1,590 Shares in The Cigna Group (NYSE:CI) Purchased by Stevens Capital Management LP

Stevens Capital Management LP bought a new position in The Cigna Group (NYSE:CI) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,590 shares of the health services provider’s stock, valued at approximately $439,000.

A number of other hedge funds also recently made changes to their positions in the company. LPL Financial LLC lifted its position in shares of The Cigna Group by 15.7% in the fourth quarter. LPL Financial LLC now owns 181,438 shares of the health services provider’s stock worth $50,102,000 after buying an additional 24,578 shares in the last quarter. Samalin Investment Counsel LLC raised its position in The Cigna Group by 2.8% during the fourth quarter. Samalin Investment Counsel LLC now owns 1,753 shares of the health services provider’s stock valued at $484,000 after purchasing an additional 47 shares during the period. English Capital Management LLC raised its position in The Cigna Group by 6.2% during the fourth quarter. English Capital Management LLC now owns 20,586 shares of the health services provider’s stock valued at $5,685,000 after purchasing an additional 1,202 shares during the period. Focused Investors LLC raised its position in The Cigna Group by 8.8% during the fourth quarter. Focused Investors LLC now owns 587,450 shares of the health services provider’s stock valued at $162,218,000 after purchasing an additional 47,550 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new stake in The Cigna Group during the fourth quarter valued at approximately $51,589,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

The Cigna Group Stock Down 1.4 %

Shares of NYSE:CI opened at $316.78 on Monday. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The stock has a market cap of $86.70 billion, a P/E ratio of 25.88, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53. The business’s 50 day moving average is $300.83 and its 200 day moving average is $314.69. 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 announced 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 in the prior year, the firm posted $6.79 earnings per share. Sell-side analysts predict that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.91%. The ex-dividend date 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 49.35%.

Analysts Set New Price Targets

A number of brokerages have issued reports on CI. Barclays decreased their price objective on 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. Truist Financial decreased their price objective on The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. Sanford C. Bernstein downgraded The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective on the stock. in a research report on Thursday, February 6th. Stephens decreased their price objective on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Finally, Wells Fargo & Company cut their target price 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 research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $373.25.

Insider Buying and Selling at The Cigna Group

In other news, insider Nicole S. Jones sold 4,904 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $1,511,020.48. Following the completion of the sale, the insider now owns 29,421 shares of the company’s stock, valued at $9,065,198.52. This trade represents a 14.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David Cordani sold 26,527 shares of the firm’s 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 completion of the sale, the chief executive officer now directly owns 127,767 shares of the company’s stock, valued at $39,367,568.04. The trade was a 17.19 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,751 shares of company stock valued at $13,603,991. 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.