Callan Family Office LLC Makes New $2.60 Million Investment in The Cigna Group (NYSE:CI)

Callan Family Office LLC bought a new position in The Cigna Group (NYSE:CI) in the fourth quarter, HoldingsChannel reports. The fund bought 9,412 shares of the health services provider’s stock, valued at approximately $2,599,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. E Fund Management Co. Ltd. increased its stake in shares of The Cigna Group by 98.6% in the fourth quarter. E Fund Management Co. Ltd. now owns 1,791 shares of the health services provider’s stock valued at $495,000 after buying an additional 889 shares during the period. Candriam S.C.A. increased its stake in shares of The Cigna Group by 210.5% in the fourth quarter. Candriam S.C.A. now owns 76,881 shares of the health services provider’s stock valued at $21,230,000 after buying an additional 52,119 shares during the period. One Capital Management LLC increased its stake in shares of The Cigna Group by 0.8% in the fourth quarter. One Capital Management LLC now owns 39,339 shares of the health services provider’s stock valued at $10,863,000 after buying an additional 324 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of The Cigna Group in the fourth quarter valued at about $313,911,000. Finally, Dana Investment Advisors Inc. increased its stake in shares of The Cigna Group by 4.6% in the fourth quarter. Dana Investment Advisors Inc. now owns 27,474 shares of the health services provider’s stock valued at $7,587,000 after buying an additional 1,203 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on CI. Truist Financial decreased their price target 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. Royal Bank of Canada set a $355.00 target price on The Cigna Group in a research note on Friday, January 31st. Cantor Fitzgerald decreased their target price on The Cigna Group from $400.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Barclays decreased their target price 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. Finally, Morgan Stanley decreased their target price on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Two research 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 stock. Based on data from MarketBeat, The Cigna Group presently has a consensus rating of “Buy” and a consensus price target of $372.31.

The Cigna Group Trading Up 1.9 %

Shares of The Cigna Group stock opened at $321.48 on Friday. 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 has a 52 week low of $262.03 and a 52 week high of $370.83. The stock has a 50 day moving average price of $292.84 and a two-hundred day moving average price of $317.89. The stock has a market capitalization of $89.42 billion, a PE ratio of 26.26, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54.

The Cigna Group (NYSE:CI) last posted its earnings results 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 prior year, the business posted $6.79 earnings per share. As a group, equities analysts anticipate 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 will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be issued a dividend of $1.51 per share. 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 1.88%. The ex-dividend date of this dividend is Wednesday, March 5th. The Cigna Group’s dividend payout ratio (DPR) is 49.35%.

Insider Buying and Selling

In related news, insider Nicole S. Jones sold 4,904 shares of The Cigna Group stock in a transaction on 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 in the company, 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 legal filing with the SEC, which can be accessed through this link. Also, CEO David Cordani sold 26,527 shares of The Cigna Group stock in a transaction on 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 sale, the chief executive officer now owns 127,767 shares in the company, valued at $39,367,568.04. This trade represents a 17.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by corporate insiders.

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.