Quest Partners LLC Takes Position in The Cigna Group (NYSE:CI)

Quest Partners LLC purchased a new position in shares of The Cigna Group (NYSE:CIFree Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 176 shares of the health services provider’s stock, valued at approximately $53,000.

Other large investors have also bought and sold shares of the company. Norges Bank purchased a new stake in The Cigna Group in the 4th quarter worth approximately $1,006,348,000. Parnassus Investments LLC bought a new stake in The Cigna Group in the third quarter valued at $731,041,000. FMR LLC increased its position in The Cigna Group by 13.8% during the 3rd quarter. FMR LLC now owns 15,967,363 shares of the health services provider’s stock valued at $4,567,783,000 after purchasing an additional 1,939,554 shares during the period. Cerity Partners LLC raised its holdings in The Cigna Group by 1,039.4% in the 4th quarter. Cerity Partners LLC now owns 590,063 shares of the health services provider’s stock worth $176,694,000 after purchasing an additional 538,274 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of The Cigna Group by 3.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,833,753 shares of the health services provider’s stock worth $3,385,282,000 after purchasing an additional 345,605 shares during the period. 86.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on CI. Robert W. Baird began coverage on shares of The Cigna Group in a research report on Thursday. They set an “outperform” rating and a $388.00 price target on the stock. Royal Bank of Canada upgraded The Cigna Group from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $327.00 to $354.00 in a research note on Monday, February 5th. Oppenheimer upped their price target on The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Wells Fargo & Company raised their price objective on The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. Finally, Mizuho upped their target price on shares of The Cigna Group from $360.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $373.87.

Check Out Our Latest Research Report on The Cigna Group

The Cigna Group Stock Performance

CI stock opened at $331.00 on Friday. The stock’s 50 day simple moving average is $349.34 and its 200 day simple moving average is $324.24. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.75. The Cigna Group has a 12-month low of $240.50 and a 12-month high of $365.71. The stock has a market capitalization of $94.03 billion, a PE ratio of 27.18, a price-to-earnings-growth ratio of 1.02 and a beta of 0.57.

The Cigna Group (NYSE:CIGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, beating the consensus estimate of $6.17 by $0.30. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The company had revenue of $57.25 billion for the quarter, compared to analysts’ expectations of $56.59 billion. During the same period last year, the firm posted $5.41 earnings per share. The Cigna Group’s revenue was up 23.2% compared to the same quarter last year. As a group, research analysts forecast that The Cigna Group will post 28.46 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 issued a dividend of $1.40 per share. The ex-dividend date is Tuesday, June 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.69%. The Cigna Group’s payout ratio is 45.98%.

Insider Activity at The Cigna Group

In other news, CEO David Cordani sold 13,761 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $347.33, for a total value of $4,779,608.13. Following the transaction, the chief executive officer now directly owns 340,438 shares in the company, valued at approximately $118,244,330.54. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $348.71, for a total value of $2,073,429.66. Following the transaction, the senior vice president now directly owns 2,595 shares in the company, valued at $904,902.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David Cordani sold 13,761 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $347.33, for a total transaction of $4,779,608.13. Following the sale, the chief executive officer now directly owns 340,438 shares of the company’s stock, valued at approximately $118,244,330.54. The disclosure for this sale can be found here. Insiders have sold a total of 70,366 shares of company stock worth $24,750,755 over the last quarter. Company insiders own 0.60% of the company’s stock.

About The Cigna Group

(Free Report)

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.

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Institutional Ownership by Quarter for The Cigna Group (NYSE:CI)

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