1,050 Shares in The Cigna Group (NYSE:CI) Bought by Choreo LLC

Choreo LLC purchased a new stake in shares of The Cigna Group (NYSE:CI) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 1,050 shares of the health services provider’s stock, valued at approximately $314,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Bogart Wealth LLC grew its stake in shares of The Cigna Group by 104.5% during the 3rd quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock valued at $26,000 after acquiring an additional 46 shares during the period. OFI Invest Asset Management bought a new stake in The Cigna Group during the 3rd quarter worth approximately $26,000. Fortitude Family Office LLC purchased a new position in The Cigna Group during the fourth quarter valued at approximately $29,000. VisionPoint Advisory Group LLC boosted its position in shares of The Cigna Group by 112.2% in the third quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock worth $30,000 after purchasing an additional 55 shares during the period. Finally, Pacifica Partners Inc. increased its stake in shares of The Cigna Group by 73.2% in the fourth quarter. Pacifica Partners Inc. now owns 142 shares of the health services provider’s stock worth $43,000 after purchasing an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Down 0.9 %

NYSE CI opened at $341.45 on Friday. The stock has a 50 day moving average price of $350.82 and a 200-day moving average price of $319.39. The Cigna Group has a one year low of $240.50 and a one year high of $365.71. The company has a market capitalization of $99.82 billion, a P/E ratio of 19.63, a P/E/G ratio of 1.09 and a beta of 0.57. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.67 and a current ratio of 0.67.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, beating the consensus estimate of $6.17 by $0.30. The Cigna Group had a net margin of 2.64% and a return on equity of 13.59%. The business had revenue of $57.25 billion during the quarter, compared to analyst estimates of $56.59 billion. During the same quarter last year, the business earned $5.41 earnings per share. The Cigna Group’s quarterly revenue was up 23.2% compared to the same quarter last year. As a group, equities analysts predict that The Cigna Group will post 28.36 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th will be paid a dividend of $1.40 per share. The ex-dividend date is Tuesday, June 4th. This represents a $5.60 annualized dividend and a yield of 1.64%. The Cigna Group’s payout ratio is currently 32.20%.

Insider Buying and Selling at The Cigna Group

In other news, insider Eric P. Palmer sold 1,017 shares of The Cigna Group stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $335.26, for a total value of $340,959.42. Following the completion of the transaction, the insider now owns 45,564 shares in the company, valued at approximately $15,275,786.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO David Cordani sold 31,209 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $355.17, for a total transaction of $11,084,500.53. Following the transaction, the chief executive officer now directly owns 348,054 shares in the company, valued at approximately $123,618,339.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric P. Palmer sold 1,017 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $335.26, for a total transaction of $340,959.42. Following the completion of the sale, the insider now directly owns 45,564 shares of the company’s stock, valued at approximately $15,275,786.64. The disclosure for this sale can be found here. Insiders have sold a total of 114,144 shares of company stock worth $39,296,330 over the last ninety days. Company insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Morgan Stanley restated an “overweight” rating and set a $392.00 target price (up previously from $382.00) on shares of The Cigna Group in a research note on Monday, March 4th. Cantor Fitzgerald boosted their price objective on The Cigna Group from $384.00 to $400.00 and gave the company an “overweight” rating in a research report on Friday. Oppenheimer upped their price objective on The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft raised The Cigna Group from a “hold” rating to a “buy” rating and lifted their target price for the company from $355.00 to $370.00 in a research note on Thursday, February 1st. Finally, Mizuho upped their price target on The Cigna Group from $360.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, February 5th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, The Cigna Group currently has a consensus rating of “Buy” and an average price target of $366.14.

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.