Cairn Investment Group Inc. Invests $4.15 Million in The Cigna Group (NYSE:CI)

Cairn Investment Group Inc. bought a new position in shares of The Cigna Group (NYSE:CIFree Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 13,848 shares of the health services provider’s stock, valued at approximately $4,147,000. The Cigna Group comprises 2.6% of Cairn Investment Group Inc.’s holdings, making the stock its 12th biggest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC purchased a new stake in The Cigna Group during the 4th quarter valued at about $29,000. VisionPoint Advisory Group LLC grew its stake in The Cigna Group by 112.2% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock valued at $30,000 after purchasing an additional 55 shares during the last quarter. Pacifica Partners Inc. grew its stake in The Cigna Group by 73.2% during the 4th quarter. Pacifica Partners Inc. now owns 142 shares of the health services provider’s stock valued at $43,000 after purchasing an additional 60 shares during the last quarter. MeadowBrook Investment Advisors LLC purchased a new stake in The Cigna Group during the 4th quarter valued at about $43,000. Finally, Northwest Financial Advisors purchased a new stake in The Cigna Group during the 4th quarter valued at about $49,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

The Cigna Group Price Performance

NYSE CI traded up $0.19 during trading hours on Friday, reaching $338.10. The company’s stock had a trading volume of 1,208,098 shares, compared to its average volume of 1,800,601. The firm has a market capitalization of $96.04 billion, a price-to-earnings ratio of 27.76, a P/E/G ratio of 1.03 and a beta of 0.53. The Cigna Group has a 1-year low of $253.95 and a 1-year high of $365.71. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.71 and a quick ratio of 0.71. The company’s 50-day moving average is $346.91 and its two-hundred day moving average is $326.72.

The Cigna Group (NYSE:CIGet Free Report) last announced its earnings results on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, beating analysts’ consensus estimates of $6.17 by $0.30. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The business had revenue of $57.25 billion during the quarter, compared to analysts’ expectations of $56.59 billion. During the same quarter in the prior year, the firm earned $5.41 earnings per share. The business’s revenue was up 23.2% compared to the same quarter last year. On average, equities analysts predict that The Cigna Group will post 28.47 EPS for the current year.

The Cigna Group Dividend Announcement

The company 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 dividend of $1.40 per share. The ex-dividend date is Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.66%. The Cigna Group’s payout ratio is currently 45.98%.

Wall Street Analyst Weigh In

Several analysts have weighed in on CI shares. JPMorgan Chase & Co. boosted their price target on The Cigna Group from $432.00 to $435.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Baird R W upgraded The Cigna Group to a “strong-buy” rating in a research note on Thursday, May 30th. 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. StockNews.com downgraded The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 3rd. Finally, Barclays began 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. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, The Cigna Group currently has a consensus rating of “Buy” and an average target price of $373.87.

Check Out Our Latest Analysis on The Cigna Group

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, CEO David Cordani sold 13,761 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $347.33, for a total transaction of $4,779,608.13. Following the completion of the transaction, the chief executive officer now owns 340,438 shares of the company’s stock, valued at $118,244,330.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $348.71, for a total value of $2,073,429.66. Following the completion of the sale, the senior vice president now directly owns 2,595 shares in the company, valued at $904,902.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Cordani sold 13,761 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $347.33, for a total value of $4,779,608.13. Following the completion of the sale, the chief executive officer now owns 340,438 shares of the company’s stock, valued at $118,244,330.54. The disclosure for this sale can be found here. Insiders sold 67,954 shares of company stock valued at $23,916,855 over the last quarter. 0.60% of the stock is currently owned by insiders.

The Cigna Group Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for The Cigna Group (NYSE:CI)

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