Simplify Asset Management Inc. Buys 714 Shares of The Cigna Group (NYSE:CI)

Simplify Asset Management Inc. boosted its holdings in shares of The Cigna Group (NYSE:CI – Get Rating) by 8.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,851 shares of the health services provider’s stock after purchasing an additional 714 shares during the quarter. The Cigna Group comprises about 0.5% of Simplify Asset Management Inc.’s investment portfolio, making the stock its 15th largest position. Simplify Asset Management Inc.’s holdings in The Cigna Group were worth $2,933,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CI. Axiom Financial Strategies LLC purchased a new stake in The Cigna Group during the first quarter valued at $212,000. Fairfield Bush & CO. purchased a new stake in shares of The Cigna Group in the first quarter valued at $40,000. Cibc World Market Inc. raised its stake in shares of The Cigna Group by 52.6% in the first quarter. Cibc World Market Inc. now owns 18,975 shares of the health services provider’s stock valued at $4,547,000 after acquiring an additional 6,538 shares during the period. Vontobel Holding Ltd. raised its stake in shares of The Cigna Group by 6.5% in the first quarter. Vontobel Holding Ltd. now owns 9,212 shares of the health services provider’s stock valued at $2,265,000 after acquiring an additional 566 shares during the period. Finally, Sequoia Financial Advisors LLC raised its stake in shares of The Cigna Group by 36.5% in the first quarter. Sequoia Financial Advisors LLC now owns 1,283 shares of the health services provider’s stock valued at $307,000 after acquiring an additional 343 shares during the period. Hedge funds and other institutional investors own 87.61% of the company’s stock.

The Cigna Group Trading Down 1.5 %

Shares of CI stock traded down $3.74 on Friday, hitting $243.33. 767,521 shares of the stock traded hands, compared to its average volume of 1,763,010. The firm’s 50-day moving average price is $258.32 and its two-hundred day moving average price is $292.04. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market capitalization of $71.99 billion, a PE ratio of 11.26, a PEG ratio of 0.90 and a beta of 0.62. The Cigna Group has a twelve month low of $240.11 and a twelve month high of $340.11.

The Cigna Group (NYSE:CI – Get Rating) last announced its quarterly earnings results on Friday, May 5th. The health services provider reported $5.41 earnings per share for the quarter, beating the consensus estimate of $5.23 by $0.18. The firm had revenue of $46.52 billion for the quarter, compared to analysts’ expectations of $45.43 billion. The Cigna Group had a net margin of 3.69% and a return on equity of 12.65%. The company’s revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.01 EPS. As a group, analysts anticipate that The Cigna Group will post 24.8 EPS for the current year.

The Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 22nd. Investors of record on Wednesday, June 7th will be issued a $1.23 dividend. This represents a $4.92 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Tuesday, June 6th. The Cigna Group’s dividend payout ratio (DPR) is 22.42%.

Insider Activity

In other The Cigna Group news, CEO David Cordani sold 20,148 shares of the stock in a transaction on Monday, February 27th. The stock was sold at an average price of $294.06, for a total value of $5,924,720.88. Following the completion of the transaction, the chief executive officer now owns 120,496 shares in the company, valued at $35,433,053.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO David Cordani sold 20,148 shares of the firm’s stock in a transaction on Monday, February 27th. The stock was sold at an average price of $294.06, for a total value of $5,924,720.88. Following the completion of the transaction, the chief executive officer now owns 120,496 shares in the company, valued at $35,433,053.76. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Donna F. Zarcone sold 757 shares of the stock in a transaction on Monday, May 1st. The shares were sold at an average price of $253.29, for a total value of $191,740.53. Following the sale, the director now directly owns 25,558 shares in the company, valued at approximately $6,473,585.82. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,509 shares of company stock valued at $8,200,219. 0.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CI has been the topic of several recent analyst reports. Wells Fargo & Company reduced their target price on shares of The Cigna Group from $355.00 to $284.00 in a research note on Monday, May 8th. Cantor Fitzgerald started coverage on shares of The Cigna Group in a research note on Thursday, April 20th. They issued a “neutral” rating and a $285.00 price target on the stock. Stephens reaffirmed an “overweight” rating and issued a $370.00 price target on shares of The Cigna Group in a research note on Tuesday, March 21st. Royal Bank of Canada reduced their price target on shares of The Cigna Group from $333.00 to $287.00 in a research note on Monday, May 8th. Finally, SVB Securities reduced their price target on shares of The Cigna Group from $335.00 to $309.00 in a research note on Wednesday, February 8th. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $329.00.

About The Cigna Group

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The Cigna Group is engaged in the provision of global health services. It operates through the following segments: Evernorth, U.S. Medical, International Markets, and Group Disability and Other. The Evernorth segment includes a broad range of coordinated and point solution health services, including pharmacy solutions, benefits management solutions, care solutions and intelligence solutions.