Searle & CO. Takes Position in The Cigna Group (NYSE:CI)

Searle & CO. acquired a new position in shares of The Cigna Group (NYSE:CI) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,112 shares of the health services provider’s stock, valued at approximately $333,000.

Other large investors have also recently bought and sold shares of the company. Eads & Heald Wealth Management boosted its stake in The Cigna Group by 1.7% during the 3rd quarter. Eads & Heald Wealth Management now owns 2,123 shares of the health services provider’s stock valued at $607,000 after acquiring an additional 35 shares during the last quarter. Relyea Zuckerberg Hanson LLC increased its holdings in The Cigna Group by 3.2% in the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 1,113 shares of the health services provider’s stock valued at $333,000 after buying an additional 35 shares during the last quarter. E&G Advisors LP lifted its holdings in The Cigna Group by 1.8% during the 3rd quarter. E&G Advisors LP now owns 2,137 shares of the health services provider’s stock worth $611,000 after buying an additional 37 shares during the last quarter. Sequoia Financial Advisors LLC raised its position in shares of The Cigna Group by 1.4% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,822 shares of the health services provider’s stock valued at $807,000 after acquiring an additional 39 shares in the last quarter. Finally, Breakwater Capital Group lifted its position in shares of The Cigna Group by 3.5% in the 4th quarter. Breakwater Capital Group now owns 1,144 shares of the health services provider’s stock worth $349,000 after buying an additional 39 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CI. Sanford C. Bernstein raised shares of The Cigna Group from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $330.00 to $372.00 in a report on Thursday, January 4th. Wells Fargo & Company raised their price target on The Cigna Group from $334.00 to $348.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $384.00 target price on shares of The Cigna Group in a research note on Wednesday, April 10th. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 14th. Finally, Deutsche Bank Aktiengesellschaft raised The Cigna Group from a “hold” rating to a “buy” rating and lifted their price target for the company from $355.00 to $370.00 in a report on Thursday, February 1st. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $362.14.

Insider Transactions at The Cigna Group

In related news, CEO David Cordani sold 31,209 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $355.17, for a total value of $11,084,500.53. Following the completion of the transaction, the chief executive officer now owns 348,054 shares of the company’s stock, valued at approximately $123,618,339.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Eric P. Palmer sold 1,017 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $335.26, for a total value of $340,959.42. Following the completion of the sale, the insider now directly owns 45,564 shares of the company’s stock, valued at $15,275,786.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Cordani sold 31,209 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $355.17, for a total transaction of $11,084,500.53. Following the completion of the transaction, the chief executive officer now owns 348,054 shares in the company, valued at approximately $123,618,339.18. The disclosure for this sale can be found here. Insiders have sold a total of 114,144 shares of company stock valued at $39,296,330 over the last ninety days. Corporate insiders own 0.70% of the company’s stock.

The Cigna Group Price Performance

Shares of The Cigna Group stock traded up $0.14 during trading on Wednesday, hitting $357.18. The stock had a trading volume of 1,848,145 shares, compared to its average volume of 1,564,811. The business has a fifty day moving average of $350.50 and a two-hundred day moving average of $318.94. The firm has a market cap of $104.43 billion, a P/E ratio of 20.54, a PEG ratio of 1.09 and a beta of 0.56. The Cigna Group has a fifty-two week low of $240.50 and a fifty-two week high of $365.71. 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 Cigna Group (NYSE:CI) last announced its quarterly earnings data on Friday, February 2nd. The health services provider reported $6.79 earnings per share (EPS) for the quarter, topping 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 company had revenue of $51.15 billion for the quarter, compared to analysts’ expectations of $48.91 billion. During the same quarter in the previous year, the company posted $4.96 EPS. The business’s revenue was up 11.8% compared to the same quarter last year. On average, sell-side analysts expect that The Cigna Group will post 28.36 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Tuesday, June 4th. The Cigna Group’s payout ratio is 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.