Syon Capital LLC Boosts Position in The Cigna Group (NYSE:CI)

Syon Capital LLC increased its holdings in shares of The Cigna Group (NYSE:CI) by 33.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,500 shares of the health services provider’s stock after purchasing an additional 875 shares during the quarter. Syon Capital LLC’s holdings in The Cigna Group were worth $1,048,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Tokio Marine Asset Management Co. Ltd. lifted its stake in The Cigna Group by 8.6% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,726 shares of the health services provider’s stock valued at $2,014,000 after buying an additional 534 shares during the last quarter. Wynn Capital LLC purchased a new stake in The Cigna Group in the fourth quarter valued at approximately $994,000. Watershed Asset Management L.L.C. lifted its stake in The Cigna Group by 8.9% in the fourth quarter. Watershed Asset Management L.L.C. now owns 967 shares of the health services provider’s stock valued at $290,000 after buying an additional 79 shares during the last quarter. Harvest Fund Management Co. Ltd lifted its stake in The Cigna Group by 36.7% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 391 shares of the health services provider’s stock valued at $117,000 after buying an additional 105 shares during the last quarter. Finally, Cumberland Partners Ltd lifted its stake in The Cigna Group by 23.1% in the fourth quarter. Cumberland Partners Ltd now owns 2,660 shares of the health services provider’s stock valued at $794,000 after buying an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Insider Activity

In other news, insider Eric P. Palmer sold 1,017 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $335.26, for a total value of $340,959.42. Following the completion of the sale, the insider now owns 45,564 shares in the company, valued at $15,275,786.64. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other The Cigna Group news, insider Eric P. Palmer sold 1,017 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $335.26, for a total transaction of $340,959.42. Following the completion of the sale, the insider now owns 45,564 shares in the company, valued at approximately $15,275,786.64. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO David Cordani sold 38,065 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $335.22, for a total value of $12,760,149.30. Following the sale, the chief executive officer now owns 329,321 shares of the company’s stock, valued at approximately $110,394,985.62. The disclosure for this sale can be found here. Insiders have sold 114,144 shares of company stock worth $39,296,330 over the last three months. 0.60% of the stock is currently owned by corporate insiders.

The Cigna Group Price Performance

The Cigna Group stock traded up $2.23 during trading hours on Thursday, hitting $354.51. The stock had a trading volume of 783,602 shares, compared to its average volume of 1,578,333. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market capitalization of $103.64 billion, a price-to-earnings ratio of 20.26, a PEG ratio of 1.08 and a beta of 0.56. The Cigna Group has a 1-year low of $240.50 and a 1-year high of $365.71. The stock’s fifty day moving average is $349.31 and its two-hundred day moving average is $317.09.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Friday, February 2nd. The health services provider reported $6.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.54 by $0.25. The Cigna Group had a return on equity of 13.59% and a net margin of 2.64%. The business had revenue of $51.15 billion for the quarter, compared to the consensus estimate of $48.91 billion. During the same period in the prior year, the business earned $4.96 earnings per share. The business’s revenue was up 11.8% on a year-over-year basis. As a group, analysts predict that The Cigna Group will post 28.36 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.58%. The Cigna Group’s dividend payout ratio is currently 32.20%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Wells Fargo & Company boosted their price objective on The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 6th. Oppenheimer restated an “outperform” rating and set a $360.00 price target on shares of The Cigna Group in a research note on Wednesday, January 17th. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 14th. Sanford C. Bernstein upgraded The Cigna Group from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $330.00 to $372.00 in a research note on Thursday, January 4th. Finally, Deutsche Bank Aktiengesellschaft upgraded The Cigna Group from a “hold” rating to a “buy” rating and upped their price target for the stock from $355.00 to $370.00 in a research note on Thursday, February 1st. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $362.14.

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.