The Cigna Group (NYSE:CI) Shares Bought by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI boosted its holdings in shares of The Cigna Group (NYSE:CI) by 3.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,915 shares of the health services provider’s stock after buying an additional 241 shares during the period. Citizens Financial Group Inc. RI’s holdings in The Cigna Group were worth $2,370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Avestar Capital LLC increased its position in The Cigna Group by 0.8% during the 3rd quarter. Avestar Capital LLC now owns 4,585 shares of the health services provider’s stock valued at $1,312,000 after buying an additional 35 shares in the last quarter. Eads & Heald Wealth Management grew its stake in The Cigna Group by 1.7% during the 3rd quarter. Eads & Heald Wealth Management now owns 2,123 shares of the health services provider’s stock valued at $607,000 after purchasing an additional 35 shares during the last quarter. Relyea Zuckerberg Hanson LLC grew its stake in The Cigna Group by 3.2% during the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 1,113 shares of the health services provider’s stock valued at $333,000 after purchasing an additional 35 shares during the last quarter. Strategic Blueprint LLC grew its stake in The Cigna Group by 4.8% during the 3rd quarter. Strategic Blueprint LLC now owns 784 shares of the health services provider’s stock valued at $224,000 after purchasing an additional 36 shares during the last quarter. Finally, E&G Advisors LP grew its stake in The Cigna Group by 1.8% during the 3rd quarter. E&G Advisors LP now owns 2,137 shares of the health services provider’s stock valued at $611,000 after purchasing an additional 37 shares during the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO David Cordani sold 38,065 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $335.22, for a total value of $12,760,149.30. Following the completion of the transaction, the chief executive officer now directly owns 329,321 shares in the company, valued at $110,394,985.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO David Cordani sold 38,065 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $335.22, for a total transaction of $12,760,149.30. Following the completion of the transaction, the chief executive officer now directly owns 329,321 shares in the company, valued at $110,394,985.62. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Eric P. Palmer sold 1,017 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $335.26, for a total value of $340,959.42. Following the transaction, the insider now owns 45,564 shares of the company’s stock, valued at $15,275,786.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 114,144 shares of company stock worth $39,296,330. Company insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CI shares. Deutsche Bank Aktiengesellschaft upgraded The Cigna Group from a “hold” rating to a “buy” rating and boosted their price target for the company from $355.00 to $370.00 in a research note on Thursday, February 1st. Cantor Fitzgerald reiterated an “overweight” rating and set a $384.00 price target on shares of The Cigna Group in a research note on Wednesday, April 10th. Barclays assumed coverage on The Cigna Group in a research note on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 target price on the stock. Morgan Stanley restated an “overweight” rating and issued a $392.00 target price (up previously from $382.00) on shares of The Cigna Group in a research note on Monday, March 4th. Finally, StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 14th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, The Cigna Group presently has an average rating of “Buy” and a consensus price target of $362.14.

The Cigna Group Price Performance

Shares of NYSE:CI traded down $0.04 during midday trading on Friday, hitting $354.47. The company 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 current ratio of 0.67 and a quick ratio of 0.67. The stock has a market cap of $103.63 billion, a price-to-earnings ratio of 20.38, a price-to-earnings-growth ratio of 1.09 and a beta of 0.56. The business’s 50-day simple moving average is $349.88 and its 200-day simple moving average is $317.80.

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

The Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Tuesday, June 4th will be given a $1.40 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $5.60 annualized dividend and a yield of 1.58%. The Cigna Group’s payout ratio is 32.20%.

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.