Goodman Financial Corp Grows Holdings in The Cigna Group (NYSE:CI)

Goodman Financial Corp grew its position in shares of The Cigna Group (NYSE:CI) by 9.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 44,658 shares of the health services provider’s stock after purchasing an additional 3,777 shares during the quarter. The Cigna Group accounts for 2.6% of Goodman Financial Corp’s holdings, making the stock its 22nd largest holding. Goodman Financial Corp’s holdings in The Cigna Group were worth $12,332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Sterling Financial Group Inc. acquired a new stake in The Cigna Group during the fourth quarter worth approximately $4,367,000. Principal Financial Group Inc. boosted its holdings in shares of The Cigna Group by 3.6% during the third quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider’s stock worth $112,216,000 after purchasing an additional 11,228 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. grew its position in shares of The Cigna Group by 1.1% in the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider’s stock valued at $20,942,000 after purchasing an additional 858 shares during the period. Valley Wealth Managers Inc. increased its stake in The Cigna Group by 2.8% in the fourth quarter. Valley Wealth Managers Inc. now owns 56,933 shares of the health services provider’s stock valued at $15,721,000 after purchasing an additional 1,548 shares during the last quarter. Finally, Pine Valley Investments Ltd Liability Co lifted its position in The Cigna Group by 28.3% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 15,713 shares of the health services provider’s stock worth $5,444,000 after buying an additional 3,466 shares during the period. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on CI shares. Truist Financial lowered their price target on The Cigna Group from $390.00 to $375.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. Piper Sandler restated an “overweight” rating and issued a $348.00 target price (down from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Oppenheimer cut their price target on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a research note on Friday, January 31st. Sanford C. Bernstein cut shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective for the company. in a research note on Thursday, February 6th. Finally, Stephens dropped their price objective on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $373.25.

The Cigna Group Price Performance

CI stock opened at $321.34 on Friday. The firm has a market cap of $87.94 billion, a P/E ratio of 26.25, a price-to-earnings-growth 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 Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The stock has a 50-day simple moving average of $300.07 and a 200-day simple moving average of $315.72.

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 (EPS) for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same quarter last year, the company posted $6.79 earnings per share. On average, equities analysts predict that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were issued a $1.51 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis 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 payout ratio is currently 49.35%.

Insider Buying and Selling at The Cigna Group

In related news, insider Noelle K. Eder sold 9,944 shares of The Cigna Group stock in a transaction on Friday, March 7th. The shares were sold at an average price of $320.00, for a total value of $3,182,080.00. Following the completion of the sale, the insider now owns 13,406 shares in the company, valued at approximately $4,289,920. The trade was a 42.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nicole S. Jones sold 4,904 shares of the stock in a transaction 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 owns 29,421 shares in the company, valued at $9,065,198.52. This trade represents a 14.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,751 shares of company stock valued at $13,603,991 in the last ninety days. Insiders own 0.60% 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.