New Age Alpha Advisors LLC Increases Stock Position in The Cigna Group (NYSE:CI)

New Age Alpha Advisors LLC boosted its stake in The Cigna Group (NYSE:CI - Free Report) by 15,657.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,412 shares of the health services provider's stock after purchasing an additional 4,384 shares during the quarter. New Age Alpha Advisors LLC's holdings in The Cigna Group were worth $1,218,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CI. TCTC Holdings LLC bought a new position in shares of The Cigna Group during the 4th quarter valued at approximately $25,000. Collier Financial bought a new stake in shares of The Cigna Group during the fourth quarter worth $32,000. ORG Wealth Partners LLC purchased a new stake in shares of The Cigna Group during the fourth quarter valued at $34,000. Compagnie Lombard Odier SCmA purchased a new position in The Cigna Group in the 4th quarter worth about $37,000. Finally, Heck Capital Advisors LLC purchased a new stake in The Cigna Group in the 4th quarter valued at about $53,000. 86.99% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CI. Morgan Stanley lowered their price target on The Cigna Group from $403.00 to $379.00 and set an "overweight" rating for the company in a report on Friday, January 31st. StockNews.com raised The Cigna Group from a "buy" rating to a "strong-buy" rating in a report on Saturday, March 29th. Truist Financial cut their price objective on shares of The Cigna Group from $390.00 to $375.00 and set a "buy" rating on the stock in a report on Tuesday, February 4th. Cantor Fitzgerald boosted their target price on shares of The Cigna Group from $350.00 to $365.00 and gave the stock an "overweight" rating in a research report on Thursday, March 20th. Finally, Royal Bank of Canada set a $355.00 target price on The Cigna Group in a research report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $373.25.

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Insider Activity at The Cigna Group

In other news, insider Noelle K. Eder sold 9,944 shares of the firm's stock in a transaction that occurred on 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 directly owns 13,406 shares in the company, valued at approximately $4,289,920. This trade represents a 42.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Elder Granger sold 2,376 shares of The Cigna Group 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 completion of the sale, the director now owns 5,471 shares in the company, valued at approximately $1,697,924.85. This trade represents a 30.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,751 shares of company stock worth $13,603,991. Company insiders own 0.70% of the company's stock.

The Cigna Group Trading Up 0.4 %

CI stock traded up $1.24 during trading on Friday, reaching $339.69. 775,597 shares of the stock were exchanged, compared to its average volume of 1,769,931. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. 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 firm has a market capitalization of $92.97 billion, a price-to-earnings ratio of 27.75, a P/E/G ratio of 0.98 and a beta of 0.50. The business has a 50 day moving average price of $308.16 and a 200-day moving average price of $313.31.

The Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business earned $6.79 earnings per share. On average, research 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. Stockholders of record on Wednesday, March 5th were paid a $1.51 dividend. This is a boost from The Cigna Group's previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a dividend yield of 1.78%. The ex-dividend date was Wednesday, March 5th. The Cigna Group's dividend payout ratio (DPR) is presently 49.35%.

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.