The Cigna Group (NYSE:CI) Shares Bought by Alhambra Investment Management LLC

Alhambra Investment Management LLC raised its holdings in The Cigna Group (NYSE:CI) by 2.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,782 shares of the health services provider’s stock after acquiring an additional 57 shares during the period. Alhambra Investment Management LLC’s holdings in The Cigna Group were worth $915,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CI. Moody National Bank Trust Division boosted its holdings in shares of The Cigna Group by 0.7% in the first quarter. Moody National Bank Trust Division now owns 4,587 shares of the health services provider’s stock valued at $1,509,000 after acquiring an additional 34 shares in the last quarter. Kesler Norman & Wride LLC boosted its holdings in The Cigna Group by 1.8% during the fourth quarter. Kesler Norman & Wride LLC now owns 2,033 shares of the health services provider’s stock worth $562,000 after buying an additional 35 shares in the last quarter. Wynn Capital LLC boosted its holdings in The Cigna Group by 1.0% during the first quarter. Wynn Capital LLC now owns 3,451 shares of the health services provider’s stock worth $1,135,000 after buying an additional 35 shares in the last quarter. Hudson Edge Investment Partners Inc. boosted its holdings 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 buying an additional 36 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC boosted its holdings in The Cigna Group by 2.3% during the first quarter. Fifth Third Wealth Advisors LLC now owns 1,626 shares of the health services provider’s stock worth $535,000 after buying an additional 36 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Insider Buying and Selling

In related news, Director Elder Granger sold 2,376 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $310.35, for a total transaction of $737,391.60. Following the completion of the transaction, the director now owns 5,471 shares of the company’s stock, valued at approximately $1,697,924.85. This represents a 30.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.70% of the stock is currently owned by company insiders.

The Cigna Group Stock Performance

NYSE:CI opened at $313.83 on Wednesday. The firm has a 50 day simple moving average of $322.47 and a 200-day simple moving average of $308.81. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72. The firm has a market cap of $83.84 billion, a PE ratio of 25.64, a P/E/G ratio of 0.98 and a beta of 0.44. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83.

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

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.92%. The ex-dividend date is Tuesday, June 3rd. The Cigna Group’s dividend payout ratio (DPR) is 33.44%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CI. Morgan Stanley boosted their price objective on shares of The Cigna Group from $379.00 to $390.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. Guggenheim reissued a “buy” rating and set a $388.00 price objective on shares of The Cigna Group in a report on Friday, May 23rd. Piper Sandler boosted their price objective on shares of The Cigna Group from $348.00 to $374.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. Robert W. Baird decreased their price objective on shares of The Cigna Group from $388.00 to $362.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. Finally, Cowen reissued a “buy” rating on shares of The Cigna Group in a report on Monday, May 5th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $380.39.

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.