Stevens Capital Management LP Purchases Shares of 1,590 The Cigna Group (NYSE:CI)

Stevens Capital Management LP acquired a new position in shares of The Cigna Group (NYSE:CI - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,590 shares of the health services provider's stock, valued at approximately $439,000.

A number of other large investors have also recently made changes to their positions in CI. Raymond James Financial Inc. purchased a new stake in The Cigna Group in the 4th quarter valued at $313,911,000. Amundi raised its holdings in shares of The Cigna Group by 19.9% in the fourth quarter. Amundi now owns 2,254,050 shares of the health services provider's stock valued at $628,579,000 after purchasing an additional 374,865 shares during the last quarter. Swedbank AB lifted its position in shares of The Cigna Group by 55.1% during the fourth quarter. Swedbank AB now owns 884,406 shares of the health services provider's stock valued at $244,220,000 after purchasing an additional 314,123 shares in the last quarter. FMR LLC boosted its holdings in The Cigna Group by 2.0% during the third quarter. FMR LLC now owns 14,230,397 shares of the health services provider's stock worth $4,929,978,000 after purchasing an additional 279,880 shares during the last quarter. Finally, Proficio Capital Partners LLC grew its position in The Cigna Group by 34,280.8% in the 4th quarter. Proficio Capital Partners LLC now owns 238,603 shares of the health services provider's stock worth $65,888,000 after purchasing an additional 237,909 shares in the last quarter. 86.99% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on CI shares. Barclays dropped their target price 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. Stephens cut their price objective on 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. Wells Fargo & Company decreased their target price on 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. Cantor Fitzgerald increased their price target on shares of The Cigna Group from $350.00 to $365.00 and gave the company an "overweight" rating in a research report on Thursday, March 20th. Finally, StockNews.com raised shares of The Cigna Group from a "hold" rating to a "buy" rating in a report on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $373.25.

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The Cigna Group Price Performance

NYSE CI traded down $3.76 during trading hours on Tuesday, hitting $316.64. The company had a trading volume of 1,172,135 shares, compared to its average volume of 1,566,979. 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 capitalization of $86.66 billion, a price-to-earnings ratio of 25.87, a PEG ratio of 0.98 and a beta of 0.53. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. The firm has a 50 day simple moving average of $301.62 and a 200 day simple moving average of $314.45.

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 business earned $6.79 earnings per share. Equities research analysts expect that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The company 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. This is a positive change from The Cigna Group's previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date was Wednesday, March 5th. The Cigna Group's payout ratio is 49.35%.

Insider Transactions at The Cigna Group

In related news, Director Elder Granger sold 2,376 shares of the company's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $310.35, for a total value of $737,391.60. Following the transaction, the director now directly owns 5,471 shares in the company, valued at approximately $1,697,924.85. This represents a 30.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,751 shares of company stock valued at $13,603,991. 0.60% of the stock is currently owned by company insiders.

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.