AXQ Capital LP Invests $422,000 in The Cigna Group (NYSE:CI)

AXQ Capital LP bought a new stake in The Cigna Group (NYSE:CI) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,527 shares of the health services provider’s stock, valued at approximately $422,000.

Several other large investors also recently bought and sold shares of the business. TCTC Holdings LLC purchased a new position in shares of The Cigna Group in the 4th quarter worth $25,000. Collier Financial bought a new position in shares of The Cigna Group in the 4th quarter valued at about $32,000. ORG Wealth Partners LLC purchased a new position in The Cigna Group in the fourth quarter worth about $34,000. Prospera Private Wealth LLC purchased a new position in The Cigna Group in the third quarter worth about $37,000. Finally, Compagnie Lombard Odier SCmA bought a new stake in The Cigna Group during the fourth quarter worth approximately $37,000. Institutional investors own 86.99% of the company’s stock.

Insider Activity

In related news, insider Noelle K. Eder sold 9,944 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the completion of the sale, the insider now directly owns 13,406 shares in the company, valued at $4,289,920. This represents a 42.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Nicole S. Jones sold 4,904 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 value of $1,511,020.48. Following the completion of the transaction, the insider now owns 29,421 shares in the company, valued at $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 ninety days, insiders have sold 43,751 shares of company stock worth $13,603,991. Corporate insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CI. Barclays lowered their price objective on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Wells Fargo & Company lowered their price target on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Truist Financial cut their price objective on shares of The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. Cantor Fitzgerald raised their target price on shares of The Cigna Group from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Stephens cut their price target on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, The Cigna Group currently has an average rating of “Buy” and an average target price of $373.25.

The Cigna Group Trading Down 1.4 %

CI opened at $316.78 on Friday. 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’s fifty day moving average is $300.83 and its two-hundred day moving average is $315.05. The company has a market capitalization of $86.70 billion, a P/E ratio of 25.88, a PEG ratio of 0.98 and a beta of 0.53. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share 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 company earned $6.79 earnings per share. Analysts forecast that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were given a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend was Wednesday, March 5th. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio is presently 49.35%.

The Cigna Group 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.