StrategIQ Financial Group LLC Purchases 436 Shares of The Cigna Group (NYSE:CI)

StrategIQ Financial Group LLC increased its position in shares of The Cigna Group (NYSE:CIFree Report) by 20.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,538 shares of the health services provider’s stock after buying an additional 436 shares during the period. StrategIQ Financial Group LLC’s holdings in The Cigna Group were worth $760,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Moneta Group Investment Advisors LLC grew its stake in The Cigna Group by 154,255.6% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 11,954,841 shares of the health services provider’s stock valued at $3,961,117,000 after purchasing an additional 11,947,096 shares during the last quarter. Norges Bank purchased a new position in shares of The Cigna Group in the fourth quarter worth about $963,542,000. Parnassus Investments LLC acquired a new stake in The Cigna Group during the 3rd quarter valued at approximately $731,041,000. FMR LLC increased its stake in shares of The Cigna Group by 13.8% in the third quarter. FMR LLC now owns 15,967,363 shares of the health services provider’s stock worth $4,567,783,000 after acquiring an additional 1,939,554 shares during the period. Finally, Point72 Asset Management L.P. boosted its holdings in The Cigna Group by 13,563.1% in the second quarter. Point72 Asset Management L.P. now owns 596,121 shares of the health services provider’s stock valued at $167,272,000 after purchasing an additional 591,758 shares during the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Stock Performance

Shares of CI traded up $0.07 during mid-day trading on Wednesday, hitting $363.16. The stock had a trading volume of 167,142 shares, compared to its average volume of 1,631,307. The company has a market cap of $106.17 billion, a PE ratio of 20.88, a PEG ratio of 1.12 and a beta of 0.56. The Cigna Group has a fifty-two week low of $240.50 and a fifty-two week high of $365.71. The company’s fifty day simple moving average is $337.92 and its two-hundred day simple moving average is $309.85. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.61.

The Cigna Group (NYSE:CIGet Free Report) last announced its quarterly earnings results on Friday, February 2nd. The health services provider reported $6.79 earnings per share for the quarter, topping analysts’ consensus estimates of $6.54 by $0.25. The Cigna Group had a return on equity of 13.59% and a net margin of 2.64%. The business had revenue of $51.15 billion for the quarter, compared to analysts’ expectations of $48.91 billion. During the same period in the prior year, the firm earned $4.96 EPS. The business’s quarterly revenue was up 11.8% on a year-over-year basis. On average, equities analysts expect that The Cigna Group will post 28.36 earnings per share for the current year.

The Cigna Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th were issued a $1.40 dividend. The ex-dividend date was Tuesday, March 5th. This is a boost from The Cigna Group’s previous quarterly dividend of $1.23. This represents a $5.60 annualized dividend and a dividend yield of 1.54%. The Cigna Group’s dividend payout ratio (DPR) is 32.20%.

Insider Transactions at The Cigna Group

In other news, CEO David Cordani sold 38,065 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $335.22, for a total transaction of $12,760,149.30. Following the completion of the sale, the chief executive officer now owns 329,321 shares in the company, valued at approximately $110,394,985.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO David Cordani sold 38,065 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $335.22, for a total value of $12,760,149.30. Following the completion of the transaction, the chief executive officer now owns 329,321 shares of the company’s stock, valued at approximately $110,394,985.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eric P. Palmer sold 6,083 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $340.00, for a total value of $2,068,220.00. Following the completion of the sale, the insider now owns 44,649 shares of the company’s stock, valued at approximately $15,180,660. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 114,144 shares of company stock valued at $39,296,330. Corporate insiders own 0.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 14th. Sanford C. Bernstein upgraded The Cigna Group from a “market perform” rating to an “outperform” rating and raised their price target for the company from $330.00 to $372.00 in a research note on Thursday, January 4th. Mizuho increased their target price on shares of The Cigna Group from $360.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, February 5th. Barclays initiated coverage on The Cigna Group in a research note on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 price objective for the company. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $392.00 price objective (up from $382.00) on shares of The Cigna Group in a research report on Monday, March 4th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $361.29.

Get Our Latest Stock Analysis on CI

The Cigna Group Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for The Cigna Group (NYSE:CI)

Receive News & Ratings for The Cigna Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Cigna Group and related companies with MarketBeat.com's FREE daily email newsletter.