Quantbot Technologies LP Increases Stock Holdings in The Cigna Group (NYSE:CI)

Quantbot Technologies LP boosted its stake in The Cigna Group (NYSE:CI - Free Report) by 36.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,128 shares of the health services provider's stock after buying an additional 5,137 shares during the quarter. Quantbot Technologies LP's holdings in The Cigna Group were worth $5,282,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CI. TCTC Holdings LLC purchased a new stake in shares of The Cigna Group during the fourth quarter worth $25,000. Prospera Private Wealth LLC acquired a new position in The Cigna Group during the third quarter worth about $37,000. Collier Financial purchased a new stake in The Cigna Group during the 4th quarter valued at about $32,000. ORG Wealth Partners LLC acquired a new stake in The Cigna Group in the 4th quarter valued at about $34,000. Finally, Compagnie Lombard Odier SCmA purchased a new position in The Cigna Group in the 4th quarter worth approximately $37,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CI has been the subject of several recent research reports. Sanford C. Bernstein cut The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 price target for the company. in a report on Thursday, February 6th. Morgan Stanley cut their target price on The Cigna Group from $403.00 to $379.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. Oppenheimer lowered their price target on shares of The Cigna Group from $400.00 to $375.00 and set an "outperform" rating on the stock in a research report on Friday, January 31st. Piper Sandler reissued an "overweight" rating and issued a $348.00 price objective (down previously from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Finally, Truist Financial reduced their target price on shares of The Cigna Group from $390.00 to $375.00 and set a "buy" rating on the stock in a research note on Tuesday, February 4th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, The Cigna Group presently 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, Director Elder Granger sold 2,376 shares of the firm's stock in a transaction 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 sale, the director now directly owns 5,471 shares in the company, valued at approximately $1,697,924.85. This trade represents a 30.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Noelle K. Eder sold 9,944 shares of the business's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the transaction, the insider now owns 13,406 shares of the company's stock, valued at approximately $4,289,920. The trade was a 42.59 % 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 worth $13,603,991. Company insiders own 0.60% of the company's stock.

The Cigna Group Trading Down 1.2 %

Shares of CI stock traded down $3.76 on Tuesday, hitting $316.64. The stock had a trading volume of 1,172,135 shares, compared to its average volume of 1,565,175. The company's 50 day moving average price is $302.25 and its 200-day moving average price is $314.19. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The firm has a market capitalization of $86.66 billion, a P/E ratio of 25.87, a P/E/G ratio of 0.98 and a beta of 0.53. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72.

The Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings results 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 return on equity of 18.61% and a net margin of 1.39%. During the same quarter last year, the firm posted $6.79 EPS. Analysts anticipate 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 1.91%. The ex-dividend date was Wednesday, March 5th. The Cigna Group's dividend payout ratio (DPR) is presently 49.35%.

The Cigna Group 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.