Merit Financial Group LLC boosted its stake in shares of The Cigna Group (NYSE:CI – Get Rating) by 11.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,439 shares of the health services provider’s stock after purchasing an additional 251 shares during the period. Merit Financial Group LLC’s holdings in The Cigna Group were worth $808,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CI. Pacifica Partners Inc. boosted its holdings in The Cigna Group by 95.2% in the 4th quarter. Pacifica Partners Inc. now owns 82 shares of the health services provider’s stock worth $27,000 after buying an additional 40 shares during the last quarter. Hexagon Capital Partners LLC boosted its holdings in The Cigna Group by 178.4% in the 3rd quarter. Hexagon Capital Partners LLC now owns 103 shares of the health services provider’s stock worth $29,000 after buying an additional 66 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its holdings in The Cigna Group by 32.3% in the 3rd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 401 shares of the health services provider’s stock worth $31,000 after buying an additional 98 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC acquired a new stake in The Cigna Group in the 3rd quarter worth about $34,000. Finally, Pittenger & Anderson Inc. boosted its holdings in The Cigna Group by 40.0% in the 3rd quarter. Pittenger & Anderson Inc. now owns 140 shares of the health services provider’s stock worth $39,000 after buying an additional 40 shares during the last quarter. 87.61% of the stock is owned by institutional investors and hedge funds.
The Cigna Group Stock Down 5.1 %
The Cigna Group stock opened at $256.58 on Friday. The Cigna Group has a fifty-two week low of $238.50 and a fifty-two week high of $340.11. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a 50 day moving average price of $293.47 and a 200 day moving average price of $303.95. The company has a market capitalization of $76.22 billion, a PE ratio of 12.00, a price-to-earnings-growth ratio of 0.97 and a beta of 0.67.
The Cigna Group Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 23rd. Shareholders of record on Wednesday, March 8th were paid a $1.23 dividend. This is an increase from The Cigna Group’s previous quarterly dividend of $1.12. The ex-dividend date was Tuesday, March 7th. This represents a $4.92 annualized dividend and a dividend yield of 1.92%. The Cigna Group’s payout ratio is 23.01%.
Analysts Set New Price Targets
Several research firms recently issued reports on CI. SVB Securities lowered their price objective on The Cigna Group from $335.00 to $309.00 in a report on Wednesday, February 8th. Morgan Stanley lifted their price objective on The Cigna Group from $347.00 to $365.00 and gave the stock an “overweight” rating in a report on Friday, January 6th. StockNews.com lowered shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Wells Fargo & Company lowered shares of The Cigna Group from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $370.00 to $355.00 in a research note on Tuesday, January 3rd. Finally, Loop Capital decreased their target price on shares of The Cigna Group from $350.00 to $320.00 in a research note on Monday, February 6th. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, The Cigna Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $339.00.
Insiders Place Their Bets
In other The Cigna Group news, insider Michael W. Triplett sold 1,731 shares of the business’s stock in a transaction on Friday, March 10th. The shares were sold at an average price of $271.67, for a total value of $470,260.77. Following the completion of the transaction, the insider now owns 30,235 shares in the company, valued at $8,213,942.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Cynthia Ryan sold 803 shares of the business’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $294.06, for a total transaction of $236,130.18. Following the completion of the transaction, the executive vice president now owns 6,503 shares in the company, valued at $1,912,272.18. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Michael W. Triplett sold 1,731 shares of the business’s stock in a transaction on Friday, March 10th. The stock was sold at an average price of $271.67, for a total transaction of $470,260.77. Following the transaction, the insider now owns 30,235 shares of the company’s stock, valued at approximately $8,213,942.45. The disclosure for this sale can be found here. Insiders sold a total of 27,752 shares of company stock worth $8,008,479 over the last 90 days. Corporate insiders own 0.80% of the company’s stock.
The Cigna Group Company Profile
The Cigna Group is engaged in the provision of global health services. It operates through the following segments: Evernorth, U.S. Medical, International Markets, and Group Disability and Other. The Evernorth segment includes a broad range of coordinated and point solution health services, including pharmacy solutions, benefits management solutions, care solutions and intelligence solutions.
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