2,000 Shares in The Cigna Group (NYSE:CI) Acquired by Shay Capital LLC

Shay Capital LLC purchased a new position in shares of The Cigna Group (NYSE:CI) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 2,000 shares of the health services provider’s stock, valued at approximately $552,000.

Several other hedge funds have also added to or reduced their stakes in CI. Sterling Financial Group Inc. bought a new position in The Cigna Group during the 4th quarter worth $4,367,000. Deroy & Devereaux Private Investment Counsel Inc. increased its stake in The Cigna Group by 1.1% during the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider’s stock worth $20,942,000 after acquiring an additional 858 shares during the period. Valley Wealth Managers Inc. increased its stake in The Cigna Group by 2.8% during the 4th quarter. Valley Wealth Managers Inc. now owns 56,933 shares of the health services provider’s stock worth $15,721,000 after acquiring an additional 1,548 shares during the period. Humankind Investments LLC increased its stake in The Cigna Group by 12.1% during the 4th quarter. Humankind Investments LLC now owns 5,294 shares of the health services provider’s stock worth $1,462,000 after acquiring an additional 571 shares during the period. Finally, KBC Group NV increased its stake in The Cigna Group by 1.5% during the 4th quarter. KBC Group NV now owns 550,638 shares of the health services provider’s stock worth $152,053,000 after acquiring an additional 8,077 shares during the period. 86.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on CI. Wells Fargo & Company lowered their price objective 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. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 8th. Oppenheimer lowered their price target on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a report on Friday, January 31st. Barclays boosted their price target on The Cigna Group from $339.00 to $382.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. Finally, Robert W. Baird lowered their price target on The Cigna Group from $388.00 to $362.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $379.33.

The Cigna Group Trading Up 3.8%

Shares of CI stock opened at $320.68 on Friday. The firm has a market capitalization of $85.67 billion, a P/E ratio of 26.20, a P/E/G ratio of 0.98 and a beta of 0.47. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. 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 stock’s fifty day simple moving average is $325.00 and its 200 day simple moving average is $309.94.

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

The Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.88%. The ex-dividend date is Tuesday, June 3rd. The Cigna Group’s payout ratio is presently 33.44%.

Insiders Place Their Bets

In other The Cigna Group news, insider Nicole S. Jones sold 4,904 shares of The Cigna Group stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the transaction, the insider now directly owns 29,421 shares of the company’s stock, valued at approximately $9,065,198.52. The trade was a 14.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David Cordani sold 26,527 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $8,173,499.24. Following the completion of the transaction, the chief executive officer now directly owns 127,767 shares in the company, valued at $39,367,568.04. This represents a 17.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In 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 company 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.