Two Sigma Investments LP Boosts Stake in The Cigna Group (NYSE:CI)

Two Sigma Investments LP boosted its position in shares of The Cigna Group (NYSE:CI) by 32.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 764,900 shares of the health services provider’s stock after buying an additional 188,235 shares during the period. Two Sigma Investments LP’s holdings in The Cigna Group were worth $211,219,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CI. TCTC Holdings LLC bought a new stake in shares of The Cigna Group in the 4th quarter valued at approximately $25,000. Collier Financial purchased a new stake in The Cigna Group during the 4th quarter valued at $32,000. Compagnie Lombard Odier SCmA bought a new stake in The Cigna Group in the fourth quarter worth $37,000. Transce3nd LLC purchased a new position in The Cigna Group during the fourth quarter worth $38,000. Finally, Heck Capital Advisors LLC bought a new position in The Cigna Group during the fourth quarter valued at $53,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, insider Noelle K. Eder sold 9,944 shares of The Cigna Group stock in a transaction on Friday, March 7th. The shares were sold at an average price of $320.00, for a total value of $3,182,080.00. Following the transaction, the insider now directly owns 13,406 shares of the company’s stock, valued at approximately $4,289,920. The trade was a 42.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicole S. Jones sold 4,904 shares of the stock in a transaction 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 sale, the insider now owns 29,421 shares of the company’s stock, valued at approximately $9,065,198.52. This represents a 14.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,751 shares of company stock worth $13,603,991 over the last quarter. Insiders own 0.70% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Barclays raised their target price on shares of The Cigna Group from $339.00 to $382.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 8th. Wells Fargo & Company dropped their target price on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Cantor Fitzgerald increased their price target on The Cigna Group from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Thursday, March 20th. Finally, Robert W. Baird decreased their price target on The Cigna Group from $388.00 to $362.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. Two equities 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 stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $379.33.

The Cigna Group Trading Up 3.8%

NYSE CI opened at $320.68 on Monday. The Cigna Group has a one year low of $262.03 and a one year high of $370.83. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The company 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 company’s 50-day simple moving average is $325.00 and its two-hundred day simple moving average is $309.88.

The Cigna Group (NYSE:CI) last posted its earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share for the quarter, topping analysts’ consensus estimates of $6.35 by $0.39. The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. The company had revenue of $65.45 billion during the quarter, compared to analyst estimates of $60.39 billion. During the same quarter in the prior year, the business earned $6.47 earnings per share. The Cigna Group’s revenue was up 14.4% on a year-over-year basis. Equities analysts forecast that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The business 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 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date is Tuesday, June 3rd. The Cigna Group’s payout ratio is currently 33.44%.

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.