Norden Group LLC Acquires 35,754 Shares of The Cigna Group (NYSE:CI)

Norden Group LLC increased its holdings in shares of The Cigna Group (NYSE:CI) by 1,856.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 37,680 shares of the health services provider’s stock after acquiring an additional 35,754 shares during the period. Norden Group LLC’s holdings in The Cigna Group were worth $13,686,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Axxcess Wealth Management LLC purchased a new position in shares of The Cigna Group during the third quarter valued at $359,000. Alps Advisors Inc. bought a new position in shares of The Cigna Group in the 3rd quarter worth $3,869,000. Evergreen Capital Management LLC lifted its stake in shares of The Cigna Group by 3.0% during the 3rd quarter. Evergreen Capital Management LLC now owns 3,601 shares of the health services provider’s stock worth $1,030,000 after purchasing an additional 105 shares during the last quarter. Ellerson Group Inc. ADV bought a new stake in The Cigna Group during the third quarter valued at about $114,000. Finally, KPP Advisory Services LLC bought a new position in The Cigna Group in the third quarter worth about $274,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Insider Buying and Selling

In other The Cigna Group news, insider Brian C. Evanko sold 4,795 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $345.01, for a total value of $1,654,322.95. Following the transaction, the insider now directly owns 39,923 shares of the company’s stock, valued at approximately $13,773,834.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other The Cigna Group news, insider Brian C. Evanko sold 4,795 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $345.01, for a total value of $1,654,322.95. Following the transaction, the insider now directly owns 39,923 shares in the company, valued at approximately $13,773,834.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of The Cigna Group stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $348.71, for a total transaction of $2,073,429.66. Following the sale, the senior vice president now owns 2,595 shares of the company’s stock, valued at $904,902.45. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,988 shares of company stock worth $7,975,726. 0.70% of the stock is owned by insiders.

The Cigna Group Trading Down 0.3 %

Shares of NYSE:CI opened at $325.07 on Thursday. The company has a market capitalization of $92.34 billion, a PE ratio of 26.69, a PEG ratio of 0.99 and a beta of 0.52. The Cigna Group has a 12-month low of $253.95 and a 12-month high of $365.71. The business has a 50 day moving average of $340.15 and a two-hundred day moving average of $333.85. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.75.

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

The Cigna Group Announces Dividend

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

Analyst Ratings Changes

A number of research firms have recently weighed in on CI. Baird R W upgraded shares of The Cigna Group to a “strong-buy” rating in a report on Thursday, May 30th. Barclays began coverage on The Cigna Group in a research report on Wednesday, March 6th. They set an “overweight” rating and a $393.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a report on Wednesday, June 12th. Oppenheimer upped their price objective on shares of The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Finally, StockNews.com lowered shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 12th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $376.20.

The Cigna Group Company 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.