OMERS ADMINISTRATION Corp raised its position in Cigna Group (NYSE:CI – Free Report) by 25.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,052 shares of the health services provider’s stock after acquiring an additional 2,628 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Cigna Group were worth $3,482,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of CI. Wilkerson Advisory Group LLC acquired a new stake in shares of Cigna Group during the fourth quarter worth about $25,000. Kemnay Advisory Services Inc. acquired a new position in shares of Cigna Group in the fourth quarter valued at approximately $29,000. Prosperity Bancshares Inc purchased a new stake in Cigna Group during the 4th quarter worth approximately $29,000. Cedar Mountain Advisors LLC increased its stake in Cigna Group by 161.9% during the 1st quarter. Cedar Mountain Advisors LLC now owns 110 shares of the health services provider’s stock worth $29,000 after buying an additional 68 shares during the period. Finally, Lodestone Wealth Management LLC acquired a new stake in Cigna Group during the 4th quarter worth approximately $32,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.
Cigna Group Price Performance
Cigna Group stock opened at $291.35 on Tuesday. The stock has a market cap of $77.07 billion, a P/E ratio of 12.35, a price-to-earnings-growth ratio of 1.12 and a beta of 0.29. The company has a fifty day simple moving average of $286.15 and a 200-day simple moving average of $280.80. Cigna Group has a 12-month low of $239.51 and a 12-month high of $315.47. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.69.
Cigna Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Tuesday, September 8th will be issued a $1.56 dividend. The ex-dividend date is Tuesday, September 8th. This represents a $6.24 dividend on an annualized basis and a dividend yield of 2.1%. Cigna Group’s dividend payout ratio is presently 26.45%.
Analysts Set New Price Targets
Several equities analysts have commented on CI shares. Barclays downgraded shares of Cigna Group from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $310.00 to $304.00 in a research note on Tuesday, May 26th. Cantor Fitzgerald increased their price objective on Cigna Group from $325.00 to $340.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Royal Bank Of Canada boosted their target price on Cigna Group from $333.00 to $337.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. Morgan Stanley upped their price target on Cigna Group from $355.00 to $361.00 and gave the stock an “overweight” rating in a report on Wednesday, May 20th. Finally, Robert W. Baird set a $337.00 price target on Cigna Group in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $338.80.
View Our Latest Stock Report on CI
Insider Transactions at Cigna Group
In related news, CAO Jamie G. Kates sold 899 shares of the company’s stock in a transaction that occurred 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 transaction, the chief accounting officer directly owned 2,368 shares of the company’s stock, valued at $707,108.48. This represents a 27.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David Cordani sold 201,878 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were 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 owned 34,337 shares in the company, valued at $10,054,560.34. This represents a 85.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.60% of the company’s stock.
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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