Covestor Ltd Increases Position in The Cigna Group (NYSE:CI)

Covestor Ltd grew its holdings in The Cigna Group (NYSE:CI) by 5.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 865 shares of the health services provider’s stock after purchasing an additional 47 shares during the quarter. Covestor Ltd’s holdings in The Cigna Group were worth $239,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Kesler Norman & Wride LLC grew its stake in shares of The Cigna Group by 1.8% in the 4th quarter. Kesler Norman & Wride LLC now owns 2,033 shares of the health services provider’s stock valued at $562,000 after buying an additional 35 shares during the period. Hudson Edge Investment Partners Inc. grew its position in The Cigna Group by 1.9% in the fourth quarter. Hudson Edge Investment Partners Inc. now owns 1,883 shares of the health services provider’s stock worth $520,000 after acquiring an additional 36 shares during the period. Meridian Wealth Management LLC increased its stake in 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 acquiring an additional 37 shares during the last quarter. Mindset Wealth Management LLC raised its position in The Cigna Group by 2.6% in the fourth quarter. Mindset Wealth Management LLC now owns 1,469 shares of the health services provider’s stock valued at $406,000 after purchasing an additional 37 shares during the period. Finally, Jacobi Capital Management LLC grew its holdings in shares of The Cigna Group by 2.2% during the 4th 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 period. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CI shares. Cantor Fitzgerald boosted their price target on shares of The Cigna Group from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Royal Bank of Canada set a $355.00 target price on The Cigna Group in a research report on Friday, January 31st. Barclays reduced their price target on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Finally, Guggenheim assumed coverage on shares of The Cigna Group in a research note on Wednesday. They set a “buy” rating and a $384.00 target price on the stock. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, The Cigna Group currently has an average rating of “Buy” and a consensus target price of $374.44.

Insider Transactions at The Cigna Group

In other news, Director Elder Granger sold 2,376 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were 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 owns 5,471 shares of the company’s stock, valued at $1,697,924.85. This represents a 30.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David Cordani sold 26,527 shares of the firm’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 completion of the sale, the chief executive officer now directly owns 127,767 shares in the company, valued at $39,367,568.04. This represents a 17.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,751 shares of company stock worth $13,603,991 over the last ninety days. 0.70% of the stock is currently owned by corporate insiders.

The Cigna Group Price Performance

NYSE:CI traded up $3.54 during trading hours on Thursday, hitting $323.53. The company’s stock had a trading volume of 345,926 shares, compared to its average volume of 1,678,242. The company has a market capitalization of $88.54 billion, a PE ratio of 26.43, a PEG ratio of 0.98 and a beta of 0.51. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The business’s 50-day moving average is $310.59 and its two-hundred day moving average is $311.62. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same period last year, the firm earned $6.79 EPS. As a group, research analysts anticipate that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 1.87%. 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 (DPR) is currently 49.35%.

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.