58,170 Shares in The Cigna Group (NYSE:CI) Acquired by Moore Capital Management LP

Moore Capital Management LP acquired a new stake in shares of The Cigna Group (NYSE:CI - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 58,170 shares of the health services provider's stock, valued at approximately $16,063,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jefferies Financial Group Inc. raised its holdings in shares of The Cigna Group by 184.8% during the fourth quarter. Jefferies Financial Group Inc. now owns 20,037 shares of the health services provider's stock valued at $5,533,000 after acquiring an additional 13,001 shares in the last quarter. Humankind Investments LLC raised its stake in The Cigna Group by 12.1% during the fourth quarter. Humankind Investments LLC now owns 5,294 shares of the health services provider's stock valued at $1,462,000 after buying an additional 571 shares during the last quarter. Gotham Asset Management LLC grew its position in The Cigna Group by 48.7% during the 4th quarter. Gotham Asset Management LLC now owns 74,820 shares of the health services provider's stock valued at $20,661,000 after purchasing an additional 24,508 shares during the last quarter. Focus Partners Wealth raised its holdings in The Cigna Group by 11.6% in the 4th quarter. Focus Partners Wealth now owns 23,808 shares of the health services provider's stock worth $6,579,000 after acquiring an additional 2,483 shares during the last quarter. Finally, Ensign Peak Advisors Inc boosted its position in shares of The Cigna Group by 17.5% during the fourth quarter. Ensign Peak Advisors Inc now owns 400,921 shares of the health services provider's stock valued at $110,710,000 after buying an additional 59,587 shares during the last quarter. Institutional investors own 86.99% of the company's stock.

The Cigna Group Trading Up 1.7%

Shares of NYSE:CI traded up $5.12 on Thursday, hitting $308.47. 2,661,371 shares of the company's stock were exchanged, compared to its average volume of 1,715,855. The business's 50 day simple moving average is $325.30 and its two-hundred day simple moving average is $309.89. 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 stock has a market capitalization of $82.41 billion, a price-to-earnings ratio of 25.20, a price-to-earnings-growth 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 posted its quarterly earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $65.45 billion during the quarter, compared to the consensus estimate of $60.39 billion. During the same quarter in the previous year, the firm posted $6.47 earnings per share. The company's revenue was up 14.4% on a year-over-year basis. Analysts anticipate that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be issued a $1.51 dividend. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $6.04 annualized dividend and a dividend yield of 1.96%. The Cigna Group's payout ratio is currently 33.44%.

Insider Buying and Selling

In other news, CEO David Cordani sold 26,527 shares of the business's 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 completion of the transaction, the chief executive officer now directly owns 127,767 shares of the company's stock, valued at approximately $39,367,568.04. The trade was a 17.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Noelle K. Eder sold 9,944 shares of the firm's stock in a transaction dated 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 sale, 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 position. 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. 0.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CI shares. Raymond James reissued a "strong-buy" rating and set a $360.00 price target (down from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Stephens cut their target price on The Cigna Group from $410.00 to $380.00 and set an "overweight" rating for the company in a research report on Friday, January 31st. Truist Financial raised 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. Cantor Fitzgerald lifted their price objective on shares of The Cigna Group from $350.00 to $365.00 and gave the stock an "overweight" rating in a research note on Thursday, March 20th. Finally, Morgan Stanley upped their target price 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. Two investment 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. According to data from MarketBeat.com, The Cigna Group currently has an average rating of "Buy" and a consensus price target of $379.33.

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.