion & Walsh Asset Management Inc. raised its holdings in shares of The Cigna Group by 35.4% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 1,068 shares of the health services provider's stock worth $295,000 after acquiring an additional 279 shares during the period. Merit Financial Group LLC grew its position in The Cigna Group by 15.7% in the fourth quarter. Merit Financial Group LLC now owns 2,333 shares of the health services provider's stock valued at $644,000 after purchasing an additional 316 shares in the last quarter. Arkadios Wealth Advisors grew its position in The Cigna Group by 3.8% in the fourth quarter. Arkadios Wealth Advisors now owns 4,031 shares of the health services provider's stock valued at $1,113,000 after purchasing an additional 149 shares in the last quarter. Premier Path Wealth Partners LLC grew its position in The Cigna Group by 32.7% in the fourth quarter. Premier Path Wealth Partners LLC now owns 2,200 shares of the health services provider's stock valued at $608,000 after purchasing an additional 542 shares in the last quarter. Finally, Aaron Wealth Advisors LLC grew its position in The Cigna Group by 16.5% in the fourth quarter. Aaron Wealth Advisors LLC now owns 1,397 shares of the health services provider's stock valued at $386,000 after purchasing an additional 198 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CI shares. Oppenheimer decreased their target price on shares of The Cigna Group from $400.00 to $375.00 and set an "outperform" rating for the company in a research report on Friday, January 31st. Raymond James reissued a "strong-buy" rating and issued a $360.00 price objective (down previously from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Morgan Stanley lifted their price objective on shares of 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 raised shares of The Cigna Group from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. Finally, Guggenheim reissued a "buy" rating and issued a $388.00 price objective on shares of The Cigna Group in a research report on Friday. Two 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $379.33.

The Cigna Group Stock Performance

The Cigna Group stock traded up $3.68 during midday trading on Friday, hitting $316.36. The company's stock had a trading volume of 1,667,838 shares, compared to its average volume of 1,714,787. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. 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 company has a 50-day moving average price of $325.35 and a two-hundred day moving average price of $310.06. The company has a market cap of $84.51 billion, a price-to-earnings ratio of 25.85, a PEG ratio of 0.98 and a beta of 0.47.

The Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $60.39 billion. During the same quarter in the previous year, the company earned $6.47 EPS. The business's revenue was up 14.4% on a year-over-year basis. As a group, sell-side analysts predict that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Announces Dividend

The firm 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 $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend is Tuesday, June 3rd. The Cigna Group's dividend payout ratio (DPR) is 33.44%.

Insiders Place Their Bets

In other news, CEO David Cordani sold 26,527 shares of the business'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 transaction, the chief executive officer now directly owns 127,767 shares in the company, valued at approximately $39,367,568.04. The trade was a 17.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Elder Granger sold 2,376 shares of the business's stock in a transaction that occurred on 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 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 ownership of the stock. 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. 0.70% of the stock is currently owned by corporate insiders.

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.