ProShare Advisors LLC Purchases 4,658 Shares of The Cigna Group (NYSE:CI)

ProShare Advisors LLC boosted its holdings in The Cigna Group (NYSE:CI - Free Report) by 10.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 48,117 shares of the health services provider's stock after buying an additional 4,658 shares during the period. ProShare Advisors LLC's holdings in The Cigna Group were worth $13,287,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in CI. Hennion & Walsh Asset Management Inc. increased its position in The Cigna Group by 35.4% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 1,068 shares of the health services provider's stock worth $295,000 after buying an additional 279 shares during the period. Sterling Financial Group Inc. bought a new stake in shares of The Cigna Group during the fourth quarter valued at approximately $4,367,000. KMG Fiduciary Partners LLC increased its position in shares of The Cigna Group by 2.4% during the fourth quarter. KMG Fiduciary Partners LLC now owns 9,471 shares of the health services provider's stock valued at $2,615,000 after purchasing an additional 226 shares during the period. Avanza Fonder AB bought a new stake in shares of The Cigna Group during the fourth quarter valued at approximately $6,465,000. Finally, Wedge Capital Management L L P NC increased its position in shares of The Cigna Group by 10.3% during the fourth quarter. Wedge Capital Management L L P NC now owns 125,066 shares of the health services provider's stock valued at $34,536,000 after purchasing an additional 11,636 shares during the period. 86.99% of the stock is owned by institutional investors.

The Cigna Group Stock Up 0.9%

NYSE CI traded up $2.79 during trading hours on Tuesday, hitting $324.75. 1,329,688 shares of the company traded hands, compared to its average volume of 1,712,001. The business's 50-day moving average is $325.22 and its 200-day moving average is $309.91. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The stock has a market capitalization of $86.75 billion, a price-to-earnings ratio of 26.53, a P/E/G ratio of 0.98 and a beta of 0.47.

The Cigna Group (NYSE:CI - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share for the quarter, topping the consensus estimate of $6.35 by $0.39. The business had revenue of $65.45 billion during the quarter, compared to analysts' expectations of $60.39 billion. The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. The firm's revenue for the quarter was up 14.4% compared to the same quarter last year. During the same period last year, the firm posted $6.47 EPS. Sell-side analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be issued a $1.51 dividend. The ex-dividend date is Tuesday, June 3rd. This represents a $6.04 annualized dividend and a yield of 1.86%. The Cigna Group's dividend payout ratio is presently 33.44%.

Insider Buying and Selling at The Cigna Group

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 transaction of $8,173,499.24. Following the completion of the transaction, the chief executive officer now 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Elder Granger sold 2,376 shares of the business's 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 transaction, the director now directly owns 5,471 shares of the company's stock, valued at $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 three months. Corporate insiders own 0.70% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CI shares. Guggenheim restated a "buy" rating and set a $388.00 price objective (up from $384.00) on shares of The Cigna Group in a research report on Monday, May 5th. Barclays boosted their price target on The Cigna Group from $339.00 to $382.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. StockNews.com raised The Cigna Group from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. UBS Group cut their price target on The Cigna Group from $410.00 to $390.00 and set a "buy" rating on the stock in a research note on Monday, February 3rd. Finally, Oppenheimer cut their price target on The Cigna Group from $400.00 to $375.00 and set an "outperform" rating on the stock in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $379.33.

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.