Nemes Rush Group LLC Boosts Stake in The Cigna Group (NYSE:CI)

Nemes Rush Group LLC raised its position in shares of The Cigna Group (NYSE:CI) by 19.6% during the fourth quarter, HoldingsChannel reports. The fund owned 3,883 shares of the health services provider’s stock after acquiring an additional 637 shares during the quarter. Nemes Rush Group LLC’s holdings in The Cigna Group were worth $1,072,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CI shares. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Raymond James reiterated a “strong-buy” rating and issued a $360.00 target price (down from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. UBS Group dropped their price objective on The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. 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 report on Monday, February 3rd. Finally, 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. Two research 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 company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $373.25.

The Cigna Group Stock Up 1.3 %

CI opened at $329.33 on Tuesday. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The firm has a 50 day moving average price of $305.58 and a 200 day moving average price of $313.24. 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 has a market cap of $90.13 billion, a PE ratio of 26.91, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53.

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 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 business posted $6.79 EPS. 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 announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were paid a $1.51 dividend. 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 annualized dividend and a dividend yield of 1.83%. The Cigna Group’s dividend payout ratio is 49.35%.

Insider Activity

In other The Cigna Group news, Director Elder Granger sold 2,376 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $310.35, for a total transaction of $737,391.60. Following the completion of the transaction, the director now directly owns 5,471 shares of the company’s stock, valued at approximately $1,697,924.85. This trade represents a 30.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO David Cordani sold 26,527 shares of the company’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 sale, the chief executive officer now directly owns 127,767 shares of the company’s stock, valued at approximately $39,367,568.04. This represents a 17.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,751 shares of company stock worth $13,603,991 over the last ninety days. Corporate 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.