Coign Capital Advisors LLC Invests $527,000 in The Cigna Group (NYSE:CI)

Coign Capital Advisors LLC acquired a new stake in shares of The Cigna Group (NYSE:CI - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 1,907 shares of the health services provider's stock, valued at approximately $527,000.

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

Insider Buying and Selling

In other 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 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 $39,367,568.04. The trade was a 17.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Elder Granger sold 2,376 shares of The Cigna Group stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $310.35, for a total value of $737,391.60. Following the completion of the transaction, the director now directly owns 5,471 shares in the company, valued at $1,697,924.85. This represents a 30.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,751 shares of company stock worth $13,603,991 over the last quarter. 0.70% of the stock is owned by company insiders.

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Analyst Upgrades and Downgrades

A number of analysts have weighed in on CI shares. Raymond James restated a "strong-buy" rating and set a $360.00 price objective (down from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Barclays lowered their price objective on shares of The Cigna Group from $420.00 to $339.00 and set an "overweight" rating on the stock in a research report on Friday, January 31st. Wells Fargo & Company reduced their price target on shares of The Cigna Group from $370.00 to $341.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 4th. Morgan Stanley lowered their target price on The Cigna Group from $403.00 to $379.00 and set an "overweight" rating on the stock in a research report on Friday, January 31st. Finally, Piper Sandler restated an "overweight" rating and set a $348.00 target price (down previously from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Two investment 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. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $373.56.

The Cigna Group Price Performance

Shares of The Cigna Group stock traded up $3.57 on Wednesday, hitting $332.20. The company's stock had a trading volume of 585,681 shares, compared to its average volume of 1,822,118. The firm has a fifty day moving average price of $313.58 and a 200-day moving average price of $311.06. The company has a market capitalization of $90.92 billion, a P/E ratio of 27.14, a price-to-earnings-growth ratio of 0.98 and a beta of 0.51. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70.

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 EPS for the quarter, missing analysts' consensus estimates 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 period in the previous year, the company posted $6.79 earnings per share. On average, equities research analysts expect 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 announced 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 represents a $6.04 dividend on an annualized basis and a dividend yield of 1.82%. This is a boost from The Cigna Group's previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Wednesday, March 5th. The Cigna Group's dividend payout ratio is 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.