Shay Capital LLC Purchases New Shares in The Cigna Group (NYSE:CI)

Shay Capital LLC bought a new stake in The Cigna Group (NYSE:CI - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,000 shares of the health services provider's stock, valued at approximately $552,000.

Other hedge funds have also recently added to or reduced their stakes in the company. TCTC Holdings LLC purchased a new position in shares of The Cigna Group during the fourth quarter worth approximately $25,000. Collier Financial purchased a new position in shares of The Cigna Group during the fourth quarter worth approximately $32,000. Compagnie Lombard Odier SCmA purchased a new position in shares of The Cigna Group during the fourth quarter worth approximately $37,000. Transce3nd LLC purchased a new position in shares of The Cigna Group during the fourth quarter worth approximately $38,000. Finally, Heck Capital Advisors LLC purchased a new position in shares of The Cigna Group during the fourth quarter worth approximately $53,000. Institutional investors and hedge funds own 86.99% of the company's stock.

The Cigna Group Stock Up 0.9%

Shares of The Cigna Group stock traded up $2.79 on Tuesday, hitting $324.75. 1,329,688 shares of the company's stock traded hands, compared to its average volume of 1,712,001. The stock has a market cap of $86.75 billion, a P/E ratio of 26.53, a PEG ratio of 0.98 and a beta of 0.47. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70. The firm's 50-day moving average is $325.22 and its 200 day 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 issued its 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 Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. 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 company earned $6.47 earnings per share. The firm's revenue for the quarter was up 14.4% on a year-over-year basis. Equities analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date is Tuesday, June 3rd. The Cigna Group's dividend payout ratio (DPR) is 33.44%.

Insider Activity

In related news, Director Elder Granger sold 2,376 shares of The Cigna Group stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $310.35, for a total transaction 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. The trade was a 30.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicole S. Jones sold 4,904 shares of The Cigna Group stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $1,511,020.48. Following the transaction, the insider now directly owns 29,421 shares in the company, valued at approximately $9,065,198.52. The trade was a 14.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,751 shares of company stock valued at $13,603,991. Company insiders own 0.70% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CI. Truist Financial raised their target price on shares of The Cigna Group from $385.00 to $405.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Cantor Fitzgerald lifted their price objective on shares of The Cigna Group from $350.00 to $365.00 and gave the company an "overweight" rating in a research report on Thursday, March 20th. Guggenheim reiterated a "buy" rating and issued a $388.00 price objective (up from $384.00) on shares of The Cigna Group in a research report on Monday, May 5th. Oppenheimer decreased their target price on shares of The Cigna Group from $400.00 to $375.00 and set an "outperform" rating on the stock in a research report on Friday, January 31st. Finally, Robert W. Baird cut their target price on shares of The Cigna Group from $388.00 to $362.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock 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.