University of Texas Texas AM Investment Management Co. Purchases Shares of 12,982 The Cigna Group (NYSE:CI)

University of Texas Texas AM Investment Management Co. purchased a new position in The Cigna Group (NYSE:CI - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,982 shares of the health services provider's stock, valued at approximately $3,585,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CI. Vega Investment Solutions purchased a new position in The Cigna Group in the 4th quarter worth about $304,000. Stonebridge Financial Planning Group LLC increased its stake in shares of The Cigna Group by 5.1% in the fourth quarter. Stonebridge Financial Planning Group LLC now owns 987 shares of the health services provider's stock worth $273,000 after purchasing an additional 48 shares in the last quarter. Vise Technologies Inc. raised its holdings in The Cigna Group by 66.3% during the fourth quarter. Vise Technologies Inc. now owns 4,019 shares of the health services provider's stock valued at $1,110,000 after acquiring an additional 1,603 shares during the period. City National Bank of Florida MSD bought a new stake in shares of The Cigna Group during the fourth quarter valued at approximately $208,000. Finally, JT Stratford LLC grew its position in shares of The Cigna Group by 117.4% during the fourth quarter. JT Stratford LLC now owns 12,596 shares of the health services provider's stock valued at $3,478,000 after purchasing an additional 6,801 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company's stock.

Insider Activity

In other news, insider Nicole S. Jones sold 4,904 shares of The Cigna Group stock in a transaction 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 transaction, the insider now owns 29,421 shares of the company's stock, 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 this hyperlink. Also, insider Noelle K. Eder sold 9,944 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the completion of the sale, the insider now directly owns 13,406 shares in the company, valued at approximately $4,289,920. The trade was a 42.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 43,751 shares of company stock worth $13,603,991. Company insiders own 0.70% of the company's stock.

Wall Street Analyst Weigh In

CI has been the subject of a number of recent analyst reports. Raymond James reaffirmed a "strong-buy" rating and set a $360.00 price target (down from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Royal Bank of Canada set a $355.00 target price on shares of The Cigna Group in a research report on Friday, January 31st. Morgan Stanley raised their price target on shares of The Cigna Group from $379.00 to $390.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Stephens dropped their price objective on shares of The Cigna Group from $410.00 to $380.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. Finally, Guggenheim restated a "buy" rating and issued a $388.00 target price on shares of The Cigna Group in a research note on Friday. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $379.33.

The Cigna Group Stock Performance

Shares of The Cigna Group stock traded up $3.68 during trading hours on Monday, hitting $316.36. 1,667,838 shares of the company were exchanged, compared to its average volume of 1,716,406. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The business has a 50-day moving average of $325.35 and a 200-day moving average of $309.95. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The stock has a market capitalization of $84.51 billion, a price-to-earnings ratio of 25.85, a P/E/G ratio of 0.98 and a beta of 0.47.

The Cigna Group (NYSE:CI - Get Free Report) last released its earnings results on Friday, May 2nd. The health services provider reported $6.74 EPS 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 company had revenue of $65.45 billion during the quarter, compared to analysts' expectations of $60.39 billion. During the same quarter last year, the business earned $6.47 EPS. The business's revenue was up 14.4% on a year-over-year basis. As a group, analysts expect that The Cigna Group will post 29.77 EPS for the current fiscal 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 given a dividend of $1.51 per share. The ex-dividend date is Tuesday, June 3rd. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.91%. The Cigna Group's payout ratio is 33.44%.

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.