Vident Advisory LLC Increases Position in The Cigna Group (NYSE:CI)

Vident Advisory LLC grew its holdings in The Cigna Group (NYSE:CI - Free Report) by 216.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,370 shares of the health services provider's stock after purchasing an additional 11,883 shares during the period. Vident Advisory LLC's holdings in The Cigna Group were worth $4,797,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of CI. TCTC Holdings LLC bought a new stake in shares of The Cigna Group in the 4th quarter worth $25,000. Collier Financial purchased a new position in shares of The Cigna Group in the 4th quarter worth $32,000. Compagnie Lombard Odier SCmA purchased a new position in shares of The Cigna Group in the 4th quarter worth $37,000. Transce3nd LLC purchased a new position in shares of The Cigna Group in the 4th quarter worth $38,000. Finally, Heck Capital Advisors LLC purchased a new position in shares of The Cigna Group in the 4th quarter worth $53,000. Institutional investors own 86.99% of the company's stock.

The Cigna Group Price Performance

NYSE:CI traded up $3.68 on Friday, reaching $316.36. 1,667,838 shares of the company's stock traded hands, compared to its average volume of 1,714,787. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70. The stock has a 50-day simple moving average of $325.35 and a 200-day simple moving average of $310.06. The firm has a market cap of $84.51 billion, a PE ratio of 25.85, a P/E/G ratio of 0.98 and a beta of 0.47. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83.

The Cigna Group (NYSE:CI - Get Free Report) last issued its earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $60.39 billion. During the same period in the previous year, the firm posted $6.47 earnings per share. The business's revenue was up 14.4% compared to the same quarter last year. Equities research analysts forecast that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be issued a $1.51 dividend. The ex-dividend date is Tuesday, June 3rd. This represents a $6.04 annualized dividend and a dividend yield of 1.91%. The Cigna Group's dividend payout ratio (DPR) is 33.44%.

Insider Transactions at The Cigna Group

In other The Cigna Group news, CEO David Cordani sold 26,527 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the sale, the chief executive officer now directly owns 127,767 shares of the company's stock, valued at $39,367,568.04. The trade was a 17.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Elder Granger sold 2,376 shares of the business's stock in a transaction that occurred 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 sale, the director now directly owns 5,471 shares in the company, 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. Over the last three months, insiders have sold 43,751 shares of company stock valued at $13,603,991. 0.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CI. Royal Bank of Canada set a $355.00 price target on The Cigna Group in a research note on Friday, January 31st. Sanford C. Bernstein downgraded The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 price target on the stock. in a research note on Thursday, February 6th. Cantor Fitzgerald raised their price target on The Cigna Group from $350.00 to $365.00 and gave the stock an "overweight" rating in a research note on Thursday, March 20th. Morgan Stanley raised their price target on The Cigna Group from $379.00 to $390.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Finally, Oppenheimer dropped their price target on The Cigna Group from $400.00 to $375.00 and set an "outperform" rating on the stock in a research note on Friday, January 31st. Two investment 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. According to MarketBeat.com, The Cigna Group currently has a consensus rating of "Buy" and an average target price of $379.33.

About The Cigna Group

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.