Main Street Research LLC Raises Position in The Cigna Group (NYSE:CI)

Main Street Research LLC grew its stake in The Cigna Group (NYSE:CI) by 10.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 785 shares of the health services provider’s stock after purchasing an additional 73 shares during the quarter. Main Street Research LLC’s holdings in The Cigna Group were worth $217,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CI. Prospera Private Wealth LLC purchased a new position in The Cigna Group during the 3rd quarter worth $37,000. Collier Financial bought a new position in shares of The Cigna Group during the fourth quarter valued at about $32,000. ORG Wealth Partners LLC purchased a new position in The Cigna Group during the fourth quarter worth about $34,000. Compagnie Lombard Odier SCmA bought a new stake in The Cigna Group in the 4th quarter worth about $37,000. Finally, Heck Capital Advisors LLC purchased a new stake in The Cigna Group in the 4th quarter valued at about $53,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

CI has been the topic of a number of research analyst reports. UBS Group cut their target price on The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Piper Sandler reissued an “overweight” rating and issued a $348.00 price objective (down previously from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Truist Financial reduced their price objective on The Cigna Group from $390.00 to $375.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. Barclays lowered their target price on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Finally, Royal Bank of Canada set a $355.00 price target on shares of The Cigna Group in a research report on Friday, January 31st. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, The Cigna Group currently has a consensus rating of “Buy” and a consensus price target of $372.31.

The Cigna Group Stock Up 1.9 %

The Cigna Group stock opened at $321.48 on Monday. The firm has a market capitalization of $87.98 billion, a price-to-earnings ratio of 26.26, a P/E/G ratio of 0.98 and a beta of 0.53. The firm has a 50 day simple moving average of $292.84 and a 200 day simple moving average of $317.54. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results 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 previous year, the firm earned $6.79 earnings per share. On average, analysts predict that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.88%. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date is Wednesday, March 5th. The Cigna Group’s dividend payout ratio is presently 49.35%.

Insider Activity

In other The Cigna Group news, CEO David Cordani sold 26,527 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $8,173,499.24. Following the transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 sale, the insider now 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 position. The disclosure for this sale can be found here. 0.60% of the stock is owned by company insiders.

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.