The Cigna Group (NYSE:CI) Shares Acquired by Quadrant Capital Group LLC

Quadrant Capital Group LLC boosted its position in shares of The Cigna Group (NYSE:CI) by 3.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,514 shares of the health services provider’s stock after buying an additional 89 shares during the period. Quadrant Capital Group LLC’s holdings in The Cigna Group were worth $753,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Seizert Capital Partners LLC increased its position in shares of The Cigna Group by 195.8% in the fourth quarter. Seizert Capital Partners LLC now owns 32,150 shares of the health services provider’s stock worth $9,627,000 after acquiring an additional 21,280 shares in the last quarter. Roman Butler Fullerton & Co. raised its stake in The Cigna Group by 61.4% during the 4th quarter. Roman Butler Fullerton & Co. now owns 9,307 shares of the health services provider’s stock valued at $2,772,000 after purchasing an additional 3,539 shares during the period. Ellsworth Advisors LLC purchased a new stake in shares of The Cigna Group in the fourth quarter valued at $4,377,000. Sapient Capital LLC purchased a new stake in shares of The Cigna Group in the fourth quarter valued at $2,811,000. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of The Cigna Group by 29.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 293,438 shares of the health services provider’s stock worth $87,870,000 after buying an additional 66,891 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Stock Down 0.6 %

NYSE:CI traded down $2.14 during trading hours on Friday, reaching $337.12. The company’s stock had a trading volume of 1,042,968 shares, compared to its average volume of 1,594,385. The Cigna Group has a one year low of $240.50 and a one year high of $365.71. The business’s 50-day moving average is $352.25 and its 200-day moving average is $322.07. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.71 and a quick ratio of 0.71. The company has a market cap of $95.77 billion, a price-to-earnings ratio of 27.85, a price-to-earnings-growth ratio of 1.05 and a beta of 0.57.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.17 by $0.30. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The company had revenue of $57.25 billion during the quarter, compared to the consensus estimate of $56.59 billion. During the same quarter in the prior year, the company posted $5.41 EPS. The firm’s revenue was up 23.2% on a year-over-year basis. Equities research analysts predict that The Cigna Group will post 28.47 EPS for the current year.

The Cigna Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Tuesday, June 4th will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend is Tuesday, June 4th. The Cigna Group’s dividend payout ratio is currently 45.98%.

Analyst Ratings Changes

Several brokerages recently issued reports on CI. Barclays assumed coverage on The Cigna Group in a research note on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 price objective for the company. Cantor Fitzgerald raised their price target on shares of The Cigna Group from $384.00 to $400.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Oppenheimer boosted their price objective on shares of The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 14th. Finally, Royal Bank of Canada upgraded shares of The Cigna Group from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $327.00 to $354.00 in a report on Monday, February 5th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, The Cigna Group currently has an average rating of “Buy” and a consensus target price of $366.14.

Insider Activity at The Cigna Group

In other news, CEO David Cordani sold 31,209 shares of The Cigna Group stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $355.17, for a total value of $11,084,500.53. Following the transaction, the chief executive officer now directly owns 348,054 shares in the company, valued at $123,618,339.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $348.71, for a total value of $2,073,429.66. Following the sale, the senior vice president now owns 2,595 shares of the company’s stock, valued at approximately $904,902.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David Cordani sold 31,209 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $355.17, for a total transaction of $11,084,500.53. Following the completion of the sale, the chief executive officer now directly owns 348,054 shares in the company, valued at approximately $123,618,339.18. The disclosure for this sale can be found here. In the last three months, insiders have sold 78,685 shares of company stock worth $27,622,407. 0.60% of the stock is owned by 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.