775 Shares in The Cigna Group (NYSE:CI) Acquired by Zacks Investment Management

Zacks Investment Management purchased a new position in The Cigna Group (NYSE:CI - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 775 shares of the health services provider's stock, valued at approximately $214,000.

Other institutional investors also recently modified their holdings of the company. TCTC Holdings LLC acquired a new position in The Cigna Group in the fourth quarter valued at approximately $25,000. Collier Financial acquired a new position in shares of The Cigna Group during the 4th quarter valued at $32,000. ORG Wealth Partners LLC bought a new position in The Cigna Group during the fourth quarter worth $34,000. Compagnie Lombard Odier SCmA acquired a new stake in The Cigna Group in the fourth quarter worth $37,000. Finally, Heck Capital Advisors LLC bought a new stake in The Cigna Group in the fourth quarter valued at $53,000. 86.99% of the stock is owned by institutional investors.

Insider Activity at The Cigna Group

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

Wall Street Analysts Forecast Growth

CI has been the subject of several research reports. Stephens reduced their target price on 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. Cantor Fitzgerald raised their price objective on The Cigna Group from $350.00 to $365.00 and gave the company an "overweight" rating in a research note on Thursday, March 20th. Royal Bank of Canada set a $355.00 target price on The Cigna Group in a research report on Friday, January 31st. StockNews.com raised shares of The Cigna Group from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. Finally, Guggenheim started coverage on shares of The Cigna Group in a report on Wednesday, April 9th. They set a "buy" rating and a $384.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, The Cigna Group has an average rating of "Buy" and an average target price of $373.56.

The Cigna Group Stock Performance

NYSE:CI traded down $0.10 during trading hours on Friday, reaching $335.60. The stock had a trading volume of 1,400,117 shares, compared to its average volume of 1,700,174. The stock has a market cap of $91.85 billion, a P/E ratio of 27.42, a price-to-earnings-growth ratio of 0.98 and a beta of 0.51. The stock has a 50 day simple moving average of $319.82 and a 200 day simple moving average of $310.69. 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 Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83.

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 earnings per share for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same period in the previous year, the business posted $6.79 earnings per share. On average, research analysts forecast that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders 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 yield of 1.80%. The ex-dividend date is Tuesday, June 3rd. The Cigna Group's payout ratio 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.