NorthRock Partners LLC Boosts Stock Position in The Cigna Group (NYSE:CI)

NorthRock Partners LLC raised its stake in The Cigna Group (NYSE:CI - Free Report) by 177.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,695 shares of the health services provider's stock after buying an additional 2,364 shares during the quarter. NorthRock Partners LLC's holdings in The Cigna Group were worth $1,020,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CI. Fiduciary Alliance LLC acquired a new stake in shares of The Cigna Group during the fourth quarter worth about $252,000. Fiduciary Financial Group LLC lifted its position in shares of The Cigna Group by 8.2% during the fourth quarter. Fiduciary Financial Group LLC now owns 1,247 shares of the health services provider's stock worth $348,000 after purchasing an additional 95 shares in the last quarter. Wynn Capital LLC lifted its position in shares of The Cigna Group by 1.9% during the fourth quarter. Wynn Capital LLC now owns 3,416 shares of the health services provider's stock worth $943,000 after purchasing an additional 65 shares in the last quarter. Pines Wealth Management LLC acquired a new stake in shares of The Cigna Group during the fourth quarter worth about $274,000. Finally, Oak Thistle LLC acquired a new stake in shares of The Cigna Group during the fourth quarter worth about $1,029,000. Institutional investors and hedge funds own 86.99% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CI. Mizuho increased their price target on shares of The Cigna Group from $360.00 to $384.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 9th. Barclays upped their target price on shares of The Cigna Group from $339.00 to $382.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Sanford C. Bernstein lowered shares of The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 target price on the stock. in a research note on Thursday, February 6th. Piper Sandler upped their target price on shares of The Cigna Group from $348.00 to $374.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Finally, Cantor Fitzgerald upped their target price 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. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $379.33.

The Cigna Group Stock Performance

Shares of CI traded up $11.82 during mid-day trading on Friday, reaching $320.68. 2,055,906 shares of the company's stock were exchanged, compared to its average volume of 1,713,793. 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 $85.67 billion, a PE ratio of 26.20, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47. The business's fifty day simple moving average is $325.00 and its 200-day simple moving average is $309.91. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83.

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, 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 firm had revenue of $65.45 billion for the quarter, compared to analyst estimates of $60.39 billion. During the same period last year, the firm posted $6.47 EPS. The Cigna Group's quarterly revenue was up 14.4% on a year-over-year basis. On average, equities 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. Investors of record on Tuesday, June 3rd will be given a $1.51 dividend. The ex-dividend date is Tuesday, June 3rd. This represents a $6.04 dividend on an annualized basis and a yield of 1.88%. The Cigna Group's dividend payout ratio (DPR) is 33.44%.

Insider Activity at The Cigna Group

In other The Cigna Group news, insider Noelle K. Eder sold 9,944 shares of the firm's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $320.00, for a total value of $3,182,080.00. Following the completion of the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicole S. Jones sold 4,904 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $1,511,020.48. Following the completion of the sale, the insider now directly owns 29,421 shares of the company's stock, valued at approximately $9,065,198.52. This trade represents a 14.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,751 shares of company stock worth $13,603,991 in the last three months. Insiders own 0.70% of the company's stock.

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.