Mariner LLC Increases Stock Position in The Cigna Group (NYSE:CI)

Mariner LLC boosted its holdings in shares of The Cigna Group (NYSE:CI) by 12.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 50,728 shares of the health services provider’s stock after buying an additional 5,808 shares during the quarter. Mariner LLC’s holdings in The Cigna Group were worth $14,008,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Sanders Capital LLC raised its stake in shares of The Cigna Group by 2.0% during 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 acquiring an additional 154,420 shares in the last quarter. Advisors Capital Management LLC lifted its holdings in shares of The Cigna Group by 18.9% during the 4th quarter. Advisors Capital Management LLC now owns 1,737 shares of the health services provider’s stock valued at $480,000 after purchasing an additional 276 shares during the last quarter. Sagespring Wealth Partners LLC acquired a new stake in shares of The Cigna Group in the 4th quarter worth $877,000. Townsquare Capital LLC increased its position in The Cigna Group by 1.6% during the 4th quarter. Townsquare Capital LLC now owns 35,634 shares of the health services provider’s stock valued at $9,840,000 after buying an additional 552 shares in the last quarter. Finally, NFP Retirement Inc. purchased a new stake in The Cigna Group in the fourth quarter valued at about $312,000. Institutional investors own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

CI has been the topic of several recent analyst reports. Truist Financial upped their price objective on shares of The Cigna Group from $375.00 to $385.00 and gave the company a “buy” rating in a report on Friday, April 11th. Barclays lowered their price objective on shares of 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. Morgan Stanley cut their target price on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Cantor Fitzgerald lifted their price target on The Cigna Group from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Thursday, March 20th. Finally, Wells Fargo & Company dropped their price target on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, The Cigna Group presently has a consensus rating of “Buy” and a consensus price target of $373.56.

Insider Activity at The Cigna Group

In related news, insider Nicole S. Jones sold 4,904 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the completion of the sale, the insider now directly owns 29,421 shares in the company, valued at approximately $9,065,198.52. This trade represents a 14.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Elder Granger sold 2,376 shares of the business’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 in the company, valued at $1,697,924.85. The trade was a 30.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,751 shares of company stock valued at $13,603,991. Corporate insiders own 0.70% of the company’s stock.

The Cigna Group Stock Up 0.2 %

CI opened at $329.97 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 Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The company has a market cap of $90.30 billion, a PE ratio of 26.96, a price-to-earnings-growth ratio of 0.98 and a beta of 0.51. The company has a 50-day moving average price of $315.18 and a 200 day moving average price of $311.07.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing analysts’ consensus estimates 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 previous year, the business posted $6.79 earnings per share. Sell-side analysts expect that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently declared 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. The ex-dividend date was Wednesday, March 5th. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a yield of 1.83%. The Cigna Group’s 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.