Vise Technologies Inc. Increases Position in The Cigna Group (NYSE:CI)

Vise Technologies Inc. increased its stake in shares of The Cigna Group (NYSE:CI) by 66.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 4,019 shares of the health services provider’s stock after buying an additional 1,603 shares during the quarter. Vise Technologies Inc.’s holdings in The Cigna Group were worth $1,110,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. City National Bank of Florida MSD acquired a new position in The Cigna Group during the fourth quarter valued at $208,000. JT Stratford LLC lifted its position in The Cigna Group by 117.4% during the fourth quarter. JT Stratford LLC now owns 12,596 shares of the health services provider’s stock valued at $3,478,000 after purchasing an additional 6,801 shares during the period. Highview Capital Management LLC DE acquired a new position in The Cigna Group during the fourth quarter valued at $287,000. McIlrath & Eck LLC lifted its position in The Cigna Group by 268.9% during the fourth quarter. McIlrath & Eck LLC now owns 487 shares of the health services provider’s stock valued at $134,000 after purchasing an additional 355 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in The Cigna Group by 12.9% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 53,530 shares of the health services provider’s stock valued at $14,782,000 after purchasing an additional 6,127 shares during the period. 86.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, CEO David Cordani sold 26,527 shares of the 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 sale, the chief executive officer now owns 127,767 shares in the company, valued at approximately $39,367,568.04. This represents a 17.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Noelle K. Eder sold 9,944 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the completion of the sale, the insider now owns 13,406 shares of the company’s stock, valued at approximately $4,289,920. The trade was a 42.59% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,751 shares of company stock worth $13,603,991. Insiders own 0.70% of the company’s stock.

The Cigna Group Stock Up 1.2%

CI opened at $316.36 on Friday. 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 company has a 50-day moving average price of $325.35 and a 200 day moving average price of $310.02. The company has a market cap of $84.51 billion, a PE ratio of 25.85, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47.

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

The Cigna Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be issued a $1.51 dividend. The ex-dividend date is Tuesday, June 3rd. This represents a $6.04 dividend on an annualized basis and a yield of 1.91%. The Cigna Group’s payout ratio is 33.44%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CI. Royal Bank of Canada set a $355.00 price objective on shares of The Cigna Group in a research report on Friday, January 31st. Truist Financial upped their price objective on shares of The Cigna Group from $385.00 to $405.00 and gave the stock a “buy” rating in a research report on Monday, May 12th. Oppenheimer decreased their price objective on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a research report on Friday, January 31st. Wall Street Zen upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 8th. Finally, Robert W. Baird decreased their price objective on shares of The Cigna Group from $388.00 to $362.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $379.33.

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.