Perbak Capital Partners LLP lessened its holdings in The Cigna Group (NYSE:CI - Free Report) by 80.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,051 shares of the health services provider's stock after selling 8,289 shares during the quarter. Perbak Capital Partners LLP's holdings in The Cigna Group were worth $566,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently made changes to their positions in CI. Sterling Financial Group Inc. bought a new stake in The Cigna Group in the 4th quarter valued at about $4,367,000. Principal Financial Group Inc. raised its position in shares of The Cigna Group by 3.6% in the third quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider's stock valued at $112,216,000 after purchasing an additional 11,228 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. lifted its stake in shares of The Cigna Group by 1.1% during the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider's stock valued at $20,942,000 after buying an additional 858 shares in the last quarter. Valley Wealth Managers Inc. boosted its holdings in The Cigna Group by 2.8% in the 4th quarter. Valley Wealth Managers Inc. now owns 56,933 shares of the health services provider's stock worth $15,721,000 after buying an additional 1,548 shares during the period. Finally, Pine Valley Investments Ltd Liability Co grew its stake in The Cigna Group by 28.3% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 15,713 shares of the health services provider's stock valued at $5,444,000 after buying an additional 3,466 shares in the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities analysts have recently commented on CI shares. Barclays cut their price target on The Cigna Group from $420.00 to $339.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Raymond James reiterated a "strong-buy" rating and set a $360.00 price target (down from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Oppenheimer reduced their price objective on shares of The Cigna Group from $400.00 to $375.00 and set an "outperform" rating for the company in a research note on Friday, January 31st. Truist Financial increased their target price on shares of The Cigna Group from $375.00 to $385.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. Finally, Morgan Stanley reduced their price target on shares of The Cigna Group from $403.00 to $379.00 and set an "overweight" rating for the company in a research report on Friday, January 31st. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, The Cigna Group presently has a consensus rating of "Buy" and an average price target of $373.56.
Read Our Latest Stock Report on The Cigna Group
Insider Buying and Selling at The Cigna Group
In related news, insider Noelle K. Eder sold 9,944 shares of The Cigna Group stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the sale, the insider now directly owns 13,406 shares in the company, valued at $4,289,920. The trade was a 42.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Elder Granger sold 2,376 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $310.35, for a total value of $737,391.60. Following the completion of the transaction, the director now owns 5,471 shares of the company's stock, valued at approximately $1,697,924.85. This trade represents a 30.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,751 shares of company stock valued at $13,603,991 in the last 90 days. Insiders own 0.70% of the company's stock.
The Cigna Group Trading Down 0.3 %
NYSE CI traded down $1.15 during trading on Friday, hitting $334.03. 2,471,704 shares of the company's stock traded hands, compared to its average volume of 1,701,931. The stock has a fifty day moving average of $322.82 and a two-hundred day moving average of $310.34. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The firm has a market cap of $91.42 billion, a P/E ratio of 27.29, a PEG ratio of 0.98 and a beta of 0.51. 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 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 (EPS) for the quarter, topping the consensus estimate of $6.35 by $0.39. The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. The business had revenue of $65.45 billion for the quarter, compared to analyst estimates of $60.39 billion. During the same period last year, the company earned $6.47 EPS. The Cigna Group's revenue for the quarter was up 14.4% compared to the same quarter last year. As a group, sell-side analysts expect that The Cigna Group will post 29.77 EPS for the current year.
The Cigna Group Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be issued a dividend of $1.51 per share. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $6.04 dividend on an annualized basis and a yield of 1.81%. The Cigna Group's dividend payout ratio is presently 49.35%.
About The Cigna Group
(
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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