PKO Investment Management Joint Stock Co decreased its position in Cigna Group (NYSE:CI – Free Report) by 19.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,100 shares of the health services provider’s stock after selling 2,200 shares during the period. PKO Investment Management Joint Stock Co’s holdings in Cigna Group were worth $2,427,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Wilkerson Advisory Group LLC purchased a new stake in shares of Cigna Group in the 4th quarter worth $25,000. Beacon Financial Strategies CORP purchased a new position in shares of Cigna Group during the fourth quarter valued at $28,000. Kemnay Advisory Services Inc. bought a new stake in shares of Cigna Group in the fourth quarter valued at about $29,000. Prosperity Bancshares Inc bought a new stake in shares of Cigna Group in the fourth quarter valued at about $29,000. Finally, Lodestone Wealth Management LLC purchased a new stake in Cigna Group in the fourth quarter worth about $32,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.
Cigna Group Stock Performance
Shares of Cigna Group stock opened at $282.08 on Tuesday. The company has a market capitalization of $74.62 billion, a PE ratio of 11.96, a P/E/G ratio of 1.08 and a beta of 0.28. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.73 and a current ratio of 0.73. The company has a 50-day simple moving average of $283.86 and a two-hundred day simple moving average of $278.42. Cigna Group has a one year low of $239.51 and a one year high of $338.89.
Cigna Group Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, June 4th were given a dividend of $1.56 per share. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $6.24 dividend on an annualized basis and a yield of 2.2%. Cigna Group’s dividend payout ratio is presently 26.45%.
Insider Activity at Cigna Group
In other news, CEO David Cordani sold 201,878 shares of the stock in a transaction on 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 sale, the chief executive officer owned 34,337 shares in the company, valued at approximately $10,054,560.34. This represents a 85.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Jamie G. Kates sold 899 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $298.61, for a total value of $268,450.39. Following the completion of the sale, the chief accounting officer directly owned 2,368 shares of the company’s stock, valued at $707,108.48. The trade was a 27.52% decrease in their position. The SEC filing for this sale provides additional information. 0.60% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
Several research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft cut shares of Cigna Group from a “buy” rating to a “hold” rating and dropped their target price for the stock from $303.00 to $302.00 in a report on Wednesday, May 20th. Guggenheim upped their price target on shares of Cigna Group from $334.00 to $338.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Royal Bank Of Canada increased their price objective on shares of Cigna Group from $333.00 to $337.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. Robert W. Baird set a $337.00 price objective on shares of Cigna Group in a report on Friday, May 1st. Finally, Barclays downgraded shares of Cigna Group from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $310.00 to $304.00 in a research note on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, Cigna Group has a consensus rating of “Moderate Buy” and a consensus price target of $338.30.
Check Out Our Latest Analysis on Cigna Group
Cigna Group 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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