Main Street Research LLC Boosts Stock Position in The Cigna Group (NYSE:CI)

Main Street Research LLC grew its position in shares of The Cigna Group (NYSE:CI) by 10.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 785 shares of the health services provider’s stock after acquiring an additional 73 shares during the period. Main Street Research LLC’s holdings in The Cigna Group were worth $217,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Collier Financial purchased a new stake in The Cigna Group in the fourth quarter worth approximately $32,000. ORG Wealth Partners LLC bought a new stake in shares of The Cigna Group in the 4th quarter worth approximately $34,000. Prospera Private Wealth LLC purchased a new stake in shares of The Cigna Group in the 3rd quarter valued at $37,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of The Cigna Group in the 4th quarter valued at $37,000. Finally, Heck Capital Advisors LLC purchased a new position in The Cigna Group in the 4th quarter worth $53,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Price Performance

Shares of NYSE CI opened at $321.48 on Monday. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The stock has a market capitalization of $87.98 billion, a P/E ratio of 26.26, a P/E/G ratio of 0.98 and a beta of 0.53. The company’s 50-day moving average is $292.84 and its 200 day moving average is $317.54. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing analysts’ consensus estimates of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same period in the previous year, the company posted $6.79 EPS. On average, sell-side analysts expect that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be given a dividend of $1.51 per share. The ex-dividend date is Wednesday, March 5th. This represents a $6.04 annualized dividend and a yield of 1.88%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio (DPR) is currently 49.35%.

Analyst Upgrades and Downgrades

CI has been the subject of several analyst reports. Wells Fargo & Company cut their price target on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Royal Bank of Canada set a $355.00 target price on The Cigna Group in a report on Friday, January 31st. Truist Financial decreased their price target on The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. Morgan Stanley dropped their price objective on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Finally, Barclays cut their target price on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, The Cigna Group presently has an average rating of “Buy” and a consensus price target of $372.31.

Insider Buying and Selling at The Cigna Group

In other news, CEO David Cordani sold 26,527 shares of The Cigna Group stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the completion of the transaction, the chief executive officer now directly owns 127,767 shares in the company, valued at approximately $39,367,568.04. This trade represents a 17.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicole S. Jones sold 4,904 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $1,511,020.48. Following the completion of the sale, the insider now owns 29,421 shares in the company, valued at $9,065,198.52. The trade was a 14.29 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.60% 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.