Los Angeles Capital Management LLC raised its stake in Cigna Group (NYSE:CI – Free Report) by 479.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 358,656 shares of the health services provider’s stock after buying an additional 296,758 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Cigna Group were worth $98,713,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently added to or reduced their stakes in CI. Beacon Financial Strategies CORP acquired a new position in Cigna Group in the fourth quarter valued at about $28,000. Lodestone Wealth Management LLC acquired a new position in Cigna Group in the fourth quarter valued at about $32,000. Collier Financial acquired a new position in Cigna Group in the third quarter valued at about $34,000. Creative Financial Designs Inc. ADV lifted its stake in Cigna Group by 147.3% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 136 shares of the health services provider’s stock valued at $37,000 after buying an additional 81 shares during the period. Finally, Activest Wealth Management lifted its stake in Cigna Group by 1,050.0% in the fourth quarter. Activest Wealth Management now owns 138 shares of the health services provider’s stock valued at $38,000 after buying an additional 126 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.
Cigna Group Trading Up 3.4%
NYSE CI opened at $290.17 on Friday. The firm has a market cap of $76.76 billion, a P/E ratio of 12.30, a P/E/G ratio of 1.12 and a beta of 0.28. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.73 and a quick ratio of 0.73. The stock’s 50-day moving average is $279.58 and its 200-day moving average is $277.24. Cigna Group has a one year low of $239.51 and a one year high of $338.89.
Cigna Group Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, June 4th will be given a dividend of $1.56 per share. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $6.24 dividend on an annualized basis and a dividend yield of 2.2%. Cigna Group’s dividend payout ratio (DPR) is currently 26.45%.
Analyst Upgrades and Downgrades
CI has been the topic of several analyst reports. UBS Group increased their target price on Cigna Group from $375.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, May 22nd. Sanford C. Bernstein increased their target price on Cigna Group from $358.00 to $371.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. Truist Financial increased their target price on Cigna Group from $320.00 to $350.00 and gave the company a “buy” rating in a research note on Tuesday, February 17th. Raymond James Financial set a $340.00 price target on Cigna Group in a research report on Friday, May 1st. Finally, Royal Bank Of Canada raised their price target on Cigna Group from $333.00 to $337.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Cigna Group currently has an average rating of “Moderate Buy” and an average target price of $338.30.
View Our Latest Stock Analysis on CI
Insider Activity
In related news, CEO David Cordani sold 201,878 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $292.82, for a total transaction of $59,113,915.96. Following the completion of the transaction, the chief executive officer directly owned 34,337 shares in the company, valued at approximately $10,054,560.34. This trade represents a 85.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.60% of the company’s stock.
Cigna Group Company Profile
Cigna Group (NYSE: CI) is a global health services company that offers a broad portfolio of healthcare products and insurance solutions for individuals, employers, and governments. Its core businesses include medical and behavioral health plans, dental and vision coverage, pharmacy benefit management, and supplemental health products. Cigna serves a mix of commercial, Medicare, and Medicaid customers and provides workplace benefits such as group health plans and disability and life benefits for employers.
In addition to traditional insurance products, Cigna operates health services and care-delivery platforms designed to manage costs and improve outcomes.
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