8,658 Shares in The Cigna Group (NYSE:CI) Bought by Stevens Capital Management LP

Stevens Capital Management LP bought a new position in shares of The Cigna Group (NYSE:CI) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 8,658 shares of the health services provider’s stock, valued at approximately $2,593,000. The Cigna Group comprises approximately 0.6% of Stevens Capital Management LP’s investment portfolio, making the stock its 28th largest holding.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Parnassus Investments LLC acquired a new stake in The Cigna Group during the 3rd quarter worth about $731,041,000. FMR LLC increased its holdings in The Cigna Group by 13.8% in the third quarter. FMR LLC now owns 15,967,363 shares of the health services provider’s stock worth $4,567,783,000 after purchasing an additional 1,939,554 shares in the last quarter. Cerity Partners LLC lifted its stake in The Cigna Group by 1,039.4% in the fourth quarter. Cerity Partners LLC now owns 590,063 shares of the health services provider’s stock valued at $176,694,000 after buying an additional 538,274 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of The Cigna Group by 3.0% during 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 buying an additional 345,605 shares in the last quarter. Finally, Jennison Associates LLC grew its position in shares of The Cigna Group by 127.3% during the 4th quarter. Jennison Associates LLC now owns 566,233 shares of the health services provider’s stock worth $169,558,000 after buying an additional 317,081 shares during the period. 86.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other The Cigna Group news, CEO David Cordani sold 38,065 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $335.22, for a total value of $12,760,149.30. Following the transaction, the chief executive officer now directly owns 329,321 shares in the company, valued at $110,394,985.62. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO David Cordani sold 38,065 shares of The Cigna Group stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $335.22, for a total value of $12,760,149.30. Following the sale, the chief executive officer now owns 329,321 shares of the company’s stock, valued at approximately $110,394,985.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eric P. Palmer sold 6,083 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $340.00, for a total value of $2,068,220.00. Following the transaction, the insider now directly owns 44,649 shares of the company’s stock, valued at $15,180,660. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 114,144 shares of company stock worth $39,296,330. Insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on CI. Morgan Stanley reissued an “overweight” rating and set a $392.00 target price (up from $382.00) on shares of The Cigna Group in a research note on Monday, March 4th. Oppenheimer reaffirmed an “outperform” rating and issued a $360.00 target price on shares of The Cigna Group in a research report on Wednesday, January 17th. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 14th. Barclays assumed coverage on The Cigna Group in a research note on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 price objective for the company. Finally, Royal Bank of Canada raised The Cigna Group from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $327.00 to $354.00 in a research report on Monday, February 5th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $362.14.

The Cigna Group Stock Down 0.0 %

Shares of CI stock traded down $0.04 on Friday, hitting $354.47. The stock had a trading volume of 803,927 shares, compared to its average volume of 1,570,482. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.67. The business has a 50 day moving average of $349.61 and a 200 day moving average of $317.35. The Cigna Group has a 12-month low of $240.50 and a 12-month high of $365.71. The stock has a market cap of $103.63 billion, a price-to-earnings ratio of 20.39, a price-to-earnings-growth ratio of 1.08 and a beta of 0.56.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Friday, February 2nd. The health services provider reported $6.79 EPS for the quarter, beating the consensus estimate of $6.54 by $0.25. The Cigna Group had a net margin of 2.64% and a return on equity of 13.59%. The firm had revenue of $51.15 billion during the quarter, compared to analyst estimates of $48.91 billion. During the same quarter last year, the business posted $4.96 EPS. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. As a group, analysts expect that The Cigna Group will post 28.36 EPS for the current year.

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Tuesday, June 4th will be given a dividend of $1.40 per share. The ex-dividend date is Tuesday, June 4th. This represents a $5.60 annualized dividend and a yield of 1.58%. The Cigna Group’s payout ratio is currently 32.20%.

The Cigna Group Company 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.