The Cigna Group (NYSE:CI) Stock Holdings Increased by Homestead Advisers Corp

Homestead Advisers Corp boosted its stake in shares of The Cigna Group (NYSE:CI) by 3.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 248,362 shares of the health services provider’s stock after purchasing an additional 9,200 shares during the period. The Cigna Group comprises approximately 1.7% of Homestead Advisers Corp’s holdings, making the stock its 28th largest position. Homestead Advisers Corp’s holdings in The Cigna Group were worth $68,583,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. TCTC Holdings LLC bought a new stake in shares of The Cigna Group in the 4th quarter valued at approximately $25,000. Collier Financial bought a new stake in The Cigna Group in the fourth quarter worth approximately $32,000. ORG Wealth Partners LLC acquired a new position in shares of The Cigna Group during the 4th quarter worth $34,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of The Cigna Group in the 4th quarter valued at $37,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of The Cigna Group in the 4th quarter valued at $53,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Trading Up 1.4 %

Shares of The Cigna Group stock opened at $321.18 on Thursday. The company’s fifty day moving average price is $302.98 and its two-hundred day moving average price is $314.24. The firm has a market capitalization of $87.90 billion, a PE ratio of 26.24, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. 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 announced its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 EPS 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 quarter in the prior year, the firm posted $6.79 EPS. On average, analysts expect that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CI shares. Sanford C. Bernstein cut The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price target for the company. in a research report on Thursday, February 6th. Royal Bank of Canada set a $355.00 target price on The Cigna Group in a report on Friday, January 31st. Piper Sandler reissued an “overweight” rating and issued a $348.00 price target (down previously from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Truist Financial decreased their price objective on shares of The Cigna Group from $390.00 to $375.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. Finally, Oppenheimer dropped their target price on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a report on Friday, January 31st. Two research 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 data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $373.25.

Insider Activity

In other The Cigna Group news, insider Nicole S. Jones sold 4,904 shares of the business’s stock in a transaction 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 transaction, the insider now owns 29,421 shares of the company’s stock, valued at approximately $9,065,198.52. The trade was a 14.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David Cordani sold 26,527 shares of the firm’s stock in a transaction 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 owns 127,767 shares of the company’s stock, valued at approximately $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. In the last quarter, insiders have sold 43,751 shares of company stock worth $13,603,991. Corporate 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.