Allstate Corp Buys New Shares in The Cigna Group (NYSE:CI)

Allstate Corp purchased a new position in The Cigna Group (NYSE:CI) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 8,303 shares of the health services provider’s stock, valued at approximately $2,293,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CI. CreativeOne Wealth LLC boosted its holdings in shares of 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 valued at $422,000 after purchasing an additional 35 shares during the last quarter. Hudson Edge Investment Partners Inc. boosted its holdings in The Cigna Group by 1.9% in the fourth quarter. Hudson Edge Investment Partners Inc. now owns 1,883 shares of the health services provider’s stock valued at $520,000 after acquiring an additional 36 shares during the last quarter. Meridian Wealth Management LLC grew its position in The Cigna Group by 1.0% during the fourth quarter. Meridian Wealth Management LLC now owns 3,670 shares of the health services provider’s stock valued at $1,013,000 after acquiring an additional 37 shares during the period. Mindset Wealth Management LLC increased its position in The Cigna Group by 2.6% during the 4th quarter. Mindset Wealth Management LLC now owns 1,469 shares of the health services provider’s stock worth $406,000 after purchasing an additional 37 shares in the last quarter. Finally, Jacobi Capital Management LLC lifted its position in The Cigna Group by 2.2% during the fourth quarter. Jacobi Capital Management LLC now owns 1,749 shares of the health services provider’s stock valued at $483,000 after buying an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CI. Barclays cut their target price on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. UBS Group dropped their price target on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Wells Fargo & Company decreased their price objective on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Sanford C. Bernstein lowered The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 target price on the stock. in a research report on Thursday, February 6th. Finally, Stephens decreased their price target on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, The Cigna Group has a consensus rating of “Buy” and an average price target of $373.25.

Insider Activity at The Cigna Group

In other 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 sale, the director now owns 5,471 shares in the company, valued at approximately $1,697,924.85. This represents a 30.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nicole S. Jones sold 4,904 shares of The Cigna Group 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 completion of the transaction, the insider now owns 29,421 shares in the company, valued at $9,065,198.52. The trade was a 14.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,751 shares of company stock worth $13,603,991 over the last quarter. 0.70% of the stock is currently owned by company insiders.

The Cigna Group Trading Up 0.1 %

Shares of NYSE:CI opened at $324.97 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 company’s 50-day moving average price is $304.67 and its 200 day moving average price is $313.78. The company has a market cap of $88.94 billion, a PE ratio of 26.55, a P/E/G ratio of 0.98 and a beta of 0.53. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83.

The Cigna Group (NYSE:CI) last announced 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 period in the prior year, the company posted $6.79 EPS. Sell-side analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were issued a $1.51 dividend. The ex-dividend date was Wednesday, March 5th. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a dividend yield of 1.86%. The Cigna Group’s dividend payout ratio (DPR) is 49.35%.

The Cigna Group 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.