The Cigna Group (NYSE:CI) Shares Acquired by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC lifted its position in shares of The Cigna Group (NYSE:CIFree Report) by 3.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,952 shares of the health services provider’s stock after acquiring an additional 177 shares during the quarter. Verdence Capital Advisors LLC’s holdings in The Cigna Group were worth $1,483,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Roman Butler Fullerton & Co. increased its stake in shares of The Cigna Group by 61.4% during the fourth quarter. Roman Butler Fullerton & Co. now owns 9,307 shares of the health services provider’s stock worth $2,772,000 after acquiring an additional 3,539 shares during the period. Ellsworth Advisors LLC acquired a new position in shares of The Cigna Group during the fourth quarter worth about $4,377,000. Sapient Capital LLC acquired a new position in shares of The Cigna Group during the fourth quarter worth about $2,811,000. Allspring Global Investments Holdings LLC increased its stake in shares of The Cigna Group by 29.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 293,438 shares of the health services provider’s stock worth $87,870,000 after acquiring an additional 66,891 shares during the period. Finally, Accurate Wealth Management LLC acquired a new position in shares of The Cigna Group during the fourth quarter worth about $2,244,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Price Performance

Shares of NYSE CI traded up $3.61 on Friday, hitting $352.39. The company’s stock had a trading volume of 1,305,066 shares, compared to its average volume of 1,262,346. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.67. The company has a market capitalization of $103.02 billion, a price-to-earnings ratio of 20.26, a price-to-earnings-growth ratio of 1.08 and a beta of 0.56. The stock has a 50 day moving average of $348.41 and a 200-day moving average of $315.70. The Cigna Group has a 12-month low of $240.50 and a 12-month high of $365.71.

The Cigna Group (NYSE:CIGet Free Report) last announced its quarterly earnings data on Friday, February 2nd. The health services provider reported $6.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.54 by $0.25. The business had revenue of $51.15 billion for the quarter, compared to the consensus estimate of $48.91 billion. The Cigna Group had a net margin of 2.64% and a return on equity of 13.59%. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.96 earnings per share. As a group, research analysts predict that The Cigna Group will post 28.36 EPS for the current year.

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Wednesday, March 6th were paid a dividend of $1.40 per share. This is an increase from The Cigna Group’s previous quarterly dividend of $1.23. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $5.60 annualized dividend and a dividend yield of 1.59%. The Cigna Group’s dividend payout ratio is presently 32.20%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Barclays assumed coverage on shares of The Cigna Group in a research report on Wednesday, March 6th. They set an “overweight” rating and a $393.00 target price on the stock. Royal Bank of Canada upgraded shares of The Cigna Group from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $327.00 to $354.00 in a research report on Monday, February 5th. Cantor Fitzgerald restated an “overweight” rating and set a $384.00 target price on shares of The Cigna Group in a research report on Wednesday, April 10th. Oppenheimer restated an “outperform” rating and set a $360.00 target price on shares of The Cigna Group in a research report on Wednesday, January 17th. Finally, Mizuho upped their target price on shares of The Cigna Group from $360.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, The Cigna Group presently has an average rating of “Buy” and an average target price of $362.14.

Read Our Latest Report on CI

Insider Activity at The Cigna Group

In related news, CEO David Cordani sold 38,065 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $335.22, for a total transaction of $12,760,149.30. Following the transaction, the chief executive officer now owns 329,321 shares of the company’s stock, valued at $110,394,985.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other The Cigna Group news, insider Eric P. Palmer sold 1,017 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $335.26, for a total transaction of $340,959.42. Following the transaction, the insider now owns 45,564 shares of the company’s stock, valued at $15,275,786.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO David Cordani sold 38,065 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $335.22, for a total transaction of $12,760,149.30. Following the transaction, the chief executive officer now directly owns 329,321 shares in the company, valued at approximately $110,394,985.62. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 114,144 shares of company stock valued at $39,296,330. Company insiders own 0.60% of the company’s stock.

The Cigna Group Profile

(Free Report)

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.

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Institutional Ownership by Quarter for The Cigna Group (NYSE:CI)

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