SVB Wealth LLC Makes New Investment in The Cigna Group (NYSE:CI)

SVB Wealth LLC acquired a new position in The Cigna Group (NYSE:CI - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 8,411 shares of the health services provider's stock, valued at approximately $2,323,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Bruni J V & Co. Co. grew its position in The Cigna Group by 0.9% in the fourth quarter. Bruni J V & Co. Co. now owns 108,155 shares of the health services provider's stock worth $29,866,000 after acquiring an additional 916 shares during the period. Altrius Capital Management Inc grew its position in The Cigna Group by 6.3% in the fourth quarter. Altrius Capital Management Inc now owns 14,416 shares of the health services provider's stock worth $3,981,000 after acquiring an additional 856 shares during the period. Generali Investments Towarzystwo Funduszy Inwestycyjnych grew its position in The Cigna Group by 30.2% in the fourth quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 2,800 shares of the health services provider's stock worth $773,000 after acquiring an additional 650 shares during the period. Linscomb Wealth Inc. grew its position in The Cigna Group by 2.9% in the fourth quarter. Linscomb Wealth Inc. now owns 10,811 shares of the health services provider's stock worth $2,985,000 after acquiring an additional 303 shares during the period. Finally, Proficio Capital Partners LLC grew its position in The Cigna Group by 34,280.8% in the fourth quarter. Proficio Capital Partners LLC now owns 238,603 shares of the health services provider's stock worth $65,888,000 after acquiring an additional 237,909 shares during the period. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

The Cigna Group Stock Performance

CI traded up $0.98 during trading on Wednesday, reaching $309.84. The company's stock had a trading volume of 1,313,699 shares, compared to its average volume of 1,843,769. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The company's fifty day moving average price is $291.31 and its 200-day moving average price is $318.05. The company has a market capitalization of $86.18 billion, a price-to-earnings ratio of 25.31, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. 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 Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings data 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 previous year, the business posted $6.79 earnings per share. On average, equities analysts forecast that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is 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 currently 49.35%.

Insider Buying and Selling at The Cigna Group

In related news, CEO David Cordani sold 26,527 shares of The Cigna Group 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 $8,173,499.24. Following the completion of the transaction, the chief executive officer now directly owns 127,767 shares in the company, valued at $39,367,568.04. The trade was a 17.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Nicole S. Jones sold 4,904 shares of The Cigna Group stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $1,511,020.48. Following the transaction, the insider now owns 29,421 shares of the company's stock, valued at $9,065,198.52. This represents a 14.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CI has been the subject of several research analyst reports. Cantor Fitzgerald lowered their price target on The Cigna Group from $400.00 to $350.00 and set an "overweight" rating for the company in a research report on Friday, January 31st. StockNews.com upgraded The Cigna Group from a "hold" rating to a "buy" rating in a research report on Wednesday, February 19th. Royal Bank of Canada set a $355.00 price target on The Cigna Group in a research report on Friday, January 31st. Raymond James restated a "strong-buy" rating and set a $360.00 price target (down from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Finally, Oppenheimer lowered their price target on The Cigna Group from $400.00 to $375.00 and set an "outperform" rating for the company in a research report on Friday, January 31st. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, The Cigna Group presently has a consensus rating of "Buy" and an average target price of $372.31.

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.