The Cigna Group (NYSE:CI) Shares Purchased by SouthState Corp

SouthState Corp raised its stake in The Cigna Group (NYSE:CI) by 594.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,474 shares of the health services provider’s stock after purchasing an additional 2,974 shares during the quarter. SouthState Corp’s holdings in The Cigna Group were worth $1,040,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in CI. Pinnacle Associates Ltd. lifted its stake in shares of The Cigna Group by 2.3% in the 3rd quarter. Pinnacle Associates Ltd. now owns 3,848 shares of the health services provider’s stock valued at $1,101,000 after purchasing an additional 88 shares in the last quarter. Dakota Wealth Management lifted its position in The Cigna Group by 9.7% during the third quarter. Dakota Wealth Management now owns 1,005 shares of the health services provider’s stock valued at $288,000 after buying an additional 89 shares in the last quarter. Simon Quick Advisors LLC grew its stake in The Cigna Group by 17.9% during the third quarter. Simon Quick Advisors LLC now owns 928 shares of the health services provider’s stock worth $266,000 after buying an additional 141 shares during the period. Stratos Wealth Partners LTD. increased its position in shares of The Cigna Group by 26.3% in the third quarter. Stratos Wealth Partners LTD. now owns 6,762 shares of the health services provider’s stock worth $1,935,000 after acquiring an additional 1,407 shares in the last quarter. Finally, Stratos Wealth Advisors LLC raised its stake in shares of The Cigna Group by 59.8% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 2,406 shares of the health services provider’s stock valued at $688,000 after acquiring an additional 900 shares during the period. 86.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Sanford C. Bernstein raised shares of The Cigna Group from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $330.00 to $372.00 in a research report on Thursday, January 4th. Wells Fargo & Company raised their target price on The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. Cantor Fitzgerald upped their price target on The Cigna Group from $384.00 to $400.00 and gave the stock an “overweight” rating in a report on Friday. Morgan Stanley reaffirmed an “overweight” rating and issued a $392.00 price objective (up previously from $382.00) on shares of The Cigna Group in a research report on Monday, March 4th. Finally, Barclays started coverage on shares of The Cigna Group in a research report on Wednesday, March 6th. They set an “overweight” rating and a $393.00 target price on the stock. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, The Cigna Group has a consensus rating of “Buy” and an average target price of $366.14.

Insider Activity at The Cigna Group

In other news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the completion of the transaction, the senior vice president now owns 2,102 shares in the company, valued at $694,668.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 2,102 shares in the company, valued at $694,668.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David Cordani sold 31,209 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $355.17, for a total value of $11,084,500.53. Following the completion of the transaction, the chief executive officer now directly owns 348,054 shares of the company’s stock, valued at $123,618,339.18. The disclosure for this sale can be found here. Insiders sold 114,144 shares of company stock worth $39,296,330 in the last 90 days. 0.60% of the stock is currently owned by company insiders.

The Cigna Group Stock Performance

The Cigna Group stock traded down $3.05 during mid-day trading on Friday, reaching $341.45. The company’s stock had a trading volume of 2,413,542 shares, compared to its average volume of 1,593,263. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.61. The Cigna Group has a twelve month low of $240.50 and a twelve month high of $365.71. The business has a 50 day moving average price of $350.82 and a 200-day moving average price of $319.39. The firm has a market cap of $99.83 billion, a price-to-earnings ratio of 19.64, a PEG ratio of 1.09 and a beta of 0.57.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, beating the consensus estimate of $6.17 by $0.30. The business had revenue of $57.25 billion during the quarter, compared to analyst estimates of $56.59 billion. The Cigna Group had a net margin of 2.64% and a return on equity of 13.59%. The company’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period in the previous year, the business posted $5.41 EPS. Sell-side analysts predict that The Cigna Group will post 28.36 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Tuesday, June 4th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend is Tuesday, June 4th. The Cigna Group’s dividend payout ratio (DPR) is 32.20%.

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.