Aquatic Capital Management LLC Acquires New Holdings in The Cigna Group (NYSE:CI)

Aquatic Capital Management LLC bought a new position in The Cigna Group (NYSE:CI - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 61,360 shares of the health services provider's stock, valued at approximately $16,944,000.

A number of other hedge funds have also added to or reduced their stakes in CI. TCTC Holdings LLC bought a new position in The Cigna Group in the fourth quarter valued at about $25,000. Collier Financial bought a new position in shares of The Cigna Group in the 4th quarter worth approximately $32,000. ORG Wealth Partners LLC purchased a new position in shares of The Cigna Group in the fourth quarter worth approximately $34,000. Compagnie Lombard Odier SCmA bought a new stake in The Cigna Group during the fourth quarter valued at approximately $37,000. Finally, Transce3nd LLC purchased a new stake in The Cigna Group during the fourth quarter valued at approximately $38,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CI shares. Stephens dropped their price target on shares of 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. StockNews.com raised The Cigna Group from a "buy" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Royal Bank of Canada set a $355.00 price target on The Cigna Group in a research report on Friday, January 31st. Wells Fargo & Company lowered their price objective on The Cigna Group from $370.00 to $341.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 4th. 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 target on the stock. Two equities research 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 Cigna Group currently has a consensus rating of "Buy" and an average target price of $373.56.

Insider Transactions at The Cigna Group

In related news, Director Elder Granger sold 2,376 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $310.35, for a total transaction of $737,391.60. Following the completion of the sale, the director now directly owns 5,471 shares of the company's stock, valued at approximately $1,697,924.85. This trade represents a 30.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Cordani sold 26,527 shares of the business's stock in a transaction on Monday, March 3rd. The shares were 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 approximately $39,367,568.04. The trade was a 17.19 % 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. 0.70% of the stock is currently owned by insiders.

The Cigna Group Stock Performance

NYSE:CI opened at $335.60 on Friday. 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 company has a market cap of $91.85 billion, a price-to-earnings ratio of 27.42, a PEG ratio of 0.98 and a beta of 0.51. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The stock's 50 day simple moving average is $319.82 and its two-hundred day simple moving average is $310.69.

The Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings results 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 quarter in the prior year, the firm posted $6.79 earnings per share. As a group, equities analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be paid a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 1.80%. The ex-dividend date is Tuesday, June 3rd. The Cigna Group's dividend payout ratio is currently 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.

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