Family Office Research LLC Acquires Shares of 1,088 The Cigna Group (NYSE:CI)

Family Office Research LLC bought a new stake in shares of The Cigna Group (NYSE:CI - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,088 shares of the health services provider's stock, valued at approximately $301,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CI. Sterling Financial Group Inc. bought a new position in The Cigna Group in the 4th quarter valued at $4,367,000. Principal Financial Group Inc. raised 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 in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. boosted its position in The Cigna Group by 1.1% during the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider's stock valued at $20,942,000 after buying an additional 858 shares during the period. Valley Wealth Managers Inc. boosted its stake in shares of The Cigna Group by 2.8% during the fourth quarter. Valley Wealth Managers Inc. now owns 56,933 shares of the health services provider's stock valued at $15,721,000 after purchasing an additional 1,548 shares during the period. Finally, Pine Valley Investments Ltd Liability Co increased its holdings 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 purchasing an additional 3,466 shares during the period. 86.99% of the stock is owned by institutional investors and hedge funds.

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Insider Activity at The Cigna Group

In other news, insider Nicole S. Jones sold 4,904 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the transaction, the insider now owns 29,421 shares of the company's stock, valued at approximately $9,065,198.52. The trade was a 14.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO David Cordani sold 26,527 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the completion of the sale, the chief executive officer now directly 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 three months, insiders have sold 43,751 shares of company stock valued at $13,603,991. 0.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on CI shares. Morgan Stanley dropped 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. Robert W. Baird cut their target price on shares of The Cigna Group from $388.00 to $362.00 and set an "outperform" rating for the company in a research note on Tuesday. Royal Bank of Canada set a $355.00 price objective on The Cigna Group in a research note on Friday, January 31st. Raymond James reaffirmed a "strong-buy" rating and issued a $360.00 price target (down previously from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Finally, Mizuho boosted their target price on shares of The Cigna Group from $360.00 to $384.00 and gave the stock an "outperform" rating in a report on Wednesday, April 9th. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $373.56.

The Cigna Group Stock Performance

The Cigna Group stock traded up $6.10 during midday trading on Wednesday, hitting $334.73. The company's stock had a trading volume of 523,604 shares, compared to its average volume of 1,684,319. The company has a 50-day moving average price of $313.58 and a two-hundred day moving average price of $311.06. The company has a market cap of $91.61 billion, a price-to-earnings ratio of 27.35, a PEG ratio of 0.98 and a beta of 0.51. 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 has a 1-year low of $262.03 and a 1-year high of $370.83.

The Cigna Group (NYSE:CI - Get Free Report) last posted its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share 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 prior year, the business posted $6.79 earnings per share. As a group, sell-side analysts predict that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend was Wednesday, March 5th. 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 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.