May Hill Capital LLC Invests $248,000 in The Cigna Group (NYSE:CI)

May Hill Capital LLC purchased a new stake in The Cigna Group (NYSE:CI) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 897 shares of the health services provider’s stock, valued at approximately $248,000.

Other large investors have also modified their holdings of the company. Hudson Edge Investment Partners Inc. increased its holdings in shares of 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 valued at $520,000 after acquiring an additional 36 shares during the last quarter. Meridian Wealth Management LLC boosted its holdings in The Cigna Group by 1.0% in the fourth quarter. Meridian Wealth Management LLC now owns 3,670 shares of the health services provider’s stock worth $1,013,000 after purchasing an additional 37 shares during the period. Mindset Wealth Management LLC increased its stake in The Cigna Group by 2.6% during the fourth quarter. Mindset Wealth Management LLC now owns 1,469 shares of the health services provider’s stock valued at $406,000 after purchasing an additional 37 shares during the last quarter. Jacobi Capital Management LLC raised its holdings in shares of 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 worth $483,000 after purchasing an additional 38 shares during the period. Finally, Griffin Asset Management Inc. lifted its position in shares of The Cigna Group by 0.6% in the 4th quarter. Griffin Asset Management Inc. now owns 6,770 shares of the health services provider’s stock worth $1,869,000 after buying an additional 39 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CI. Wells Fargo & Company lowered 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. Royal Bank of Canada set a $355.00 target price on The Cigna Group in a research report on Friday, January 31st. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Truist Financial lowered their price target on shares of The Cigna Group from $390.00 to $375.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. Finally, Sanford C. Bernstein downgraded shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective on the stock. in a research report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned 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 $373.25.

The Cigna Group Trading Up 0.6 %

The Cigna Group stock opened at $330.97 on Wednesday. The Cigna Group has a 12-month low of $262.03 and a 12-month 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 stock has a market capitalization of $90.58 billion, a PE ratio of 27.04, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53. The firm has a 50 day simple moving average of $306.43 and a 200-day simple moving average of $313.00.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business earned $6.79 EPS. As a group, equities research analysts expect that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were given 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 yield of 1.82%. The Cigna Group’s payout ratio is 49.35%.

Insider Buying and Selling at The Cigna Group

In other news, CEO David Cordani sold 26,527 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 transaction 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 $39,367,568.04. The trade was a 17.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Noelle K. Eder sold 9,944 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $320.00, for a total value of $3,182,080.00. Following the completion of the sale, the insider now directly owns 13,406 shares of the company’s stock, valued at approximately $4,289,920. This trade represents a 42.59 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 43,751 shares of company stock valued at $13,603,991. 0.70% of the stock is owned by insiders.

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.