The Cigna Group (NYSE:CI) Shares Acquired by Versant Capital Management Inc

Versant Capital Management Inc raised its position in The Cigna Group (NYSE:CI - Free Report) by 236.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,966 shares of the health services provider's stock after acquiring an additional 1,382 shares during the quarter. Versant Capital Management Inc's holdings in The Cigna Group were worth $647,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC lifted its stake in The Cigna Group by 9.3% during the fourth quarter. Brighton Jones LLC now owns 3,736 shares of the health services provider's stock worth $1,032,000 after purchasing an additional 318 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of The Cigna Group by 61.5% in the fourth quarter. Pacer Advisors Inc. now owns 34,773 shares of the health services provider's stock valued at $9,602,000 after acquiring an additional 13,241 shares during the period. R Squared Ltd acquired a new position in The Cigna Group during the fourth quarter worth $69,000. Asset Dedication LLC boosted its holdings in The Cigna Group by 23.1% in the fourth quarter. Asset Dedication LLC now owns 1,419 shares of the health services provider's stock valued at $392,000 after acquiring an additional 266 shares during the last quarter. Finally, Strategic Blueprint LLC lifted its holdings in shares of The Cigna Group by 9.8% during the 4th quarter. Strategic Blueprint LLC now owns 805 shares of the health services provider's stock valued at $222,000 after purchasing an additional 72 shares in the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other The Cigna Group news, Director Elder Granger sold 2,376 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $310.35, for a total value of $737,391.60. Following the completion of the sale, the director now owns 5,471 shares in the company, valued at approximately $1,697,924.85. This represents a 30.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Noelle K. Eder sold 9,944 shares of The Cigna Group stock in a transaction that occurred on 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 transaction, 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. Corporate insiders own 0.70% of the company's stock.

The Cigna Group Stock Down 0.5%

Shares of NYSE CI traded down $1.53 during mid-day trading on Tuesday, reaching $311.95. 295,793 shares of the company traded hands, compared to its average volume of 1,690,041. The stock has a market cap of $83.34 billion, a PE ratio of 25.49, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47. The company's fifty day moving average is $324.70 and its two-hundred day moving average is $309.28. 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 has a fifty-two week low of $262.03 and a fifty-two week high of $370.83.

The Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, topping analysts' consensus estimates of $6.35 by $0.39. The business had revenue of $65.45 billion during the quarter, compared to analysts' expectations of $60.39 billion. The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. The firm's quarterly revenue was up 14.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.47 earnings per share. On average, analysts expect that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be given a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 1.94%. The ex-dividend date is Tuesday, June 3rd. The Cigna Group's dividend payout ratio (DPR) is presently 33.44%.

Analysts Set New Price Targets

A number of research firms have recently commented on CI. UBS Group lowered their price target on The Cigna Group from $410.00 to $390.00 and set a "buy" rating for the company in a report on Monday, February 3rd. Cantor Fitzgerald increased their target price on The Cigna Group from $350.00 to $365.00 and gave the company an "overweight" rating in a report on Thursday, March 20th. Mizuho raised their price objective on The Cigna Group from $360.00 to $384.00 and gave the company an "outperform" rating in a research report on Wednesday, April 9th. Truist Financial boosted their price objective on The Cigna Group from $385.00 to $405.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Finally, Morgan Stanley boosted their target price on The Cigna Group from $379.00 to $390.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $380.39.

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.