MRP Capital Investments LLC Invests $66,000 in The Cigna Group (NYSE:CI)

MRP Capital Investments LLC bought a new position in shares of The Cigna Group (NYSE:CI) in the fourth quarter, Holdings Channel reports. The firm bought 240 shares of the health services provider’s stock, valued at approximately $66,000.

Other institutional investors have also modified their holdings of the company. CreativeOne Wealth LLC boosted its holdings in The Cigna Group by 3.0% in the 3rd quarter. CreativeOne Wealth LLC now owns 1,219 shares of the health services provider’s stock worth $422,000 after acquiring an additional 35 shares during the period. Hudson Edge Investment Partners Inc. boosted its holdings in The Cigna Group by 1.9% in the 4th quarter. Hudson Edge Investment Partners Inc. now owns 1,883 shares of the health services provider’s stock worth $520,000 after acquiring an additional 36 shares during the period. Meridian Wealth Management LLC boosted its holdings in The Cigna Group by 1.0% in the 4th quarter. Meridian Wealth Management LLC now owns 3,670 shares of the health services provider’s stock worth $1,013,000 after acquiring an additional 37 shares during the period. Smithfield Trust Co boosted its holdings in The Cigna Group by 3.6% in the 3rd quarter. Smithfield Trust Co now owns 1,080 shares of the health services provider’s stock worth $373,000 after acquiring an additional 38 shares during the period. Finally, Jacobi Capital Management LLC raised its position in shares of The Cigna Group by 2.2% in the 4th quarter. Jacobi Capital Management LLC now owns 1,749 shares of the health services provider’s stock valued at $483,000 after purchasing an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

CI has been the topic of a number of recent analyst reports. Truist Financial cut their target price on The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. Morgan Stanley cut their target price on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Piper Sandler reaffirmed an “overweight” rating and issued a $348.00 target price (down from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Wells Fargo & Company dropped their price target on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Finally, UBS Group dropped their price target on 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. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, The Cigna Group presently has an average rating of “Buy” and an average target price of $373.25.

The Cigna Group Trading Up 0.2 %

NYSE:CI opened at $321.34 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The firm has a market capitalization of $87.94 billion, a price-to-earnings ratio of 26.25, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53. The stock has a fifty day simple moving average of $300.07 and a 200 day simple moving average of $315.72.

The Cigna Group (NYSE:CI) last posted its quarterly 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 earned $6.79 EPS. Sell-side analysts forecast that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were paid a dividend of $1.51 per share. The ex-dividend date was Wednesday, March 5th. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.88%. The Cigna Group’s dividend payout ratio (DPR) is 49.35%.

Insider Transactions at The Cigna Group

In other news, insider Noelle K. Eder sold 9,944 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the transaction, the insider now owns 13,406 shares of the company’s stock, valued at approximately $4,289,920. This represents a 42.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David Cordani sold 26,527 shares of the firm’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 value of $8,173,499.24. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders sold 43,751 shares of company stock valued at $13,603,991 in the last three months. Corporate 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.