North Star Investment Management Corp. lifted its stake in The Cigna Group (NYSE:CI – Free Report) by 306.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 378 shares of the health services provider’s stock after acquiring an additional 285 shares during the period. North Star Investment Management Corp.’s holdings in The Cigna Group were worth $97,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Moneta Group Investment Advisors LLC grew its holdings in The Cigna Group by 154,255.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 11,954,841 shares of the health services provider’s stock valued at $3,961,117,000 after buying an additional 11,947,096 shares in the last quarter. Norges Bank bought a new position in shares of The Cigna Group in the fourth quarter valued at approximately $963,542,000. Edmp Inc. grew its stake in The Cigna Group by 32,426.5% during the fourth quarter. Edmp Inc. now owns 1,606,807 shares of the health services provider’s stock valued at $4,849,000 after acquiring an additional 1,601,867 shares in the last quarter. Nordea Investment Management AB increased its holdings in The Cigna Group by 18.9% during the 1st quarter. Nordea Investment Management AB now owns 2,490,969 shares of the health services provider’s stock worth $635,446,000 after acquiring an additional 396,176 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in The Cigna Group by 9.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,108,166 shares of the health services provider’s stock valued at $862,423,000 after purchasing an additional 268,793 shares during the period. 85.63% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at The Cigna Group
In other The Cigna Group news, Director Donna F. Zarcone sold 757 shares of the stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $253.29, for a total value of $191,740.53. Following the completion of the sale, the director now owns 25,558 shares in the company, valued at approximately $6,473,585.82. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Donna F. Zarcone sold 757 shares of the company’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $253.29, for a total transaction of $191,740.53. Following the completion of the transaction, the director now owns 25,558 shares in the company, valued at $6,473,585.82. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Everett Neville sold 466 shares of The Cigna Group stock in a transaction on Monday, July 10th. The shares were sold at an average price of $277.61, for a total transaction of $129,366.26. Following the completion of the sale, the executive vice president now owns 4,937 shares in the company, valued at approximately $1,370,560.57. The disclosure for this sale can be found here. 0.60% of the stock is owned by company insiders.
Analysts Set New Price Targets
The Cigna Group Stock Performance
Shares of CI stock opened at $282.76 on Monday. The company has a market capitalization of $83.66 billion, a P/E ratio of 12.89, a PEG ratio of 0.98 and a beta of 0.65. The Cigna Group has a fifty-two week low of $240.50 and a fifty-two week high of $340.11. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a 50 day moving average price of $265.51 and a two-hundred day moving average price of $277.30.
The Cigna Group (NYSE:CI – Get Free Report) last issued its earnings results on Friday, May 5th. The health services provider reported $5.41 EPS for the quarter, topping the consensus estimate of $5.23 by $0.18. The company had revenue of $46.52 billion for the quarter, compared to the consensus estimate of $45.43 billion. The Cigna Group had a net margin of 3.69% and a return on equity of 12.65%. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm earned $6.01 earnings per share. Analysts expect that The Cigna Group will post 24.81 earnings per share for the current year.
The Cigna Group Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 22nd. Investors of record on Wednesday, June 7th were paid a $1.23 dividend. The ex-dividend date of this dividend was Tuesday, June 6th. This represents a $4.92 annualized dividend and a dividend yield of 1.74%. The Cigna Group’s payout ratio is presently 22.42%.
The Cigna Group 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.
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