CoreCap Advisors LLC Has $260,000 Stock Holdings in The Cigna Group (NYSE:CI)

CoreCap Advisors LLC trimmed its stake in The Cigna Group (NYSE:CI) by 15.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 942 shares of the health services provider’s stock after selling 172 shares during the quarter. CoreCap Advisors LLC’s holdings in The Cigna Group were worth $260,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Capitolis Liquid Global Markets LLC acquired a new stake in The Cigna Group in the fourth quarter worth $12,426,000. BOKF NA grew its holdings in The Cigna Group by 210.6% in the fourth quarter. BOKF NA now owns 18,359 shares of the health services provider’s stock worth $5,122,000 after purchasing an additional 12,448 shares during the period. Brevan Howard Capital Management LP grew its holdings in The Cigna Group by 77.2% in the fourth quarter. Brevan Howard Capital Management LP now owns 33,585 shares of the health services provider’s stock worth $9,274,000 after purchasing an additional 14,630 shares during the period. Cary Street Partners Financial LLC acquired a new stake in The Cigna Group in the fourth quarter worth $6,716,000. Finally, Baird Financial Group Inc. grew its holdings in The Cigna Group by 29.3% in the fourth quarter. Baird Financial Group Inc. now owns 38,246 shares of the health services provider’s stock worth $10,561,000 after purchasing an additional 8,667 shares during the period. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CI has been the subject of a number of analyst reports. StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 8th. Sanford C. Bernstein cut shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective for the company. in a report on Thursday, February 6th. Morgan Stanley lifted their price objective on shares of The Cigna Group from $379.00 to $390.00 and gave the company an “overweight” rating in a report on Monday, May 5th. Piper Sandler lifted their price objective on shares of The Cigna Group from $348.00 to $374.00 and gave the company an “overweight” rating in a report on Monday, May 5th. Finally, Truist Financial lifted their price objective on shares of The Cigna Group from $375.00 to $385.00 and gave the company a “buy” rating in a report on Friday, April 11th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $378.22.

Insider Activity

In related news, insider Noelle K. Eder sold 9,944 shares of the business’s stock in a transaction that occurred 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Cordani sold 26,527 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 127,767 shares of the company’s stock, valued at approximately $39,367,568.04. This represents a 17.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,751 shares of company stock valued at $13,603,991 over the last quarter. Company insiders own 0.70% of the company’s stock.

The Cigna Group Stock Performance

NYSE CI opened at $333.79 on Monday. The company’s 50 day moving average is $325.84 and its 200-day moving average is $310.01. The Cigna Group has a 12-month low of $262.03 and a 12-month 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 firm has a market cap of $89.17 billion, a P/E ratio of 27.27, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.35 by $0.39. The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. The company had revenue of $65.45 billion for the quarter, compared to analyst estimates of $60.39 billion. During the same quarter in the previous year, the firm posted $6.47 earnings per share. The company’s quarterly revenue was up 14.4% compared to the same quarter last year. Sell-side analysts predict that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be given a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend is Tuesday, June 3rd. The Cigna Group’s dividend payout ratio (DPR) is currently 33.44%.

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.