Oxbow Advisors LLC Acquires Shares of 17,170 The Cigna Group (NYSE:CI)

Oxbow Advisors LLC acquired a new stake in The Cigna Group (NYSE:CI - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 17,170 shares of the health services provider's stock, valued at approximately $5,142,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CI. OFI Invest Asset Management acquired a new position in The Cigna Group in the 3rd quarter valued at $26,000. Fortitude Family Office LLC acquired a new position in The Cigna Group in the 4th quarter valued at $29,000. VisionPoint Advisory Group LLC lifted its position in shares of The Cigna Group by 112.2% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider's stock valued at $30,000 after acquiring an additional 55 shares during the period. Pacifica Partners Inc. lifted its position in shares of The Cigna Group by 73.2% during the 4th quarter. Pacifica Partners Inc. now owns 142 shares of the health services provider's stock valued at $43,000 after acquiring an additional 60 shares during the period. Finally, MeadowBrook Investment Advisors LLC bought a new stake in shares of The Cigna Group during the 4th quarter valued at $43,000. 86.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CI has been the subject of a number of recent analyst reports. Cantor Fitzgerald upped their target price on The Cigna Group from $384.00 to $400.00 and gave the company an "overweight" rating in a research report on Friday, May 3rd. Oppenheimer upped their target price on The Cigna Group from $370.00 to $400.00 and gave the company an "outperform" rating in a research report on Friday, May 3rd. Royal Bank of Canada upgraded The Cigna Group from a "sector perform" rating to an "outperform" rating and upped their target price for the company from $327.00 to $354.00 in a research report on Monday, February 5th. Barclays began coverage on The Cigna Group in a research report on Wednesday, March 6th. They set an "overweight" rating and a $393.00 price objective for the company. Finally, Morgan Stanley restated an "overweight" rating and set a $392.00 price objective (up from $382.00) on shares of The Cigna Group in a research report on Monday, March 4th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, The Cigna Group currently has a consensus rating of "Buy" and a consensus price target of $366.14.

The Cigna Group Trading Down 0.2 %

The Cigna Group stock traded down $0.55 during trading hours on Friday, hitting $338.71. The stock had a trading volume of 1,996,581 shares, compared to its average volume of 1,605,131. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.75. The stock has a market cap of $96.22 billion, a price-to-earnings ratio of 27.85, a P/E/G ratio of 1.05 and a beta of 0.57. The Cigna Group has a one year low of $240.50 and a one year high of $365.71. The business's 50 day simple moving average is $352.25 and its 200-day simple moving average is $322.07.

The Cigna Group (NYSE:CI - Get Free Report) last posted its earnings results on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, beating the consensus estimate of $6.17 by $0.30. The firm had revenue of $57.25 billion during the quarter, compared to the consensus estimate of $56.59 billion. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The business's quarterly revenue was up 23.2% on a year-over-year basis. During the same period last year, the company earned $5.41 earnings per share. On average, equities analysts predict that The Cigna Group will post 28.47 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th will be paid a $1.40 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.65%. The Cigna Group's payout ratio is 45.98%.

Insider Activity

In other news, CEO David Cordani sold 2,000 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $345.04, for a total value of $690,080.00. Following the completion of the sale, the chief executive officer now owns 336,783 shares of the company's stock, valued at $116,203,606.32. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the firm's stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $348.71, for a total transaction of $2,073,429.66. Following the completion of the sale, the senior vice president now owns 2,595 shares of the company's stock, valued at $904,902.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David Cordani sold 2,000 shares of The Cigna Group stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $345.04, for a total value of $690,080.00. Following the completion of the sale, the chief executive officer now owns 336,783 shares of the company's stock, valued at $116,203,606.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 78,685 shares of company stock valued at $27,622,407. Company insiders own 0.60% 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.

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