Family Office Research LLC Buys Shares of 1,088 The Cigna Group (NYSE:CI)

Family Office Research LLC purchased a new position in The Cigna Group (NYSE:CI) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,088 shares of the health services provider’s stock, valued at approximately $301,000.

Other institutional investors also recently modified their holdings of the company. Covestor Ltd raised its position in shares of The Cigna Group by 5.7% during the fourth quarter. Covestor Ltd now owns 865 shares of the health services provider’s stock worth $239,000 after purchasing an additional 47 shares during the period. Argent Trust Co raised its holdings in shares of The Cigna Group by 3.6% in the 4th quarter. Argent Trust Co now owns 4,243 shares of the health services provider’s stock worth $1,172,000 after acquiring an additional 148 shares during the last quarter. Capital Fund Management S.A. acquired a new position in The Cigna Group during the 4th quarter valued at about $18,438,000. CenterBook Partners LP increased its holdings in The Cigna Group by 1,223.3% during the 4th quarter. CenterBook Partners LP now owns 32,368 shares of the health services provider’s stock worth $8,938,000 after purchasing an additional 29,922 shares in the last quarter. Finally, APG Asset Management US Inc. boosted its position in shares of The Cigna Group by 9.0% during the fourth quarter. APG Asset Management US Inc. now owns 5,777 shares of the health services provider’s stock valued at $1,595,000 after buying an additional 476 shares during the last quarter. 86.99% of the stock is owned by institutional investors.

Insider Transactions at The Cigna Group

In other news, CEO David Cordani sold 26,527 shares of The Cigna Group stock in a transaction dated Monday, March 3rd. The shares were 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 of the company’s stock, valued at approximately $39,367,568.04. The trade was a 17.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Nicole S. Jones sold 4,904 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $1,511,020.48. Following the completion of the transaction, the insider now owns 29,421 shares of the company’s stock, valued at approximately $9,065,198.52. This trade represents a 14.29 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,751 shares of company stock worth $13,603,991. Insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Royal Bank of Canada set a $355.00 target price on shares of The Cigna Group in a report on Friday, January 31st. Raymond James reiterated a “strong-buy” rating and set a $360.00 price target (down from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Guggenheim assumed coverage on The Cigna Group in a research note on Wednesday. They issued a “buy” rating and a $384.00 price objective for the company. Truist Financial cut their price target on shares of The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. Finally, Wells Fargo & Company decreased their price objective on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $374.44.

The Cigna Group Stock Up 2.3 %

CI opened at $327.31 on Friday. The business’s fifty day simple moving average is $311.28 and its 200 day simple moving average is $311.44. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. 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 stock has a market cap of $89.58 billion, a PE ratio of 26.74, a P/E/G ratio of 0.98 and a beta of 0.51.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing the consensus estimate 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 period in the prior year, the business earned $6.79 EPS. As a group, research analysts expect that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were given a $1.51 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $6.04 annualized dividend and a yield of 1.85%. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s payout ratio is presently 49.35%.

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.