Triglav Skladi D.O.O. Takes $8.16 Million Position in The Cigna Group (NYSE:CI)

Triglav Skladi D.O.O. acquired a new stake in shares of The Cigna Group (NYSE:CI) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 29,537 shares of the health services provider’s stock, valued at approximately $8,156,000.

A number of other large investors have also recently made changes to their positions in the stock. Hennion & Walsh Asset Management Inc. boosted its holdings in The Cigna Group by 35.4% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 1,068 shares of the health services provider’s stock valued at $295,000 after purchasing an additional 279 shares during the last quarter. Merit Financial Group LLC boosted its holdings in The Cigna Group by 15.7% in the fourth quarter. Merit Financial Group LLC now owns 2,333 shares of the health services provider’s stock valued at $644,000 after purchasing an additional 316 shares during the last quarter. Arkadios Wealth Advisors boosted its holdings in The Cigna Group by 3.8% in the fourth quarter. Arkadios Wealth Advisors now owns 4,031 shares of the health services provider’s stock valued at $1,113,000 after purchasing an additional 149 shares during the last quarter. Premier Path Wealth Partners LLC boosted its holdings in The Cigna Group by 32.7% in the fourth quarter. Premier Path Wealth Partners LLC now owns 2,200 shares of the health services provider’s stock valued at $608,000 after purchasing an additional 542 shares during the last quarter. Finally, Aaron Wealth Advisors LLC boosted its holdings in The Cigna Group by 16.5% in the fourth quarter. Aaron Wealth Advisors LLC now owns 1,397 shares of the health services provider’s stock valued at $386,000 after purchasing an additional 198 shares during the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 8th. Mizuho upped their price target on shares of The Cigna Group from $360.00 to $384.00 and gave the company an “outperform” rating in a report on Wednesday, April 9th. Barclays upped their price target on shares of The Cigna Group from $339.00 to $382.00 and gave the company an “overweight” rating in a report on Monday, May 5th. Wells Fargo & Company decreased their price objective on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Finally, Royal Bank of Canada set a $355.00 price objective on shares of The Cigna Group in a research report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, The Cigna Group currently has a consensus rating of “Buy” and an average price target of $379.33.

The Cigna Group Stock Up 3.8%

CI opened at $320.68 on Monday. 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 $325.00 and a 200 day moving average price of $309.88. The company has a market cap of $85.67 billion, a PE ratio of 26.20, 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 results on Friday, May 2nd. The health services provider reported $6.74 earnings per share for the quarter, topping the consensus estimate of $6.35 by $0.39. The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. The firm had revenue of $65.45 billion during the quarter, compared to the consensus estimate of $60.39 billion. During the same quarter in the prior year, the firm earned $6.47 EPS. The company’s revenue for the quarter was up 14.4% on a year-over-year basis. Sell-side analysts expect that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

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 of this dividend is Tuesday, June 3rd. This represents a $6.04 dividend on an annualized basis and a yield of 1.88%. The Cigna Group’s payout ratio is 33.44%.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, 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 value of $3,182,080.00. Following the completion of the sale, the insider now owns 13,406 shares in the company, valued at approximately $4,289,920. This represents a 42.59% 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, 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 transaction of $8,173,499.24. Following the completion of the sale, the chief executive officer now owns 127,767 shares of the company’s stock, valued at approximately $39,367,568.04. The trade was a 17.19% 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 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.