The Cigna Group (NYSE:CI) Position Increased by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL grew its position in The Cigna Group (NYSE:CI) by 0.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,726 shares of the health services provider’s stock after buying an additional 74 shares during the quarter. Gamco Investors INC. ET AL’s holdings in The Cigna Group were worth $4,343,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. TCTC Holdings LLC purchased a new position in The Cigna Group during the 4th quarter worth approximately $25,000. Collier Financial purchased a new position in shares of The Cigna Group during the fourth quarter valued at $32,000. ORG Wealth Partners LLC purchased a new position in shares of The Cigna Group during the fourth quarter valued at $34,000. Compagnie Lombard Odier SCmA acquired a new position in The Cigna Group during the fourth quarter valued at $37,000. Finally, Heck Capital Advisors LLC acquired a new stake in The Cigna Group during the 4th quarter worth about $53,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Price Performance

The Cigna Group stock opened at $329.97 on Friday. The company has a market capitalization of $90.30 billion, a price-to-earnings ratio of 26.96, a PEG ratio of 0.98 and a beta of 0.51. The stock’s 50 day moving average is $315.18 and its 200-day moving average is $311.07. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same quarter in the prior year, the company posted $6.79 earnings per share. Equities research analysts expect that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were issued a dividend of $1.51 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a dividend yield of 1.83%. The Cigna Group’s payout ratio is 49.35%.

Insider Buying and Selling

In other The Cigna Group news, insider Nicole S. Jones sold 4,904 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $1,511,020.48. Following the completion of the transaction, the insider now directly owns 29,421 shares in the company, valued at approximately $9,065,198.52. This represents a 14.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Elder Granger sold 2,376 shares of the stock in a transaction on Friday, March 14th. The shares were sold at an average price of $310.35, for a total value of $737,391.60. Following the completion of the sale, the director now owns 5,471 shares of the company’s stock, valued at $1,697,924.85. The trade was a 30.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,751 shares of company stock worth $13,603,991 in the last three months. 0.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CI has been the subject of a number of research analyst reports. Raymond James reissued a “strong-buy” rating and issued a $360.00 price target (down from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Morgan Stanley decreased their target price on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Cantor Fitzgerald upped their price target on shares of The Cigna Group from $350.00 to $365.00 and gave the stock an “overweight” rating in a research note on Thursday, March 20th. UBS Group reduced their price objective on The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Finally, Wells Fargo & Company dropped their target price on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $373.56.

About The Cigna Group

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.