AXQ Capital LP purchased a new stake in shares of The Cigna Group (NYSE:CI - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,527 shares of the health services provider's stock, valued at approximately $422,000.
Several other institutional investors also recently modified their holdings of CI. Sterling Financial Group Inc. bought a new position in The Cigna Group during the 4th quarter valued at about $4,367,000. Principal Financial Group Inc. lifted its position in The Cigna Group by 3.6% during the third quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider's stock valued at $112,216,000 after purchasing an additional 11,228 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. boosted its holdings in The Cigna Group by 1.1% in the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider's stock worth $20,942,000 after purchasing an additional 858 shares during the last quarter. Valley Wealth Managers Inc. grew its position in The Cigna Group by 2.8% in the 4th quarter. Valley Wealth Managers Inc. now owns 56,933 shares of the health services provider's stock worth $15,721,000 after purchasing an additional 1,548 shares during the period. Finally, Pine Valley Investments Ltd Liability Co raised its stake in The Cigna Group by 28.3% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 15,713 shares of the health services provider's stock valued at $5,444,000 after buying an additional 3,466 shares during the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.
The Cigna Group Price Performance
Shares of CI stock traded up $3.51 during mid-day trading on Thursday, hitting $324.74. The company had a trading volume of 1,285,344 shares, compared to its average volume of 1,563,920. The company has a market capitalization of $88.88 billion, a P/E ratio of 26.53, a P/E/G ratio of 0.98 and a beta of 0.53. The stock's 50 day moving average price is $302.98 and its 200-day moving average price is $314.24. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. 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 (NYSE:CI - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 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 prior year, the company posted $6.79 EPS. Equities research analysts forecast that The Cigna Group will post 29.77 earnings per share for the current year.
The Cigna Group Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 1.86%. This is a boost from The Cigna Group's previous quarterly dividend of $1.40. The ex-dividend date was Wednesday, March 5th. The Cigna Group's dividend payout ratio is 49.35%.
Wall Street Analysts Forecast Growth
Several analysts recently commented on the company. Piper Sandler reaffirmed an "overweight" rating and issued a $348.00 price objective (down previously from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Oppenheimer reduced their price target on shares of The Cigna Group from $400.00 to $375.00 and set an "outperform" rating for the company in a research report on Friday, January 31st. Truist Financial dropped their price objective on shares of The Cigna Group from $390.00 to $375.00 and set a "buy" rating on the stock in a report on Tuesday, February 4th. Wells Fargo & Company reduced their target price on shares of The Cigna Group from $370.00 to $341.00 and set an "equal weight" rating for the company in a report on Tuesday, February 4th. Finally, Royal Bank of Canada set a $355.00 price target on shares of The Cigna Group in a research note on Friday, January 31st. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $373.25.
Check Out Our Latest Stock Analysis on CI
Insider Activity at The Cigna Group
In other news, CEO David Cordani sold 26,527 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 127,767 shares in the company, valued at approximately $39,367,568.04. This represents a 17.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Noelle K. Eder sold 9,944 shares of the business's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $320.00, for a total value of $3,182,080.00. Following the completion of the sale, the insider now owns 13,406 shares of the company's stock, valued at $4,289,920. The trade was a 42.59 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,751 shares of company stock valued at $13,603,991. 0.60% of the stock is owned by corporate insiders.
The Cigna Group Company Profile
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Free Report)
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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