Voya Investment Management LLC Grows Stock Position in The Cigna Group (NYSE:CI)

Voya Investment Management LLC boosted its position in shares of The Cigna Group (NYSE:CI - Free Report) by 28.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 346,992 shares of the health services provider's stock after buying an additional 76,050 shares during the quarter. Voya Investment Management LLC owned approximately 0.12% of The Cigna Group worth $95,818,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CI. TCTC Holdings LLC purchased a new position in The Cigna Group in the 4th quarter valued at about $25,000. Collier Financial purchased a new stake in shares of The Cigna Group during the fourth quarter worth approximately $32,000. ORG Wealth Partners LLC acquired a new position in The Cigna Group in the 4th quarter valued at $34,000. Compagnie Lombard Odier SCmA purchased a new position in The Cigna Group in the 4th quarter valued at $37,000. Finally, Transce3nd LLC acquired a new stake in The Cigna Group during the 4th quarter worth $38,000. Institutional investors and hedge funds own 86.99% of the company's stock.

Insider Buying and Selling

In other news, CEO David Cordani sold 26,527 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the transaction, the chief executive officer now directly owns 127,767 shares in the company, valued at approximately $39,367,568.04. This trade represents a 17.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Elder Granger sold 2,376 shares of the company's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $310.35, for a total transaction of $737,391.60. Following the completion of the sale, 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 a total of 43,751 shares of company stock worth $13,603,991 over the last 90 days. 0.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Raymond James reiterated a "strong-buy" rating and issued a $360.00 target price (down from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Royal Bank of Canada set a $355.00 target price on shares of The Cigna Group in a research note on Friday, January 31st. Barclays dropped their price target on The Cigna Group from $420.00 to $339.00 and set an "overweight" rating for the company in a research report on Friday, January 31st. Cantor Fitzgerald boosted their price objective on The Cigna Group from $350.00 to $365.00 and gave the stock an "overweight" rating in a research note on Thursday, March 20th. Finally, Wells Fargo & Company dropped their target price on The Cigna Group from $370.00 to $341.00 and set an "equal weight" rating for the company in a report on Tuesday, February 4th. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $373.56.

The Cigna Group Stock Up 0.7 %

Shares of The Cigna Group stock traded up $2.29 on Wednesday, reaching $339.50. 378,550 shares of the company were exchanged, compared to its average volume of 1,697,618. The stock's 50 day moving average price is $321.32 and its 200-day moving average price is $310.24. The company has a market cap of $92.91 billion, a P/E ratio of 27.74, a price-to-earnings-growth ratio of 0.98 and a beta of 0.51. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. 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 announced its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing analysts' consensus estimates of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same quarter in the previous year, the company earned $6.79 earnings per share. As a group, equities analysts forecast that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 1.78%. The ex-dividend date is Tuesday, June 3rd. The Cigna Group's dividend payout ratio (DPR) is presently 49.35%.

The Cigna Group Company Profile

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.