New Age Alpha Advisors LLC Purchases 4,384 Shares of The Cigna Group (NYSE:CI)

New Age Alpha Advisors LLC increased its position in shares of The Cigna Group (NYSE:CI) by 15,657.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 4,412 shares of the health services provider’s stock after buying an additional 4,384 shares during the quarter. New Age Alpha Advisors LLC’s holdings in The Cigna Group were worth $1,218,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of CI. TCTC Holdings LLC bought a new stake in The Cigna Group during the fourth quarter valued at about $25,000. Collier Financial bought a new stake in The Cigna Group during the 4th quarter valued at approximately $32,000. ORG Wealth Partners LLC acquired a new stake in The Cigna Group in the 4th quarter valued at approximately $34,000. Compagnie Lombard Odier SCmA bought a new position in The Cigna Group in the 4th quarter worth approximately $37,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of The Cigna Group during the fourth quarter worth approximately $53,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CI has been the topic of several research analyst reports. Cantor Fitzgerald raised their price objective on shares of The Cigna Group from $350.00 to $365.00 and gave the stock an “overweight” rating in a research note on Thursday, March 20th. UBS Group decreased their price target on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Stephens cut their price objective on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, Oppenheimer cut their price target on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $373.25.

The Cigna Group Stock Up 0.1 %

Shares of NYSE:CI opened at $324.97 on Monday. The company has a market capitalization of $88.94 billion, a PE ratio of 26.55, a P/E/G ratio of 0.98 and a beta of 0.53. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The company’s fifty day moving average is $304.67 and its 200-day moving average is $313.47. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing the consensus estimate 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 quarter in the prior year, the firm earned $6.79 EPS. Equities research analysts predict that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were given a $1.51 dividend. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date was Wednesday, March 5th. This represents a $6.04 annualized dividend and a yield of 1.86%. The Cigna Group’s payout ratio is presently 49.35%.

Insider Transactions at The Cigna Group

In other news, insider Nicole S. Jones sold 4,904 shares of the company’s 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 $1,511,020.48. Following the transaction, the insider now directly owns 29,421 shares in the company, valued at approximately $9,065,198.52. This represents a 14.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David Cordani sold 26,527 shares of the 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 sale, the chief executive officer now directly owns 127,767 shares in the company, valued at $39,367,568.04. This trade represents a 17.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,751 shares of company stock worth $13,603,991. Insiders own 0.70% of the company’s stock.

About The Cigna Group

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.