Corient Private Wealth LLC Acquires 2,583 Shares of The Cigna Group (NYSE:CI)

Corient Private Wealth LLC grew its position in The Cigna Group (NYSE:CI - Free Report) by 2.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 112,051 shares of the health services provider's stock after acquiring an additional 2,583 shares during the period. Corient Private Wealth LLC's holdings in The Cigna Group were worth $30,943,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of CI. Swedbank AB grew its holdings in The Cigna Group by 26.6% during the 3rd quarter. Swedbank AB now owns 570,283 shares of the health services provider's stock worth $197,569,000 after acquiring an additional 119,681 shares during the last quarter. Harbour Investments Inc. lifted its position in shares of The Cigna Group by 23.6% during the third quarter. Harbour Investments Inc. now owns 661 shares of the health services provider's stock worth $229,000 after purchasing an additional 126 shares in the last quarter. Adero Partners LLC grew its stake in shares of The Cigna Group by 4.5% during the third quarter. Adero Partners LLC now owns 788 shares of the health services provider's stock valued at $273,000 after purchasing an additional 34 shares during the last quarter. Claro Advisors LLC increased its holdings in shares of The Cigna Group by 40.1% in the third quarter. Claro Advisors LLC now owns 2,480 shares of the health services provider's stock valued at $859,000 after purchasing an additional 710 shares in the last quarter. Finally, Aljian Capital Management LLC bought a new position in The Cigna Group in the 3rd quarter worth approximately $324,000. 86.99% of the stock is owned by institutional investors and hedge funds.

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Insider Activity

In related news, insider Nicole S. Jones sold 4,904 shares of the company'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 $1,511,020.48. Following the completion of the transaction, the insider now directly owns 29,421 shares of the company's stock, valued at approximately $9,065,198.52. This represents a 14.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 shares were sold at an average price of $310.35, for a total value of $737,391.60. Following the completion of the sale, 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 43,751 shares of company stock worth $13,603,991 in the last 90 days. Corporate insiders own 0.60% of the company's stock.

The Cigna Group Trading Down 1.4 %

NYSE:CI traded down $4.61 during trading hours on Friday, hitting $316.78. The stock had a trading volume of 3,552,779 shares, compared to its average volume of 1,564,478. The business's 50 day moving average is $300.07 and its 200-day moving average is $315.72. 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 company has a market cap of $86.70 billion, a price-to-earnings ratio of 25.88, a P/E/G ratio of 0.98 and a beta of 0.53. The Cigna Group has a one year low of $262.03 and a one year high of $370.83.

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 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 quarter in the prior year, the firm posted $6.79 earnings per share. Sell-side analysts anticipate that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were given a dividend of $1.51 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.91%. This is a positive change from The Cigna Group's previous quarterly dividend of $1.40. The Cigna Group's dividend payout ratio (DPR) is currently 49.35%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Truist Financial decreased their price objective on The Cigna Group from $390.00 to $375.00 and set a "buy" rating on the stock in a research report on Tuesday, February 4th. Sanford C. Bernstein cut The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 price target on the stock. in a report on Thursday, February 6th. Morgan Stanley lowered their price objective on The Cigna Group from $403.00 to $379.00 and set an "overweight" rating for the company in a research report on Friday, January 31st. Stephens cut their target price on shares of The Cigna Group from $410.00 to $380.00 and set an "overweight" rating on the stock in a research report on Friday, January 31st. Finally, StockNews.com raised shares of The Cigna Group from a "hold" rating to a "buy" rating in a research note on Wednesday, February 19th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $373.25.

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.