Vega Investment Solutions Makes New $304,000 Investment in The Cigna Group (NYSE:CI)

Vega Investment Solutions purchased a new stake in The Cigna Group (NYSE:CI - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 1,100 shares of the health services provider's stock, valued at approximately $304,000.

A number of other hedge funds have also recently modified their holdings of CI. Kesler Norman & Wride LLC lifted its holdings in shares of The Cigna Group by 1.8% in the 4th quarter. Kesler Norman & Wride LLC now owns 2,033 shares of the health services provider's stock valued at $562,000 after purchasing an additional 35 shares during the last quarter. Hudson Edge Investment Partners Inc. lifted its holdings in shares of The Cigna Group by 1.9% in the fourth quarter. Hudson Edge Investment Partners Inc. now owns 1,883 shares of the health services provider's stock valued at $520,000 after purchasing an additional 36 shares in the last quarter. Meridian Wealth Management LLC lifted its holdings in shares of The Cigna Group by 1.0% in the fourth quarter. Meridian Wealth Management LLC now owns 3,670 shares of the health services provider's stock valued at $1,013,000 after purchasing an additional 37 shares in the last quarter. Mindset Wealth Management LLC lifted its holdings in shares of The Cigna Group by 2.6% in the fourth quarter. Mindset Wealth Management LLC now owns 1,469 shares of the health services provider's stock valued at $406,000 after purchasing an additional 37 shares in the last quarter. Finally, Jacobi Capital Management LLC lifted its stake in shares of The Cigna Group by 2.2% during the fourth quarter. Jacobi Capital Management LLC now owns 1,749 shares of the health services provider's stock valued at $483,000 after buying an additional 38 shares during the period. Institutional investors own 86.99% of the company's stock.

Insider Buying and Selling

In related news, insider Nicole S. Jones sold 4,904 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the transaction, the insider now owns 29,421 shares of the company's stock, valued at approximately $9,065,198.52. The trade was a 14.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Elder Granger sold 2,376 shares of the business's stock in a transaction 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 transaction, the director now directly owns 5,471 shares in the company, valued at $1,697,924.85. This trade represents a 30.28% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,751 shares of company stock valued at $13,603,991. 0.70% of the stock is owned by company insiders.

The Cigna Group Stock Down 0.2%

CI traded down $0.74 during midday trading on Tuesday, hitting $315.25. 1,477,697 shares of the company's stock traded hands, compared to its average volume of 1,715,451. The company has a market cap of $84.22 billion, a PE ratio of 25.76, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47. The stock's fifty day simple moving average is $325.26 and its 200-day simple moving average is $309.92. 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 has a one year low of $262.03 and a one year high of $370.83.

The Cigna Group (NYSE:CI - Get Free Report) last released its quarterly 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 company had revenue of $65.45 billion for the quarter, compared to analyst estimates of $60.39 billion. During the same quarter last year, the firm posted $6.47 earnings per share. The company's quarterly revenue was up 14.4% compared to the same quarter last year. As a group, equities analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date is Tuesday, June 3rd. The Cigna Group's dividend payout ratio (DPR) is currently 33.44%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Cantor Fitzgerald upped their price target on shares of The Cigna Group from $350.00 to $365.00 and gave the stock an "overweight" rating in a research report on Thursday, March 20th. Barclays raised their price target on shares of The Cigna Group from $339.00 to $382.00 and gave the stock an "overweight" rating in a research 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. Robert W. Baird lowered their target price on shares of The Cigna Group from $388.00 to $362.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Finally, Royal Bank of Canada set a $355.00 price objective on shares of The Cigna Group in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, The Cigna Group has an average rating of "Buy" and a consensus target price of $379.33.

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.