Anchor Investment Management LLC Grows Stake in The Cigna Group (NYSE:CI)

Anchor Investment Management LLC boosted its holdings in The Cigna Group (NYSE:CI - Free Report) by 31.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,317 shares of the health services provider's stock after purchasing an additional 1,036 shares during the quarter. Anchor Investment Management LLC's holdings in The Cigna Group were worth $1,192,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

Several equities analysts have recently commented on CI shares. Robert W. Baird reduced their price objective 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. Cantor Fitzgerald boosted their price target on The Cigna Group from $350.00 to $365.00 and gave the company an "overweight" rating in a report on Thursday, March 20th. Stephens reduced their target price on The Cigna Group from $410.00 to $380.00 and set an "overweight" rating on the stock in a research note on Friday, January 31st. Morgan Stanley reduced their target price on The Cigna Group from $403.00 to $379.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. Finally, UBS Group reduced their target price on shares of The Cigna Group from $410.00 to $390.00 and set a "buy" rating on the stock in a research report on Monday, February 3rd. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $373.56.

Insider Buying and Selling at The Cigna Group

In related news, CEO David Cordani sold 26,527 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 $8,173,499.24. Following the transaction, the chief executive officer now directly owns 127,767 shares of the company's stock, valued at $39,367,568.04. This trade represents a 17.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Noelle K. Eder sold 9,944 shares of the company's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $320.00, for a total value of $3,182,080.00. Following the sale, the insider now owns 13,406 shares of the company's stock, valued at approximately $4,289,920. This represents a 42.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,751 shares of company stock valued at $13,603,991 in the last ninety days. Corporate insiders own 0.70% of the company's stock.

The Cigna Group Trading Down 1.5 %

CI stock traded down $4.81 during midday trading on Monday, reaching $325.32. The company's stock had a trading volume of 332,157 shares, compared to its average volume of 1,689,104. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The firm has a market capitalization of $89.03 billion, a price-to-earnings ratio of 26.58, a PEG ratio of 0.98 and a beta of 0.51. The stock has a fifty day simple moving average of $315.87 and a two-hundred day simple moving average of $310.53. 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 (NYSE:CI - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share (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 quarter in the previous year, the firm earned $6.79 earnings per share. On average, equities research analysts predict that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

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