The Cigna Group (NYSE:CI) Shares Purchased by Snowden Capital Advisors LLC

Snowden Capital Advisors LLC increased its position in shares of The Cigna Group (NYSE:CI) by 5.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,229 shares of the health services provider’s stock after acquiring an additional 226 shares during the period. Snowden Capital Advisors LLC’s holdings in The Cigna Group were worth $1,168,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Deroy & Devereaux Private Investment Counsel Inc. grew its holdings in The Cigna Group by 1.1% during the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider’s stock worth $20,942,000 after acquiring an additional 858 shares during the period. Valley Wealth Managers Inc. grew its holdings in The Cigna Group by 2.8% during the fourth quarter. Valley Wealth Managers Inc. now owns 56,933 shares of the health services provider’s stock worth $15,721,000 after acquiring an additional 1,548 shares during the period. Humankind Investments LLC increased its stake in The Cigna Group by 12.1% in the 4th quarter. Humankind Investments LLC now owns 5,294 shares of the health services provider’s stock worth $1,462,000 after purchasing an additional 571 shares in the last quarter. KBC Group NV increased its stake in The Cigna Group by 1.5% in the 4th quarter. KBC Group NV now owns 550,638 shares of the health services provider’s stock worth $152,053,000 after purchasing an additional 8,077 shares in the last quarter. Finally, Kingsview Wealth Management LLC increased its stake in The Cigna Group by 11.0% in the 4th quarter. Kingsview Wealth Management LLC now owns 35,056 shares of the health services provider’s stock worth $9,680,000 after purchasing an additional 3,484 shares in the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity at The Cigna Group

In related news, CEO David Cordani sold 26,527 shares of the firm’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 transaction of $8,173,499.24. Following the transaction, the chief executive officer now owns 127,767 shares of the company’s stock, valued at approximately $39,367,568.04. This trade represents a 17.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Elder Granger sold 2,376 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $310.35, for a total transaction of $737,391.60. Following the transaction, the director now directly owns 5,471 shares in the company, valued at approximately $1,697,924.85. The trade was a 30.28% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,751 shares of company stock valued at $13,603,991. 0.70% of the stock is currently owned by corporate insiders.

The Cigna Group Price Performance

NYSE CI opened at $320.68 on Monday. The company has a 50 day simple moving average of $325.00 and a 200-day simple moving average of $309.88. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72. The firm has a market capitalization of $85.67 billion, a price-to-earnings ratio of 26.20, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 earnings per share for the quarter, beating the consensus estimate of $6.35 by $0.39. The firm had revenue of $65.45 billion for the quarter, compared to analyst estimates of $60.39 billion. The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. The company’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same quarter last year, the firm earned $6.47 earnings per share. Equities research analysts predict 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. Investors of record on Tuesday, June 3rd will be given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Tuesday, June 3rd. The Cigna Group’s payout ratio is presently 33.44%.

Wall Street Analysts Forecast Growth

CI has been the topic of a number of analyst reports. Piper Sandler lifted their price target on The Cigna Group from $348.00 to $374.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Raymond James reissued a “strong-buy” rating and issued a $360.00 price target (down previously from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Sanford C. Bernstein cut The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price target on the stock. in a research note on Thursday, February 6th. Stephens dropped their price target on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Finally, Cowen reissued a “buy” rating on shares of The Cigna Group in a research note on Monday, May 5th. Two research 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. According to data from MarketBeat, The Cigna Group presently has an average rating of “Buy” and an average target price of $379.33.

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.