Meridiem Capital Partners LP Buys Shares of 8,569 The Cigna Group (NYSE:CI)

Meridiem Capital Partners LP bought a new stake in The Cigna Group (NYSE:CI - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 8,569 shares of the health services provider's stock, valued at approximately $2,366,000.

Other large investors have also recently made changes to their positions in the company. Kesler Norman & Wride LLC increased its position in shares of The Cigna Group by 1.8% in the 4th quarter. Kesler Norman & Wride LLC now owns 2,033 shares of the health services provider's stock valued at $562,000 after purchasing an additional 35 shares during the last quarter. Hudson Edge Investment Partners Inc. grew its position in The Cigna Group by 1.9% during the 4th quarter. Hudson Edge Investment Partners Inc. now owns 1,883 shares of the health services provider's stock worth $520,000 after purchasing an additional 36 shares during the last quarter. Meridian Wealth Management LLC grew its position in The Cigna Group by 1.0% during the 4th quarter. Meridian Wealth Management LLC now owns 3,670 shares of the health services provider's stock worth $1,013,000 after purchasing an additional 37 shares during the last quarter. Mindset Wealth Management LLC grew its position in The Cigna Group by 2.6% during the 4th quarter. Mindset Wealth Management LLC now owns 1,469 shares of the health services provider's stock worth $406,000 after purchasing an additional 37 shares during the last quarter. Finally, Jacobi Capital Management LLC lifted its stake in shares of The Cigna Group by 2.2% in the 4th quarter. Jacobi Capital Management LLC now owns 1,749 shares of the health services provider's stock worth $483,000 after acquiring an additional 38 shares during the period. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other 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 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 approximately $39,367,568.04. This represents a 17.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Nicole S. Jones sold 4,904 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 $1,511,020.48. Following the sale, the insider now directly owns 29,421 shares in the company, valued at approximately $9,065,198.52. This trade represents a 14.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,751 shares of company stock worth $13,603,991 in the last 90 days. Company insiders own 0.70% of the company's stock.

The Cigna Group Stock Down 5.5%

CI opened at $315.23 on Tuesday. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The stock's fifty day simple moving average is $325.94 and its 200 day simple moving average is $310.00. 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 stock has a market cap of $84.21 billion, a PE ratio of 25.75, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47.

The Cigna Group (NYSE:CI - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 earnings per share for the quarter, topping the consensus estimate of $6.35 by $0.39. The firm had revenue of $65.45 billion for 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 company's quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter last year, the business earned $6.47 EPS. As a group, 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. Shareholders of record on Tuesday, June 3rd will be given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.92%. The ex-dividend date is Tuesday, June 3rd. The Cigna Group's payout ratio is 33.44%.

Wall Street Analyst Weigh In

CI has been the subject of several recent analyst reports. Raymond James reiterated a "strong-buy" rating and issued a $360.00 price objective (down previously from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. 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 for the company in a report on Tuesday, February 4th. Sanford C. Bernstein downgraded shares of The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 target price for the company. in a report on Thursday, February 6th. Piper Sandler raised their target price on shares of The Cigna Group from $348.00 to $374.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Finally, Cantor Fitzgerald lifted their price target 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. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $379.33.

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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