MGO One Seven LLC Decreases Holdings in The Cigna Group (NYSE:CI)

MGO One Seven LLC decreased its holdings in The Cigna Group (NYSE:CI) by 23.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,599 shares of the health services provider’s stock after selling 806 shares during the period. MGO One Seven LLC’s holdings in The Cigna Group were worth $718,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Garden State Investment Advisory Services LLC bought a new position in shares of The Cigna Group in the 3rd quarter worth approximately $444,000. Advisory Resource Group raised its position in shares of The Cigna Group by 2.0% during the third quarter. Advisory Resource Group now owns 13,163 shares of the health services provider’s stock valued at $4,560,000 after buying an additional 263 shares during the last quarter. Virtu Financial LLC raised its position in shares of The Cigna Group by 39.6% during the 3rd quarter. Virtu Financial LLC now owns 17,173 shares of the health services provider’s stock valued at $5,949,000 after buying an additional 4,870 shares in the last quarter. Te Ahumairangi Investment Management Ltd lifted its holdings in shares of The Cigna Group by 7.9% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 20,330 shares of the health services provider’s stock worth $7,003,000 after acquiring an additional 1,490 shares during the last quarter. Finally, Pine Valley Investments Ltd Liability Co boosted its holdings in The Cigna Group by 28.3% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 15,713 shares of the health services provider’s stock valued at $5,444,000 after acquiring an additional 3,466 shares during the period. 86.99% of the stock is currently owned by institutional investors.

The Cigna Group Stock Performance

NYSE CI opened at $335.60 on Friday. The stock has a market cap of $91.85 billion, a P/E ratio of 27.42, a PEG ratio of 0.98 and a beta of 0.51. The company’s 50-day simple moving average is $319.82 and its 200 day simple moving average is $310.44. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. 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 (NYSE:CI) last released its earnings results on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing analysts’ consensus estimates 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 quarter last year, the business posted $6.79 EPS. As a group, research analysts forecast that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be paid a dividend of $1.51 per share. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.80%. The Cigna Group’s dividend payout ratio is 49.35%.

Insider Buying and Selling at The Cigna Group

In other news, insider Nicole S. Jones sold 4,904 shares of The Cigna Group stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the sale, the insider now directly owns 29,421 shares of the company’s stock, valued at approximately $9,065,198.52. This trade represents a 14.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Elder Granger sold 2,376 shares of the business’s stock in a transaction that occurred on 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 owns 5,471 shares in the company, valued at $1,697,924.85. This trade represents a 30.28 % decrease in their position. 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.

Wall Street Analyst Weigh In

CI has been the subject of a number of analyst reports. Piper Sandler reissued an “overweight” rating and set a $348.00 target price (down previously from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Cantor Fitzgerald increased their price target on The Cigna Group from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Thursday, March 20th. Guggenheim assumed coverage on shares of The Cigna Group in a research report on Wednesday, April 9th. They set a “buy” rating and a $384.00 price objective for the company. Mizuho raised their target price on shares of The Cigna Group from $360.00 to $384.00 and gave the company an “outperform” rating in a report on Wednesday, April 9th. Finally, Barclays reduced their price target on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. 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 stock. According to data from MarketBeat.com, The Cigna Group has a consensus rating of “Buy” and a consensus target price of $373.56.

The Cigna Group Company 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.