Voloridge Investment Management LLC Increases Stake in The Cigna Group (NYSE:CI)

Voloridge Investment Management LLC lifted its stake in shares of The Cigna Group (NYSE:CI - Free Report) by 400.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 643,253 shares of the health services provider's stock after buying an additional 514,841 shares during the quarter. The Cigna Group comprises 0.6% of Voloridge Investment Management LLC's portfolio, making the stock its 16th largest position. Voloridge Investment Management LLC owned approximately 0.23% of The Cigna Group worth $177,628,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Two Sigma Investments LP grew its holdings in The Cigna Group by 32.6% in the fourth quarter. Two Sigma Investments LP now owns 764,900 shares of the health services provider's stock worth $211,219,000 after purchasing an additional 188,235 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. lifted its stake in shares of The Cigna Group by 1.1% in the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider's stock worth $20,942,000 after buying an additional 858 shares in the last quarter. Valley Wealth Managers Inc. lifted its stake in shares of The Cigna Group by 2.8% in the fourth quarter. Valley Wealth Managers Inc. now owns 56,933 shares of the health services provider's stock worth $15,721,000 after buying an additional 1,548 shares in the last quarter. Humankind Investments LLC lifted its stake in shares of The Cigna Group by 12.1% in the fourth quarter. Humankind Investments LLC now owns 5,294 shares of the health services provider's stock worth $1,462,000 after buying an additional 571 shares in the last quarter. Finally, KBC Group NV lifted its stake in shares of The Cigna Group by 1.5% in the fourth quarter. KBC Group NV now owns 550,638 shares of the health services provider's stock worth $152,053,000 after buying an additional 8,077 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Wells Fargo & Company dropped their target price on shares of The Cigna Group from $370.00 to $341.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 4th. Oppenheimer dropped their target price on shares of 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. Mizuho upped their target price on shares of The Cigna Group from $360.00 to $384.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 9th. Morgan Stanley increased their price objective on shares of The Cigna Group from $379.00 to $390.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Finally, Piper Sandler increased their price objective on shares of The Cigna Group from $348.00 to $374.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. 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. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $379.33.

Insider Transactions at The Cigna Group

In related news, insider Noelle K. Eder sold 9,944 shares of the firm's stock in a transaction 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 completion of the transaction, the insider now directly owns 13,406 shares of the company's stock, valued at approximately $4,289,920. This trade represents a 42.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Elder Granger sold 2,376 shares of the firm's stock in a transaction on Friday, March 14th. The shares were 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 of the company's stock, 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. Insiders sold a total of 43,751 shares of company stock valued at $13,603,991 over the last three months. Corporate insiders own 0.70% of the company's stock.

The Cigna Group Stock Up 0.2%

Shares of CI stock opened at $321.70 on Tuesday. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The stock has a market cap of $85.94 billion, a P/E ratio of 26.28, a P/E/G ratio of 0.98 and a beta of 0.47. 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 company has a 50 day simple moving average of $325.22 and a two-hundred day simple moving average of $309.91.

The Cigna Group (NYSE:CI - Get Free Report) last announced its 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 business had revenue of $65.45 billion during the quarter, compared to analysts' expectations of $60.39 billion. During the same period in the prior year, the company earned $6.47 earnings per share. The firm's revenue was up 14.4% on a year-over-year basis. On average, research analysts expect that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be paid a $1.51 dividend. The ex-dividend date is Tuesday, June 3rd. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.88%. The Cigna Group's dividend payout ratio (DPR) 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.

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