Kovitz Investment Group Partners LLC lifted its stake in shares of The Cigna Group (NYSE:CI - Free Report) by 6.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,052 shares of the health services provider's stock after purchasing an additional 2,820 shares during the period. Kovitz Investment Group Partners LLC's holdings in The Cigna Group were worth $12,717,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of CI. Garden State Investment Advisory Services LLC acquired a new position in shares of The Cigna Group in the third quarter worth about $444,000. Advisory Resource Group lifted its position in shares of The Cigna Group by 2.0% in the 3rd quarter. Advisory Resource Group now owns 13,163 shares of the health services provider's stock valued at $4,560,000 after acquiring an additional 263 shares in the last quarter. Virtu Financial LLC boosted its stake in The Cigna Group by 39.6% in the 3rd quarter. Virtu Financial LLC now owns 17,173 shares of the health services provider's stock worth $5,949,000 after purchasing an additional 4,870 shares during the period. Te Ahumairangi Investment Management Ltd grew its position in The Cigna Group by 7.9% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 20,330 shares of the health services provider's stock worth $7,003,000 after purchasing an additional 1,490 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co raised its stake in The Cigna Group by 28.3% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 15,713 shares of the health services provider's stock valued at $5,444,000 after purchasing an additional 3,466 shares during the period. 86.99% of the stock is owned by hedge funds and other institutional investors.
The Cigna Group Trading Down 0.0 %
NYSE:CI opened at $335.60 on Friday. 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 company's 50 day moving average is $319.82 and its 200-day moving average is $310.69. The firm has a market cap of $91.85 billion, a price-to-earnings ratio of 27.42, a P/E/G ratio of 0.98 and a beta of 0.51. 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 released its earnings results 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 return on equity of 18.61% and a net margin of 1.39%. During the same quarter last year, the business posted $6.79 EPS. Equities analysts anticipate that The Cigna Group will post 29.77 EPS for the current year.
The Cigna Group Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be issued a dividend of $1.51 per share. The ex-dividend date is Tuesday, June 3rd. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.80%. The Cigna Group's dividend payout ratio (DPR) is presently 49.35%.
Insider Activity
In related news, Director Elder Granger sold 2,376 shares of the company's stock in a transaction on 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 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David Cordani sold 26,527 shares of The Cigna Group stock in a transaction 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 sale, the chief executive officer now owns 127,767 shares in the company, valued at $39,367,568.04. This represents a 17.19 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,751 shares of company stock valued at $13,603,991. 0.70% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on CI shares. Wells Fargo & Company lowered their price target on The Cigna Group from $370.00 to $341.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 4th. Piper Sandler reaffirmed an "overweight" rating and set a $348.00 target price (down previously from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Morgan Stanley reduced their price target on shares of The Cigna Group from $403.00 to $379.00 and set an "overweight" rating for the company in a research report on Friday, January 31st. UBS Group lowered 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. Finally, Cantor Fitzgerald increased 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. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, The Cigna Group has an average rating of "Buy" and an average target price of $373.56.
Check Out Our Latest Stock Report on CI
The Cigna Group Profile
(
Free Report)
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.
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