NewEdge Advisors LLC Buys 894 Shares of The Cigna Group (NYSE:CI)

NewEdge Advisors LLC boosted its stake in The Cigna Group (NYSE:CI - Free Report) by 3.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,078 shares of the health services provider's stock after acquiring an additional 894 shares during the period. NewEdge Advisors LLC's holdings in The Cigna Group were worth $7,477,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its holdings in The Cigna Group by 4.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 11,556,278 shares of the health services provider's stock valued at $3,191,151,000 after buying an additional 501,320 shares in the last quarter. Sanders Capital LLC grew its stake in The Cigna Group by 2.0% during the fourth quarter. Sanders Capital LLC now owns 8,054,959 shares of the health services provider's stock valued at $2,224,296,000 after acquiring an additional 154,420 shares in the last quarter. Geode Capital Management LLC increased its holdings in The Cigna Group by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 5,957,180 shares of the health services provider's stock worth $1,640,878,000 after acquiring an additional 101,737 shares during the period. GQG Partners LLC lifted its stake in The Cigna Group by 22.4% in the 4th quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider's stock worth $1,110,520,000 after purchasing an additional 737,099 shares in the last quarter. Finally, Norges Bank bought a new position in The Cigna Group in the 4th quarter valued at $867,785,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

The Cigna Group Trading Down 0.4 %

Shares of NYSE CI traded down $1.20 during mid-day trading on Thursday, hitting $335.49. The stock had a trading volume of 336,584 shares, compared to its average volume of 1,692,083. The business has a 50 day moving average price of $318.14 and a two-hundred day moving average price of $310.78. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. 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 firm has a market cap of $91.82 billion, a P/E ratio of 27.37, a price-to-earnings-growth ratio of 0.98 and a beta of 0.51.

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 earnings per share (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 previous year, the firm posted $6.79 earnings per share. On average, equities analysts anticipate that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The firm 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 dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 1.80%. The Cigna Group's dividend payout ratio (DPR) is presently 49.35%.

Insider Activity

In related news, insider Noelle K. Eder sold 9,944 shares of the business's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the transaction, the insider now owns 13,406 shares in the company, valued at $4,289,920. The trade was a 42.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 owns 127,767 shares of the company's stock, valued at $39,367,568.04. This trade represents a 17.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,751 shares of company stock valued at $13,603,991. Company insiders own 0.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CI shares. 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. Raymond James reissued a "strong-buy" rating and set a $360.00 price objective (down previously from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. StockNews.com raised shares of The Cigna Group from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. Mizuho boosted their price target on shares of The Cigna Group from $360.00 to $384.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 9th. Finally, Guggenheim started coverage on shares of The Cigna Group in a research report on Wednesday, April 9th. They set a "buy" rating and a $384.00 price objective on the stock. Two 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 company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $373.56.

About The Cigna Group

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.