The Cigna Group (NYSE:CI) Shares Bought by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc lifted its stake in shares of The Cigna Group (NYSE:CI) by 17.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 400,921 shares of the health services provider’s stock after acquiring an additional 59,587 shares during the period. Ensign Peak Advisors Inc’s holdings in The Cigna Group were worth $110,710,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Kesler Norman & Wride LLC lifted its position in shares of The Cigna Group by 1.8% during the 4th quarter. Kesler Norman & Wride LLC now owns 2,033 shares of the health services provider’s stock worth $562,000 after purchasing an additional 35 shares during the last quarter. Hudson Edge Investment Partners Inc. increased its position in The Cigna Group by 1.9% during the fourth quarter. Hudson Edge Investment Partners Inc. now owns 1,883 shares of the health services provider’s stock worth $520,000 after acquiring an additional 36 shares during the period. Meridian Wealth Management LLC increased its holdings in shares of The Cigna Group by 1.0% during the 4th quarter. Meridian Wealth Management LLC now owns 3,670 shares of the health services provider’s stock worth $1,013,000 after purchasing an additional 37 shares during the period. Mindset Wealth Management LLC grew its position in The Cigna Group by 2.6% during the fourth quarter. Mindset Wealth Management LLC now owns 1,469 shares of the health services provider’s stock worth $406,000 after buying an additional 37 shares in the last quarter. Finally, Jacobi Capital Management LLC increased its stake in The Cigna Group by 2.2% during the fourth quarter. Jacobi Capital Management LLC now owns 1,749 shares of the health services provider’s stock valued at $483,000 after acquiring an additional 38 shares during the period. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CI shares. Mizuho lifted their price objective on The Cigna Group from $360.00 to $384.00 and gave the stock an “outperform” rating in a report on Wednesday, April 9th. Royal Bank of Canada set a $355.00 price target on shares of The Cigna Group in a research note on Friday, January 31st. Sanford C. Bernstein cut shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective for the company. in a research note on Thursday, February 6th. Oppenheimer decreased their target price on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a research report on Friday, January 31st. Finally, Morgan Stanley increased their price target on shares of The Cigna Group from $379.00 to $390.00 and gave the stock an “overweight” rating in a research report on Monday. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, The Cigna Group presently has an average rating of “Buy” and a consensus target price of $378.22.

Insider Activity at The Cigna Group

In other news, insider Nicole S. Jones sold 4,904 shares of the 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 transaction, the insider now owns 29,421 shares of the company’s stock, valued at $9,065,198.52. This represents a 14.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Elder Granger sold 2,376 shares of the firm’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $310.35, for a total value of $737,391.60. Following the transaction, the director now owns 5,471 shares in the company, valued at approximately $1,697,924.85. This trade represents a 30.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,751 shares of company stock worth $13,603,991 over the last 90 days. Insiders own 0.70% of the company’s stock.

The Cigna Group Stock Down 0.3 %

Shares of NYSE:CI opened at $333.34 on Friday. 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 firm has a market cap of $89.05 billion, a P/E ratio of 27.23, a P/E/G ratio of 0.98 and a beta of 0.47. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The company’s 50-day moving average price is $325.34 and its two-hundred day moving average price is $310.01.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, beating the consensus estimate of $6.35 by $0.39. The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. The business had revenue of $65.45 billion for the quarter, compared to analysts’ expectations of $60.39 billion. During the same period in the prior year, the firm earned $6.47 earnings per share. The Cigna Group’s revenue was up 14.4% compared to the same quarter last year. As a group, research analysts forecast that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The company also recently declared 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. This represents a $6.04 annualized dividend and a dividend yield of 1.81%. The ex-dividend date is Tuesday, June 3rd. The Cigna Group’s dividend payout ratio (DPR) is presently 33.44%.

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.