Orion Portfolio Solutions LLC Boosts Stock Position in The Cigna Group (NYSE:CI)

Orion Portfolio Solutions LLC grew its holdings in shares of The Cigna Group (NYSE:CI - Free Report) by 13.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 44,991 shares of the health services provider's stock after purchasing an additional 5,258 shares during the quarter. Orion Portfolio Solutions LLC's holdings in The Cigna Group were worth $12,424,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of CI. Larson Financial Group LLC raised its position in The Cigna Group by 56.3% in the 3rd quarter. Larson Financial Group LLC now owns 261 shares of the health services provider's stock valued at $90,000 after purchasing an additional 94 shares in the last quarter. Loomis Sayles & Co. L P grew its holdings in shares of The Cigna Group by 21.2% during the third quarter. Loomis Sayles & Co. L P now owns 246 shares of the health services provider's stock worth $85,000 after buying an additional 43 shares during the last quarter. CreativeOne Wealth LLC lifted its position in The Cigna Group by 3.0% in the third quarter. CreativeOne Wealth LLC now owns 1,219 shares of the health services provider's stock valued at $422,000 after purchasing an additional 35 shares during the period. Fiduciary Trust Co boosted its stake in shares of The Cigna Group by 2.0% in the third quarter. Fiduciary Trust Co now owns 19,946 shares of the health services provider's stock valued at $6,910,000 after buying an additional 387 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its holdings in The Cigna Group by 5.5% during the third quarter. Public Sector Pension Investment Board now owns 11,603 shares of the health services provider's stock worth $4,020,000 after buying an additional 600 shares in the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

CI has been the subject of several recent analyst reports. Piper Sandler restated an "overweight" rating and issued a $348.00 price target (down previously from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. 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 note on Friday, January 31st. UBS Group cut their price objective on shares of The Cigna Group from $410.00 to $390.00 and set a "buy" rating on the stock in a research report on Monday, February 3rd. 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 note on Friday, January 31st. Finally, Raymond James reaffirmed a "strong-buy" rating and issued a $360.00 price objective (down previously from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, The Cigna Group has a consensus rating of "Buy" and a consensus target price of $373.25.

Insider Buying and Selling

In other The Cigna Group news, insider Nicole S. Jones sold 4,904 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the completion of the sale, the insider now directly owns 29,421 shares in the company, valued at approximately $9,065,198.52. The trade was a 14.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Elder Granger sold 2,376 shares of The Cigna Group stock in a transaction on Friday, March 14th. The stock was sold at an average price of $310.35, for a total transaction of $737,391.60. Following the transaction, the director now 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 in the last ninety days. 0.70% of the stock is owned by insiders.

The Cigna Group Stock Up 1.3 %

NYSE CI traded up $4.29 on Monday, hitting $329.33. 2,128,567 shares of the company were exchanged, compared to its average volume of 1,654,150. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The stock has a fifty day moving average of $304.67 and a 200-day moving average of $313.47. The company has a market cap of $90.13 billion, a PE ratio of 26.91, a PEG ratio of 0.98 and a beta of 0.53.

The Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings results 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 return on equity of 18.61% and a net margin of 1.39%. During the same period in the prior year, the business earned $6.79 EPS. As a group, analysts forecast that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were paid a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.83%. 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 payout ratio is 49.35%.

The Cigna Group 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.