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

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

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Stonebridge Financial Planning Group LLC raised its stake in The Cigna Group by 5.1% during the fourth quarter. Stonebridge Financial Planning Group LLC now owns 987 shares of the health services provider's stock worth $273,000 after acquiring an additional 48 shares in the last quarter. Vise Technologies Inc. grew its holdings in shares of The Cigna Group by 66.3% in the 4th quarter. Vise Technologies Inc. now owns 4,019 shares of the health services provider's stock worth $1,110,000 after purchasing an additional 1,603 shares during the last quarter. City National Bank of Florida MSD acquired a new stake in shares of The Cigna Group during the 4th quarter worth about $208,000. JT Stratford LLC lifted its holdings in The Cigna Group by 117.4% during the 4th 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 during the last quarter. Finally, Highview Capital Management LLC DE acquired a new position in The Cigna Group in the fourth quarter valued at about $287,000. Institutional investors own 86.99% of the company's stock.

Insider Buying and Selling

In related news, CEO David Cordani sold 26,527 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $8,173,499.24. Following the transaction, the chief executive officer now directly owns 127,767 shares in the company, valued at $39,367,568.04. This trade represents a 17.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Nicole S. Jones sold 4,904 shares of The Cigna Group 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 completion of the sale, the insider now directly 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 43,751 shares of company stock valued at $13,603,991 over the last ninety days. 0.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Cantor Fitzgerald raised their price objective on shares of The Cigna Group from $350.00 to $365.00 and gave the stock an "overweight" rating in a report on Thursday, March 20th. Sanford C. Bernstein downgraded 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 report on Thursday, February 6th. Wall Street Zen raised The Cigna Group from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. Stephens lowered their target price on 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. Finally, Truist Financial lifted their price target on The Cigna Group from $385.00 to $405.00 and gave the company a "buy" rating in a report on Monday, May 12th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $379.33.

The Cigna Group Trading Down 0.7%

Shares of CI stock traded down $2.35 on Wednesday, hitting $312.93. The company had a trading volume of 365,597 shares, compared to its average volume of 1,710,538. The stock's 50-day moving average is $325.14 and its two-hundred day moving average is $309.96. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The firm has a market cap of $83.60 billion, a P/E ratio of 25.55, 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 (NYSE:CI - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share for the quarter, topping analysts' consensus estimates of $6.35 by $0.39. The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. The firm had revenue of $65.45 billion during the quarter, compared to the consensus estimate of $60.39 billion. During the same period last year, the business posted $6.47 EPS. The business's revenue was up 14.4% compared to the same quarter last year. On average, equities research analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

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. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.93%. The Cigna Group's payout ratio is presently 33.44%.

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.