Addison Advisors LLC Boosts Stock Position in The Cigna Group (NYSE:CI)

Addison Advisors LLC boosted its holdings in The Cigna Group (NYSE:CI) by 223.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 851 shares of the health services provider’s stock after buying an additional 588 shares during the quarter. Addison Advisors LLC’s holdings in The Cigna Group were worth $255,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in CI. Parnassus Investments LLC purchased a new position in shares of The Cigna Group during the third quarter worth about $731,041,000. FMR LLC grew its holdings in shares of The Cigna Group by 13.8% during the third quarter. FMR LLC now owns 15,967,363 shares of the health services provider’s stock worth $4,567,783,000 after purchasing an additional 1,939,554 shares during the last quarter. Cerity Partners LLC grew its holdings in shares of The Cigna Group by 1,039.4% during the fourth quarter. Cerity Partners LLC now owns 590,063 shares of the health services provider’s stock worth $176,694,000 after purchasing an additional 538,274 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of The Cigna Group by 3.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 11,833,753 shares of the health services provider’s stock worth $3,385,282,000 after purchasing an additional 345,605 shares during the last quarter. Finally, Jennison Associates LLC grew its holdings in shares of The Cigna Group by 127.3% during the fourth quarter. Jennison Associates LLC now owns 566,233 shares of the health services provider’s stock worth $169,558,000 after purchasing an additional 317,081 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Performance

NYSE:CI traded down $0.04 during mid-day trading on Friday, reaching $354.47. The stock had a trading volume of 830,527 shares, compared to its average volume of 1,260,787. The Cigna Group has a twelve month low of $240.50 and a twelve month high of $365.71. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.67 and a current ratio of 0.67. The firm has a market capitalization of $103.63 billion, a price-to-earnings ratio of 20.38, a PEG ratio of 1.09 and a beta of 0.56. The business has a 50 day simple moving average of $349.88 and a 200 day simple moving average of $317.80.

The Cigna Group (NYSE:CI) last issued its earnings results on Friday, February 2nd. The health services provider reported $6.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.54 by $0.25. The Cigna Group had a net margin of 2.64% and a return on equity of 13.59%. The company had revenue of $51.15 billion during the quarter, compared to analysts’ expectations of $48.91 billion. During the same period last year, the company posted $4.96 earnings per share. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. On average, analysts expect that The Cigna Group will post 28.36 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th will be issued a $1.40 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.58%. The Cigna Group’s dividend payout ratio (DPR) is presently 32.20%.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total value of $1,608,446.16. Following the completion of the transaction, the senior vice president now directly owns 2,102 shares of the company’s stock, valued at $694,668.96. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the completion of the transaction, the senior vice president now directly owns 2,102 shares of the company’s stock, valued at approximately $694,668.96. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO David Cordani sold 31,209 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $355.17, for a total transaction of $11,084,500.53. Following the transaction, the chief executive officer now directly owns 348,054 shares of the company’s stock, valued at $123,618,339.18. The disclosure for this sale can be found here. Over the last three months, insiders sold 114,144 shares of company stock valued at $39,296,330. Corporate insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

CI has been the topic of several research reports. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 14th. Barclays assumed coverage on shares of The Cigna Group in a research note on Wednesday, March 6th. They set an “overweight” rating and a $393.00 target price for the company. Mizuho increased their target price on shares of The Cigna Group from $360.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, February 5th. Wells Fargo & Company increased their target price on shares of The Cigna Group from $334.00 to $348.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 6th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $384.00 target price on shares of The Cigna Group in a research note on Wednesday, April 10th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, The Cigna Group has a consensus rating of “Buy” and an average target price of $362.14.

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.