Zacks Investment Management Invests $214,000 in The Cigna Group (NYSE:CI)

Zacks Investment Management purchased a new position in The Cigna Group (NYSE:CI - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 775 shares of the health services provider's stock, valued at approximately $214,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. TCTC Holdings LLC purchased a new position in shares of The Cigna Group during the 4th quarter valued at about $25,000. Collier Financial purchased a new stake in The Cigna Group during the fourth quarter valued at $32,000. ORG Wealth Partners LLC purchased a new position in shares of The Cigna Group in the 4th quarter worth $34,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of The Cigna Group during the 4th quarter valued at about $37,000. Finally, Heck Capital Advisors LLC bought a new position in shares of The Cigna Group in the 4th quarter valued at about $53,000. Institutional investors own 86.99% of the company's stock.

The Cigna Group Stock Performance

NYSE:CI traded down $1.16 during trading hours on Thursday, hitting $335.53. 1,341,301 shares of the company were exchanged, compared to its average volume of 1,698,262. The company's 50 day moving average price is $318.14 and its 200-day moving average price is $310.78. The stock has a market capitalization of $91.83 billion, a price-to-earnings ratio of 27.41, a PEG ratio of 0.98 and a beta of 0.51. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. 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 earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) 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 period in the previous year, the business posted $6.79 earnings per share. As a group, research analysts forecast that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be paid a $1.51 dividend. 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 payout ratio is currently 49.35%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CI. Piper Sandler restated an "overweight" rating and set a $348.00 price objective (down from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Morgan Stanley dropped their price objective on shares of 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. Wells Fargo & Company reduced 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. Stephens dropped 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 note on Friday, January 31st. Finally, Cantor Fitzgerald raised their price objective on shares of The Cigna Group from $350.00 to $365.00 and gave the stock an "overweight" rating in a research note on Thursday, March 20th. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, The Cigna Group currently has a consensus rating of "Buy" and a consensus price target of $373.56.

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 dated 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 sale, the insider now directly owns 13,406 shares in the company, valued at $4,289,920. This trade represents a 42.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Elder Granger sold 2,376 shares of the company's 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 transaction, the director now directly owns 5,471 shares of the company's stock, valued at $1,697,924.85. The trade was a 30.28 % decrease in their position. 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. Company insiders own 0.70% of the company's stock.

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.