Moore Capital Management LP Invests $16.06 Million in The Cigna Group (NYSE:CI)

Moore Capital Management LP bought a new position in The Cigna Group (NYSE:CI) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 58,170 shares of the health services provider’s stock, valued at approximately $16,063,000.

A number of other large investors have also bought and sold shares of the business. Massachusetts Financial Services Co. MA raised its stake in shares of The Cigna Group by 4.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 11,556,278 shares of the health services provider’s stock worth $3,191,151,000 after acquiring an additional 501,320 shares during the last quarter. Sanders Capital LLC raised its position in The Cigna Group by 2.0% in the 4th quarter. Sanders Capital LLC now owns 8,054,959 shares of the health services provider’s stock worth $2,224,296,000 after purchasing an additional 154,420 shares during the last quarter. Geode Capital Management LLC lifted its holdings in The Cigna Group by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 5,957,180 shares of the health services provider’s stock worth $1,640,878,000 after buying an additional 101,737 shares in the last quarter. GQG Partners LLC boosted its position in The Cigna Group by 22.4% in the 4th quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider’s stock valued at $1,110,520,000 after buying an additional 737,099 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of The Cigna Group in the 4th quarter valued at $867,785,000. 86.99% of the stock is currently owned by institutional investors.

Insider Activity

In other The Cigna Group news, CEO David Cordani sold 26,527 shares of the business’s 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 of the company’s stock, valued at $39,367,568.04. The trade was a 17.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nicole S. Jones sold 4,904 shares of the company’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 value of $1,511,020.48. Following the completion of the sale, the insider now owns 29,421 shares in the company, valued at $9,065,198.52. This represents a 14.29% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,751 shares of company stock valued at $13,603,991. 0.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Robert W. Baird decreased their price target on The Cigna Group from $388.00 to $362.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. Royal Bank of Canada set a $355.00 target price on shares of The Cigna Group in a research note on Friday, January 31st. Barclays increased their price objective on shares of The Cigna Group from $339.00 to $382.00 and gave the company an “overweight” rating in a report on Monday, May 5th. Raymond James reiterated a “strong-buy” rating and set a $360.00 target price (down previously from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Finally, Cowen reiterated a “buy” rating on shares of The Cigna Group in a report on Monday, May 5th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, The Cigna Group presently has a consensus rating of “Buy” and an average price target of $378.22.

The Cigna Group Stock Up 0.2%

CI stock opened at $333.79 on Monday. 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 stock has a market capitalization of $89.17 billion, a P/E ratio of 27.27, a P/E/G ratio of 0.98 and a beta of 0.47. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The business has a 50-day moving average of $325.84 and a 200-day moving average of $310.01.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share for the quarter, topping the consensus estimate of $6.35 by $0.39. The company had revenue of $65.45 billion during the quarter, compared to analysts’ expectations of $60.39 billion. The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. The business’s quarterly revenue was up 14.4% on a year-over-year basis. During the same period last year, the business earned $6.47 EPS. On average, sell-side analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The business 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 dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis 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 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.