Tidal Investments LLC Acquires 5,690 Shares of The Cigna Group (NYSE:CI)

Tidal Investments LLC lifted its holdings in shares of The Cigna Group (NYSE:CI) by 36.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 21,210 shares of the health services provider’s stock after purchasing an additional 5,690 shares during the period. Tidal Investments LLC’s holdings in The Cigna Group were worth $5,857,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Kesler Norman & Wride LLC grew its holdings in shares of The Cigna Group by 1.8% during the fourth quarter. Kesler Norman & Wride LLC now owns 2,033 shares of the health services provider’s stock worth $562,000 after purchasing an additional 35 shares during the last quarter. Hudson Edge Investment Partners Inc. grew its holdings in shares of The Cigna Group by 1.9% during the fourth quarter. Hudson Edge Investment Partners Inc. now owns 1,883 shares of the health services provider’s stock worth $520,000 after purchasing an additional 36 shares during the last quarter. Meridian Wealth Management LLC grew its holdings in shares of The Cigna Group by 1.0% during the fourth 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 last quarter. Mindset Wealth Management LLC grew its holdings 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 worth $406,000 after purchasing an additional 37 shares during the last quarter. Finally, Jacobi Capital Management LLC grew its holdings in shares of 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 worth $483,000 after purchasing an additional 38 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Trading Up 0.9%

NYSE:CI opened at $324.75 on Wednesday. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The business’s 50-day moving average price is $325.48 and its two-hundred day moving average price is $310.02. 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 firm has a market capitalization of $86.75 billion, a price-to-earnings ratio of 26.53, a PEG ratio of 0.98 and a beta of 0.47.

The Cigna Group (NYSE:CI) last released its earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share for the quarter, beating the consensus estimate of $6.35 by $0.39. The firm had revenue of $65.45 billion for the quarter, compared to analyst estimates of $60.39 billion. The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. The company’s quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.47 earnings per share. On average, equities analysts expect 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 dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend is Tuesday, June 3rd. The Cigna Group’s dividend payout ratio is currently 33.44%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Morgan Stanley upped their price target on The Cigna Group from $379.00 to $390.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. Mizuho upped their price target on The Cigna Group from $360.00 to $384.00 and gave the company an “outperform” rating in a research note on Wednesday, April 9th. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 8th. Cowen reaffirmed a “buy” rating on shares of The Cigna Group in a research note on Monday, May 5th. Finally, Cantor Fitzgerald upped their price target on The Cigna Group from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, The Cigna Group has a consensus rating of “Buy” and a consensus price target of $379.33.

Insider Transactions at The Cigna Group

In related news, Director Elder Granger sold 2,376 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $310.35, for a total transaction of $737,391.60. Following the completion of the transaction, the director now directly owns 5,471 shares in the company, valued at approximately $1,697,924.85. This trade represents a 30.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Noelle K. Eder sold 9,944 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $320.00, for a total value of $3,182,080.00. Following 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 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 90 days. 0.70% of the stock is owned by company insiders.

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.