Colrain Capital LLC Makes New $2.28 Million Investment in The Cigna Group (NYSE:CI)

Colrain Capital LLC purchased a new stake in shares of The Cigna Group (NYSE:CI) in the 4th quarter, Holdings Channel reports. The fund purchased 8,250 shares of the health services provider’s stock, valued at approximately $2,278,000. The Cigna Group comprises approximately 2.2% of Colrain Capital LLC’s holdings, making the stock its 19th biggest position.

Several other institutional investors and hedge funds also recently made changes to their positions in CI. Summit Financial LLC raised its stake in shares of The Cigna Group by 36.9% in the fourth quarter. Summit Financial LLC now owns 2,104 shares of the health services provider’s stock worth $581,000 after purchasing an additional 567 shares during the last quarter. Wellington Management Group LLP increased its holdings in The Cigna Group by 11.1% in the 4th quarter. Wellington Management Group LLP now owns 16,869 shares of the health services provider’s stock worth $4,658,000 after buying an additional 1,689 shares in the last quarter. Physician Wealth Advisors Inc. purchased a new position in The Cigna Group in the 4th quarter worth about $730,000. RWA Wealth Partners LLC lifted its stake in The Cigna Group by 2.2% during the 4th quarter. RWA Wealth Partners LLC now owns 3,127 shares of the health services provider’s stock valued at $863,000 after acquiring an additional 67 shares during the period. Finally, Allianz SE bought a new position in The Cigna Group during the 4th quarter valued at about $6,902,000. Institutional investors own 86.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CI. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Saturday. Stephens lowered their target price on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Oppenheimer cut their price target on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a research note on Friday, January 31st. UBS Group lowered their price objective on shares of 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. Finally, Morgan Stanley cut their target price on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $373.25.

The Cigna Group Stock Performance

NYSE:CI opened at $324.97 on Monday. The stock has a 50-day moving average price of $304.67 and a 200 day moving average price of $313.47. The stock has a market capitalization of $88.94 billion, a P/E ratio of 26.55, a P/E/G ratio of 0.98 and a beta of 0.53. The Cigna Group has a 12-month low of $262.03 and a 12-month 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 data on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) 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 quarter in the previous year, the business earned $6.79 EPS. Equities research analysts forecast that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 1.86%. The ex-dividend date was Wednesday, March 5th. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio is 49.35%.

Insider Transactions at The Cigna Group

In other news, CEO David Cordani sold 26,527 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the sale, the chief executive officer now directly owns 127,767 shares of the company’s stock, 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 at the SEC website. Also, Director Elder Granger sold 2,376 shares of the firm’s stock in a transaction on 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 directly owns 5,471 shares of the company’s stock, valued at approximately $1,697,924.85. This trade represents a 30.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,751 shares of company stock valued at $13,603,991. 0.70% of the stock is currently owned by insiders.

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.