1,092 Shares in The Cigna Group (NYSE:CI) Acquired by Woodmont Investment Counsel LLC

Woodmont Investment Counsel LLC purchased a new position in shares of The Cigna Group (NYSE:CI) during the first quarter, Holdings Channel reports. The firm purchased 1,092 shares of the health services provider’s stock, valued at approximately $397,000.

A number of other hedge funds have also recently added to or reduced their stakes in CI. Norges Bank purchased a new position in The Cigna Group during the 4th quarter worth approximately $1,006,348,000. Cerity Partners LLC lifted its position in The Cigna Group by 1,039.4% during the 4th quarter. Cerity Partners LLC now owns 590,063 shares of the health services provider’s stock worth $176,694,000 after acquiring an additional 538,274 shares during the period. Jennison Associates LLC lifted its position in The Cigna Group by 127.3% during the 4th quarter. Jennison Associates LLC now owns 566,233 shares of the health services provider’s stock worth $169,558,000 after acquiring an additional 317,081 shares during the period. International Assets Investment Management LLC lifted its position in The Cigna Group by 21,324.4% during the 4th quarter. International Assets Investment Management LLC now owns 285,801 shares of the health services provider’s stock worth $85,583,000 after acquiring an additional 284,467 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in The Cigna Group by 153.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 386,226 shares of the health services provider’s stock worth $115,655,000 after acquiring an additional 233,945 shares during the period. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Analysts Set New Price Targets

CI has been the subject of a number of recent research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a research report on Wednesday, June 12th. JPMorgan Chase & Co. increased their price objective on The Cigna Group from $432.00 to $435.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. StockNews.com cut The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 12th. Piper Sandler initiated coverage on The Cigna Group in a report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 price target for the company. Finally, Robert W. Baird initiated coverage on The Cigna Group in a report on Thursday, May 30th. They issued an “outperform” rating and a $388.00 price target for the company. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $376.20.

Insider Transactions at The Cigna Group

In other news, insider Brian C. Evanko sold 4,795 shares of the business’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $345.01, for a total value of $1,654,322.95. Following the completion of the transaction, the insider now directly owns 39,923 shares of the company’s stock, valued at $13,773,834.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Brian C. Evanko sold 4,795 shares of the business’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $345.01, for a total value of $1,654,322.95. Following the completion of the transaction, the insider now directly owns 39,923 shares of the company’s stock, valued at $13,773,834.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Noelle K. Eder sold 10,700 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $348.47, for a total value of $3,728,629.00. Following the completion of the transaction, the insider now directly owns 15,824 shares of the company’s stock, valued at $5,514,189.28. The disclosure for this sale can be found here. Insiders sold a total of 22,988 shares of company stock valued at $7,975,726 over the last three months. 0.70% of the stock is currently owned by insiders.

The Cigna Group Stock Down 0.1 %

CI opened at $325.91 on Wednesday. The business’s fifty day moving average is $340.69 and its two-hundred day moving average is $333.60. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.71 and a current ratio of 0.71. The company has a market cap of $92.58 billion, a price-to-earnings ratio of 26.76, a PEG ratio of 1.01 and a beta of 0.52. The Cigna Group has a one year low of $253.95 and a one year high of $365.71.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, topping analysts’ consensus estimates of $6.17 by $0.30. The company had revenue of $57.25 billion for the quarter, compared to the consensus estimate of $56.59 billion. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The Cigna Group’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period in the previous year, the business earned $5.41 earnings per share. Analysts anticipate that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th were issued a $1.40 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.72%. The Cigna Group’s dividend payout ratio (DPR) is 45.98%.

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.