The Cigna Group (NYSE:CI) Shares Sold by Sivik Global Healthcare LLC

Sivik Global Healthcare LLC lowered its stake in shares of The Cigna Group (NYSE:CI) by 30.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,500 shares of the health services provider’s stock after selling 7,500 shares during the period. The Cigna Group makes up approximately 2.2% of Sivik Global Healthcare LLC’s portfolio, making the stock its 27th biggest holding. Sivik Global Healthcare LLC’s holdings in The Cigna Group were worth $5,240,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CI. Bogart Wealth LLC raised its holdings in The Cigna Group by 104.5% in the third quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock valued at $26,000 after buying an additional 46 shares during the period. OFI Invest Asset Management acquired a new position in shares of The Cigna Group during the 3rd quarter valued at $26,000. Fortitude Family Office LLC purchased a new stake in The Cigna Group during the 4th quarter worth $29,000. VisionPoint Advisory Group LLC increased its holdings in The Cigna Group by 112.2% in 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 in the last quarter. Finally, Pacifica Partners Inc. raised its position in The Cigna Group by 73.2% in the fourth 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 period. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CI. Royal Bank of Canada upgraded shares of The Cigna Group from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $327.00 to $354.00 in a research note on Monday, February 5th. Barclays began coverage on The Cigna Group in a report on Wednesday, March 6th. They set an “overweight” rating and a $393.00 price objective on the stock. Morgan Stanley reiterated an “overweight” rating and set a $392.00 target price (up from $382.00) on shares of The Cigna Group in a research note on Monday, March 4th. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 14th. Finally, Wells Fargo & Company increased their price objective on shares of The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 6th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, The Cigna Group presently has an average rating of “Buy” and a consensus price target of $362.14.

The Cigna Group Stock Performance

Shares of The Cigna Group stock traded up $0.67 on Tuesday, reaching $357.11. 1,216,208 shares of the company were exchanged, compared to its average volume of 1,561,397. The firm has a market cap of $104.40 billion, a price-to-earnings ratio of 20.54, a P/E/G ratio of 1.09 and a beta of 0.56. The Cigna Group has a 1-year low of $240.50 and a 1-year high of $365.71. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.67 and a current ratio of 0.67. The company’s 50-day moving average is $350.50 and its two-hundred day moving average is $318.94.

The Cigna Group (NYSE:CI) last issued its earnings results on Friday, February 2nd. The health services provider reported $6.79 earnings per share for the quarter, topping the consensus estimate of $6.54 by $0.25. The Cigna Group had a return on equity of 13.59% and a net margin of 2.64%. The firm had revenue of $51.15 billion for the quarter, compared to analyst estimates of $48.91 billion. During the same period last year, the company earned $4.96 earnings per share. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. As a group, research analysts expect that The Cigna Group will post 28.36 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th will be paid a $1.40 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.57%. The Cigna Group’s payout ratio is currently 32.20%.

Insider Activity

In other news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the transaction, the senior vice president now directly owns 2,102 shares of the company’s stock, valued at $694,668.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total value of $1,608,446.16. Following the sale, the senior vice president now owns 2,102 shares of the company’s stock, valued at approximately $694,668.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David Cordani sold 38,065 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $335.22, for a total value of $12,760,149.30. Following the completion of the sale, the chief executive officer now owns 329,321 shares of the company’s stock, valued at approximately $110,394,985.62. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 114,144 shares of company stock valued at $39,296,330. Insiders own 0.70% of the company’s stock.

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.