World Investment Advisors Boosts Position in The Cigna Group (NYSE:CI)

World Investment Advisors raised its stake in The Cigna Group (NYSE:CI) by 115.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,495 shares of the health services provider’s stock after buying an additional 1,875 shares during the period. World Investment Advisors’ holdings in The Cigna Group were worth $965,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in CI. Kesler Norman & Wride LLC raised its holdings in shares of The Cigna Group by 1.8% in the fourth quarter. Kesler Norman & Wride LLC now owns 2,033 shares of the health services provider’s stock valued at $562,000 after acquiring an additional 35 shares in the last quarter. Hudson Edge Investment Partners Inc. raised its holdings in shares of The Cigna Group by 1.9% in the 4th quarter. Hudson Edge Investment Partners Inc. now owns 1,883 shares of the health services provider’s stock valued at $520,000 after purchasing an additional 36 shares in the last quarter. Meridian Wealth Management LLC lifted its position in shares of The Cigna Group by 1.0% in the 4th quarter. Meridian Wealth Management LLC now owns 3,670 shares of the health services provider’s stock worth $1,013,000 after purchasing an additional 37 shares during the period. Mindset Wealth Management LLC boosted its stake in shares of The Cigna Group by 2.6% during the fourth quarter. Mindset Wealth Management LLC now owns 1,469 shares of the health services provider’s stock valued at $406,000 after purchasing an additional 37 shares in the last quarter. Finally, Jacobi Capital Management LLC increased its holdings in The Cigna Group by 2.2% during the fourth quarter. Jacobi Capital Management LLC now owns 1,749 shares of the health services provider’s stock valued at $483,000 after buying an additional 38 shares during the period. 86.99% of the stock is currently owned by institutional investors.

The Cigna Group Stock Performance

Shares of NYSE CI opened at $322.02 on Monday. The company has a 50 day simple moving average of $308.72 and a two-hundred day simple moving average of $312.39. The stock has a market cap of $88.13 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 0.98 and a beta of 0.50. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83.

The Cigna Group (NYSE:CI) last posted 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 net margin of 1.39% and a return on equity of 18.61%. During the same quarter last year, the company earned $6.79 EPS. As a group, analysts predict that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 1.88%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date was Wednesday, March 5th. The Cigna Group’s payout ratio is 49.35%.

Analysts Set New Price Targets

CI has been the topic of several recent research reports. UBS Group dropped their target price on 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. Royal Bank of Canada set a $355.00 target price on The Cigna Group in a research note on Friday, January 31st. Cantor Fitzgerald increased their price target on shares of The Cigna Group from $350.00 to $365.00 and gave the company an “overweight” rating in a research report on Thursday, March 20th. Barclays cut their price objective on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Finally, Truist Financial decreased their target price on shares of The Cigna Group from $390.00 to $375.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $373.25.

Insider Activity at The Cigna Group

In other news, CEO David Cordani sold 26,527 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 127,767 shares in the company, valued at $39,367,568.04. This trade represents a 17.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Noelle K. Eder sold 9,944 shares of The Cigna Group stock in a transaction on Friday, March 7th. The shares were sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the completion of the sale, the insider now directly owns 13,406 shares in the company, valued at $4,289,920. This represents a 42.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,751 shares of company stock worth $13,603,991 in the last three months. Company insiders own 0.70% of the company’s stock.

The Cigna Group Company 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.