Kovitz Investment Group Partners LLC Purchases 2,820 Shares of The Cigna Group (NYSE:CI)

Kovitz Investment Group Partners LLC raised its holdings in The Cigna Group (NYSE:CI - Free Report) by 6.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 46,052 shares of the health services provider's stock after acquiring an additional 2,820 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in The Cigna Group were worth $12,717,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Buying and Selling at The Cigna Group

In other news, insider Nicole S. Jones sold 4,904 shares of the company's stock in a transaction that occurred on 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 sale, the insider now directly owns 29,421 shares in the company, valued at approximately $9,065,198.52. This represents a 14.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO David Cordani sold 26,527 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $8,173,499.24. Following the transaction, the chief executive officer now owns 127,767 shares of the company's stock, valued at $39,367,568.04. This trade represents a 17.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,751 shares of company stock valued at $13,603,991 in the last 90 days. 0.70% of the stock is currently owned by company insiders.

The Cigna Group Stock Performance

The Cigna Group stock traded down $1.04 during mid-day trading on Thursday, reaching $339.01. The company had a trading volume of 632,739 shares, compared to its average volume of 1,700,090. The company has a 50 day moving average of $322.13 and a 200-day moving average of $310.45. The firm has a market cap of $92.78 billion, a price-to-earnings ratio of 27.69, a PEG ratio of 0.98 and a beta of 0.51. 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 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 posted its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing the consensus estimate 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 period last year, the firm posted $6.79 earnings per share. On average, sell-side analysts expect that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be paid a dividend of $1.51 per share. The ex-dividend date is Tuesday, June 3rd. This represents a $6.04 dividend on an annualized basis and a yield of 1.78%. The Cigna Group's dividend payout ratio is currently 49.35%.

Analyst Ratings Changes

Several research firms have weighed in on CI. Mizuho lifted their target price on The Cigna Group from $360.00 to $384.00 and gave the company an "outperform" rating in a research note on Wednesday, April 9th. Stephens decreased their target price on shares of The Cigna Group from $410.00 to $380.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. StockNews.com raised shares of The Cigna Group from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. Sanford C. Bernstein cut The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 price objective for the company. in a research report on Thursday, February 6th. Finally, Morgan Stanley dropped their target price on The Cigna Group from $403.00 to $379.00 and set an "overweight" rating on the stock in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $373.56.

The Cigna Group 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.