Advent Capital Management DE Makes New $2.76 Million Investment in The Cigna Group (NYSE:CI)

Advent Capital Management DE purchased a new stake in shares of 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 (SEC). The fund purchased 10,000 shares of the health services provider's stock, valued at approximately $2,761,000.

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

The Cigna Group Trading Down 1.8 %

Shares of The Cigna Group stock traded down $6.04 on Monday, reaching $324.09. The company had a trading volume of 535,341 shares, compared to its average volume of 1,828,572. 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 has a 1 year low of $262.03 and a 1 year high of $370.83. The firm has a market cap of $88.70 billion, a price-to-earnings ratio of 26.48, a P/E/G ratio of 0.98 and a beta of 0.51. The firm's 50-day moving average price is $315.87 and its two-hundred day moving average price is $310.53.

The Cigna Group (NYSE:CI - Get Free Report) last issued its earnings results 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 return on equity of 18.61% and a net margin of 1.39%. During the same quarter in the previous year, the business earned $6.79 EPS. As a group, research analysts predict that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were issued a $1.51 dividend. This is an increase from The Cigna Group's previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a dividend yield of 1.86%. The ex-dividend date was Wednesday, March 5th. The Cigna Group's dividend payout ratio is 49.35%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. StockNews.com upgraded The Cigna Group from a "buy" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Robert W. Baird lowered their price target on The Cigna Group from $388.00 to $362.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Oppenheimer reduced their price target 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. Royal Bank of Canada set a $355.00 target price on shares of The Cigna Group in a research note on Friday, January 31st. Finally, Truist Financial boosted their target price on shares of The Cigna Group from $375.00 to $385.00 and gave the company a "buy" rating in a research report on Friday, April 11th. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $373.56.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, CEO David Cordani sold 26,527 shares of the company's stock in a transaction 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 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicole S. Jones sold 4,904 shares of The Cigna Group 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 $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. The trade was a 14.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,751 shares of company stock worth $13,603,991. Insiders own 0.70% of the company's stock.

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.