Gotham Asset Management LLC boosted its holdings in shares of The Cigna Group (NYSE:CI - Free Report) by 48.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 74,820 shares of the health services provider's stock after purchasing an additional 24,508 shares during the period. Gotham Asset Management LLC's holdings in The Cigna Group were worth $20,661,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Sterling Financial Group Inc. bought a new position in The Cigna Group during the 4th quarter valued at about $4,367,000. Principal Financial Group Inc. raised its holdings in The Cigna Group by 3.6% during the 3rd quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider's stock worth $112,216,000 after buying an additional 11,228 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. boosted its position in shares of The Cigna Group by 1.1% during 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 during the period. Valley Wealth Managers Inc. increased its stake in The Cigna Group by 2.8% in the 4th quarter. Valley Wealth Managers Inc. now owns 56,933 shares of the health services provider's stock valued at $15,721,000 after buying an additional 1,548 shares during the last quarter. Finally, KBC Group NV increased its holdings in The Cigna Group by 1.5% during 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 during the last quarter. Hedge funds and other institutional investors own 86.99% of the company's stock.
The Cigna Group Trading Down 2.7%
NYSE CI traded down $8.41 during mid-day trading on Tuesday, reaching $307.33. 573,536 shares of the stock were exchanged, compared to its average volume of 1,700,240. The stock has a 50 day simple moving average of $325.94 and a 200-day simple moving average of $310.00. The stock has a market cap of $82.10 billion, a P/E ratio of 25.09, 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 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 firm had revenue of $65.45 billion during the quarter, compared to analyst estimates of $60.39 billion. The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. The business's revenue for the quarter was up 14.4% on a year-over-year basis. During the same period in the previous year, the business earned $6.47 EPS. On average, analysts anticipate that The Cigna Group will post 29.77 EPS for the current year.
The Cigna Group Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be paid a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 1.97%. The ex-dividend date is Tuesday, June 3rd. The Cigna Group's dividend payout ratio is presently 33.44%.
Insider Buying and Selling at The Cigna Group
In other The Cigna Group news, CEO David Cordani sold 26,527 shares of The Cigna Group 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 sale, the chief executive officer now owns 127,767 shares in the company, valued at $39,367,568.04. The trade was a 17.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Noelle K. Eder sold 9,944 shares of The Cigna Group stock in a transaction on Friday, March 7th. The shares were sold at an average price of $320.00, for a total value of $3,182,080.00. Following the completion of the transaction, the insider now 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 disclosure for this sale can be found here. Insiders sold a total of 43,751 shares of company stock valued at $13,603,991 in the last ninety days. Corporate insiders own 0.70% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on the company. Piper Sandler lifted their target price on The Cigna Group from $348.00 to $374.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Royal Bank of Canada set a $355.00 price target on shares of The Cigna Group in a research note on Friday, January 31st. Cowen reaffirmed a "buy" rating on shares of The Cigna Group in a research report on Monday, May 5th. Truist Financial lifted their price objective on shares of The Cigna Group from $385.00 to $405.00 and gave the stock a "buy" rating in a research report on Monday. Finally, Cantor Fitzgerald increased their price objective on The Cigna Group from $350.00 to $365.00 and gave the stock an "overweight" rating in a report on Thursday, March 20th. Two 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. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $379.33.
Check Out Our Latest Stock Analysis on The Cigna Group
About The Cigna Group
(
Free Report)
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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