Callan Capital LLC Takes $259,000 Position in The Cigna Group (NYSE:CI)

Callan Capital LLC purchased a new stake in The Cigna Group (NYSE:CI) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 712 shares of the health services provider’s stock, valued at approximately $259,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sanders Capital LLC increased its stake in shares of The Cigna Group by 1.3% in the fourth quarter. Sanders Capital LLC now owns 7,727,729 shares of the health services provider’s stock worth $2,314,068,000 after buying an additional 97,277 shares during the last quarter. Norges Bank bought a new stake in shares of The Cigna Group in the 4th quarter worth about $1,006,348,000. Parnassus Investments LLC raised its stake in shares of The Cigna Group by 5.0% in the 4th quarter. Parnassus Investments LLC now owns 2,682,061 shares of the health services provider’s stock valued at $803,143,000 after purchasing an additional 126,598 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of The Cigna Group by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,978,465 shares of the health services provider’s stock worth $592,451,000 after purchasing an additional 53,414 shares during the last quarter. Finally, California Public Employees Retirement System grew its stake in The Cigna Group by 7.7% in the fourth quarter. California Public Employees Retirement System now owns 967,477 shares of the health services provider’s stock worth $289,711,000 after purchasing an additional 69,084 shares in the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

The Cigna Group Stock Performance

Shares of CI traded up $1.54 during trading hours on Wednesday, reaching $329.91. 1,634,817 shares of the company’s stock traded hands, compared to its average volume of 1,610,401. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $365.71. The business’s fifty day simple moving average is $337.09 and its two-hundred day simple moving average is $334.86. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market capitalization of $93.72 billion, a price-to-earnings ratio of 27.04, a P/E/G ratio of 0.99 and a beta of 0.52.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, beating the consensus estimate of $6.17 by $0.30. The firm had revenue of $57.25 billion for the quarter, compared to analysts’ expectations of $56.59 billion. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The Cigna Group’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter last year, the company earned $5.41 EPS. Analysts predict that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Tuesday, June 4th were issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.70%. The ex-dividend date was Tuesday, June 4th. The Cigna Group’s dividend payout ratio is currently 45.98%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Robert W. Baird started coverage on The Cigna Group in a report on Thursday, May 30th. They set an “outperform” rating and a $388.00 target price on the stock. Oppenheimer boosted their target price on shares of The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Piper Sandler started coverage on shares of The Cigna Group in a research report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a research report on Wednesday. Finally, JPMorgan Chase & Co. raised their target price on shares of The Cigna Group from $432.00 to $435.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $376.20.

Insider Activity

In other news, insider Brian C. Evanko sold 4,795 shares of the stock in a transaction on Monday, June 24th. The shares were sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the transaction, the insider now owns 39,923 shares in the company, valued at approximately $13,773,834.23. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Noelle K. Eder sold 10,700 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $348.47, for a total value of $3,728,629.00. Following the sale, the insider now owns 15,824 shares of the company’s stock, valued at approximately $5,514,189.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Brian C. Evanko sold 4,795 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $345.01, for a total value of $1,654,322.95. Following the transaction, the insider now owns 39,923 shares of the company’s stock, valued at $13,773,834.23. The disclosure for this sale can be found here. Insiders have sold a total of 22,988 shares of company stock worth $7,975,726 in 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.