Rossby Financial LCC Invests $211,000 in The Cigna Group (NYSE:CI)

Rossby Financial LCC bought a new stake in The Cigna Group (NYSE:CI) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 764 shares of the health services provider’s stock, valued at approximately $211,000.

Other institutional investors have also added to or reduced their stakes in the company. Garden State Investment Advisory Services LLC acquired a new stake in shares of The Cigna Group in the 3rd quarter valued at $444,000. Sunbelt Securities Inc. increased its holdings in shares of The Cigna Group by 24.9% during the third quarter. Sunbelt Securities Inc. now owns 216 shares of the health services provider’s stock worth $75,000 after buying an additional 43 shares in the last quarter. Advisory Resource Group raised its stake in shares of The Cigna Group by 2.0% in the third quarter. Advisory Resource Group now owns 13,163 shares of the health services provider’s stock valued at $4,560,000 after acquiring an additional 263 shares during the last quarter. Virtu Financial LLC boosted its holdings in shares of The Cigna Group by 39.6% in the 3rd quarter. Virtu Financial LLC now owns 17,173 shares of the health services provider’s stock worth $5,949,000 after acquiring an additional 4,870 shares in the last quarter. Finally, Te Ahumairangi Investment Management Ltd increased its holdings in The Cigna Group by 7.9% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 20,330 shares of the health services provider’s stock valued at $7,003,000 after purchasing an additional 1,490 shares in the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Truist Financial boosted their price objective on The Cigna Group from $375.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday. Piper Sandler reissued an “overweight” rating and set a $348.00 price objective (down previously from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Sanford C. Bernstein cut shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective for the company. in a research report on Thursday, February 6th. StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 8th. Finally, Mizuho raised their price target on shares of The Cigna Group from $360.00 to $384.00 and gave the company an “outperform” rating in a report on Wednesday, April 9th. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $375.00.

Insider Activity at The Cigna Group

In related news, CEO David Cordani sold 26,527 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $8,173,499.24. Following the completion of the transaction, the chief executive officer now directly owns 127,767 shares of the company’s stock, valued at approximately $39,367,568.04. This represents a 17.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Elder Granger sold 2,376 shares of The Cigna Group stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $310.35, for a total value of $737,391.60. Following the completion of the sale, the director now directly owns 5,471 shares in the company, valued at $1,697,924.85. This represents a 30.28 % 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 worth $13,603,991. 0.70% of the stock is owned by company insiders.

The Cigna Group Stock Performance

Shares of CI stock opened at $328.71 on Tuesday. The stock has a market cap of $89.96 billion, a PE ratio of 26.86, a price-to-earnings-growth ratio of 0.98 and a beta of 0.51. The stock has a 50-day moving average of $312.75 and a 200-day moving average of $310.94. 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 Cigna Group has a one year low of $262.03 and a one year high of $370.83.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, January 30th. The health services provider reported $6.64 EPS 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 quarter in the prior year, the company posted $6.79 earnings per share. As a group, sell-side analysts expect that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were given a dividend of $1.51 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.84%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio (DPR) is currently 49.35%.

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.