The Cigna Group (NYSE:CI) is Cairn Investment Group Inc.’s 10th Largest Position

Cairn Investment Group Inc. lowered its stake in shares of The Cigna Group (NYSE:CI) by 1.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,683 shares of the health services provider’s stock after selling 165 shares during the quarter. The Cigna Group comprises approximately 2.9% of Cairn Investment Group Inc.’s investment portfolio, making the stock its 10th largest holding. Cairn Investment Group Inc.’s holdings in The Cigna Group were worth $4,970,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. LPL Financial LLC raised its holdings in shares of The Cigna Group by 5.9% during the 3rd quarter. LPL Financial LLC now owns 124,311 shares of the health services provider’s stock worth $35,562,000 after acquiring an additional 6,957 shares during the period. Meiji Yasuda Asset Management Co Ltd. lifted its stake in The Cigna Group by 13.5% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,441 shares of the health services provider’s stock valued at $984,000 after buying an additional 410 shares during the last quarter. Operose Advisors LLC acquired a new position in shares of The Cigna Group in the third quarter valued at approximately $115,000. Valley National Advisers Inc. grew its holdings in The Cigna Group by 50.3% during the third quarter. Valley National Advisers Inc. now owns 1,010 shares of the health services provider’s stock worth $289,000 after acquiring an additional 338 shares during the period. Finally, Samalin Investment Counsel LLC grew its holdings in The Cigna Group by 7.5% during the third quarter. Samalin Investment Counsel LLC now owns 1,147 shares of the health services provider’s stock worth $328,000 after acquiring an additional 80 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

Insider Transactions at The Cigna Group

In related news, insider Brian C. Evanko sold 4,795 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the sale, the insider now owns 39,923 shares of the company’s stock, valued at approximately $13,773,834.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Brian C. Evanko sold 4,795 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the sale, the insider now owns 39,923 shares of the company’s stock, valued at approximately $13,773,834.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Elder Granger sold 1,000 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $338.08, for a total value of $338,080.00. Following the sale, the director now directly owns 5,471 shares in the company, valued at approximately $1,849,635.68. The disclosure for this sale can be found here. Insiders have sold 22,988 shares of company stock worth $7,975,726 in the last three months. Insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on CI. Baird R W raised The Cigna Group to a “strong-buy” rating in a report on Thursday, May 30th. Oppenheimer increased their target price on The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Piper Sandler assumed coverage on The Cigna Group in a research report on Wednesday. They set an “overweight” rating and a $400.00 target price on the stock. Morgan Stanley reiterated an “overweight” rating and set a $392.00 target price (up from $382.00) on shares of The Cigna Group in a research report on Monday, March 4th. Finally, JPMorgan Chase & Co. increased their target price on The Cigna Group from $432.00 to $435.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two 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 $376.20.

The Cigna Group Stock Performance

CI traded down $2.41 on Thursday, hitting $335.17. 207,600 shares of the stock traded hands, compared to its average volume of 1,605,703. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $365.71. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.75. The business has a fifty day moving average price of $341.96 and a two-hundred day moving average price of $332.69. The firm has a market capitalization of $95.21 billion, a PE ratio of 27.52, a P/E/G ratio of 1.03 and a beta of 0.53.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, topping analysts’ consensus estimates of $6.17 by $0.30. The business had revenue of $57.25 billion for the quarter, compared to analyst estimates of $56.59 billion. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The Cigna Group’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period in the prior year, the company earned $5.41 EPS. On average, research analysts predict that The Cigna Group will post 28.47 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Tuesday, June 4th were given a dividend of $1.40 per share. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.67%. The Cigna Group’s dividend payout ratio (DPR) is presently 45.98%.

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.