WBI Investments LLC acquired a new position in The Cigna Group (NYSE:CI - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,083 shares of the health services provider's stock, valued at approximately $923,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Dai ichi Life Insurance Company Ltd lifted its position in The Cigna Group by 18.3% during the 4th quarter. Dai ichi Life Insurance Company Ltd now owns 19,392 shares of the health services provider's stock worth $5,807,000 after acquiring an additional 3,000 shares during the last quarter. Goodman Financial Corp raised its position in shares of The Cigna Group by 0.5% during the fourth quarter. Goodman Financial Corp now owns 41,783 shares of the health services provider's stock valued at $12,512,000 after buying an additional 227 shares during the last quarter. Aigen Investment Management LP acquired a new position in shares of The Cigna Group during the fourth quarter valued at about $301,000. Franklin Resources Inc. raised its position in shares of The Cigna Group by 58.2% during the fourth quarter. Franklin Resources Inc. now owns 176,453 shares of the health services provider's stock valued at $52,839,000 after buying an additional 64,912 shares during the last quarter. Finally, Brandes Investment Partners LP raised its position in shares of The Cigna Group by 12.2% during the fourth quarter. Brandes Investment Partners LP now owns 427,056 shares of the health services provider's stock valued at $127,882,000 after buying an additional 46,506 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company's stock.
The Cigna Group Price Performance
The Cigna Group stock traded up $1.36 during trading hours on Thursday, hitting $337.83. 1,510,853 shares of the stock were exchanged, compared to its average volume of 1,590,549. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market capitalization of $95.97 billion, a P/E ratio of 27.70, a P/E/G ratio of 1.03 and a beta of 0.57. The Cigna Group has a 12 month low of $240.50 and a 12 month high of $365.71. The business's 50-day moving average is $351.62 and its two-hundred day moving average is $322.86.
The Cigna Group (NYSE:CI - Get Free Report) last released its quarterly 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 Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The business had revenue of $57.25 billion for the quarter, compared to analysts' expectations of $56.59 billion. During the same period in the prior year, the firm earned $5.41 earnings per share. The Cigna Group's revenue was up 23.2% compared to the same quarter last year. Equities research analysts expect 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 dividend of $1.40 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.66%. The Cigna Group's dividend payout ratio (DPR) is currently 45.98%.
Wall Street Analysts Forecast Growth
CI has been the subject of a number of research analyst reports. Mizuho upped their price objective on shares of The Cigna Group from $360.00 to $370.00 and gave the company a "buy" rating in a research report on Monday, February 5th. Deutsche Bank Aktiengesellschaft raised shares of The Cigna Group from a "hold" rating to a "buy" rating and upped their price objective for the company from $355.00 to $370.00 in a research report on Thursday, February 1st. Wells Fargo & Company increased their price target on shares of The Cigna Group from $334.00 to $348.00 and gave the stock an "equal weight" rating in a research report on Tuesday, February 6th. StockNews.com raised shares of The Cigna Group from a "buy" rating to a "strong-buy" rating in a research report on Thursday, March 14th. Finally, Cantor Fitzgerald increased their price target on shares of The Cigna Group from $384.00 to $400.00 and gave the stock an "overweight" rating in a research report on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $366.14.
Read Our Latest Analysis on The Cigna Group
Insider Activity
In other news, insider Noelle K. Eder sold 10,700 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $348.47, for a total transaction of $3,728,629.00. Following the sale, the insider now directly owns 15,824 shares of the company's stock, valued at $5,514,189.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other The Cigna Group news, insider Noelle K. Eder sold 10,700 shares of the firm's stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $348.47, for a total value of $3,728,629.00. Following the transaction, the insider now directly owns 15,824 shares of the company's stock, valued at $5,514,189.28. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO David Cordani sold 6,319 shares of the firm's stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $345.24, for a total transaction of $2,181,571.56. Following the completion of the transaction, the chief executive officer now directly owns 336,783 shares in the company, valued at $116,270,962.92. The disclosure for this sale can be found here. Insiders have sold 78,685 shares of company stock valued at $27,622,407 over the last three months. 0.60% of the stock is owned by insiders.
The Cigna Group Company Profile
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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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