Voya Investment Management LLC Increases Stake in The Cigna Group (NYSE:CI)

Voya Investment Management LLC lifted its holdings in shares of The Cigna Group (NYSE:CI - Free Report) by 28.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 346,992 shares of the health services provider's stock after acquiring an additional 76,050 shares during the quarter. Voya Investment Management LLC owned 0.12% of The Cigna Group worth $95,818,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CI. Sterling Financial Group Inc. purchased a new stake in The Cigna Group in the fourth quarter worth $4,367,000. Principal Financial Group Inc. raised its stake in The Cigna Group by 3.6% in the 3rd quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider's stock valued at $112,216,000 after acquiring an additional 11,228 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. lifted its holdings in The Cigna Group by 1.1% during the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider's stock valued at $20,942,000 after purchasing an additional 858 shares during the last quarter. Valley Wealth Managers Inc. raised its position in shares of The Cigna Group by 2.8% in the fourth quarter. Valley Wealth Managers Inc. now owns 56,933 shares of the health services provider's stock valued at $15,721,000 after purchasing an additional 1,548 shares during the period. Finally, Pine Valley Investments Ltd Liability Co boosted its holdings in The Cigna Group by 28.3% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 15,713 shares of the health services provider's stock worth $5,444,000 after buying an additional 3,466 shares during the period. Institutional investors own 86.99% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on CI shares. 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. Stephens reduced their price target on shares of The Cigna Group from $410.00 to $380.00 and set an "overweight" rating for the company in a research report on Friday, January 31st. Oppenheimer dropped their price objective on The Cigna Group from $400.00 to $375.00 and set an "outperform" rating for the company in a research note on Friday, January 31st. Cantor Fitzgerald boosted their price objective on The Cigna Group from $350.00 to $365.00 and gave the stock an "overweight" rating in a report on Thursday, March 20th. Finally, Wells Fargo & Company lowered their target price on shares of The Cigna Group from $370.00 to $341.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 4th. 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 MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $373.56.

Insider Activity

In other news, insider Nicole S. Jones sold 4,904 shares of the company's stock in a transaction 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 transaction, the insider now directly 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Elder Granger sold 2,376 shares of The Cigna Group stock in a transaction dated Friday, March 14th. The stock was 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 of the company's stock, valued at $1,697,924.85. The trade was a 30.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,751 shares of company stock worth $13,603,991 over the last three months. 0.70% of the stock is currently owned by corporate insiders.

The Cigna Group Stock Down 0.1 %

Shares of NYSE:CI traded down $0.27 during trading on Monday, hitting $335.09. The stock had a trading volume of 1,347,165 shares, compared to its average volume of 1,702,241. The company has a market capitalization of $91.71 billion, a PE ratio of 27.38, a PEG ratio of 0.98 and a beta of 0.51. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70. The firm's fifty day moving average is $319.82 and its 200 day moving average is $310.16. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83.

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 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 period in the previous year, the business posted $6.79 EPS. Analysts anticipate that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be issued a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend is Tuesday, June 3rd. The Cigna Group's dividend payout ratio (DPR) is 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.