The Cigna Group (NYSE:CI) Shares Purchased by Rafferty Asset Management LLC

Rafferty Asset Management LLC boosted its position in shares of The Cigna Group (NYSE:CI - Free Report) by 11.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,551 shares of the health services provider's stock after buying an additional 3,199 shares during the quarter. Rafferty Asset Management LLC's holdings in The Cigna Group were worth $8,712,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. TCTC Holdings LLC purchased a new position in The Cigna Group during the fourth quarter worth $25,000. Collier Financial bought a new stake in shares of The Cigna Group during the fourth quarter worth $32,000. Compagnie Lombard Odier SCmA bought a new stake in shares of The Cigna Group during the fourth quarter worth $37,000. Transce3nd LLC bought a new stake in shares of The Cigna Group during the fourth quarter worth $38,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of The Cigna Group during the fourth quarter worth $53,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Oppenheimer decreased their price objective on The Cigna Group from $400.00 to $375.00 and set an "outperform" rating for the company in a report on Friday, January 31st. 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 report on Friday, January 31st. Guggenheim reiterated a "buy" rating and issued a $388.00 target price (up from $384.00) on shares of The Cigna Group in a report on Monday, May 5th. Robert W. Baird cut their price objective on shares of The Cigna Group from $388.00 to $362.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Finally, Barclays upped their price objective on shares of The Cigna Group from $339.00 to $382.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Two 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 company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $379.33.

Insiders Place Their Bets

In other news, insider Nicole S. Jones sold 4,904 shares of The Cigna Group stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $1,511,020.48. Following the sale, the insider now owns 29,421 shares in the company, valued at $9,065,198.52. This trade represents a 14.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David Cordani sold 26,527 shares of The Cigna Group stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 127,767 shares in the company, valued at approximately $39,367,568.04. This trade represents a 17.19% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,751 shares of company stock worth $13,603,991. Corporate insiders own 0.70% of the company's stock.

The Cigna Group Stock Performance

The Cigna Group stock traded up $2.79 during mid-day trading on Tuesday, hitting $324.75. The company had a trading volume of 1,329,688 shares, compared to its average volume of 1,712,001. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The company's fifty day moving average is $325.22 and its 200-day moving average is $309.91. The company 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 data on Friday, May 2nd. The health services provider reported $6.74 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 quarter in the prior year, the firm posted $6.47 EPS. The business's quarterly revenue was up 14.4% compared to the same quarter last year. Equities research analysts predict that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Announces Dividend

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 given a $1.51 dividend. The ex-dividend date of this dividend 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%.

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.