Syon Capital LLC Buys 875 Shares of The Cigna Group (NYSE:CI)

Syon Capital LLC lifted its position in shares of The Cigna Group (NYSE:CI) by 33.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,500 shares of the health services provider’s stock after purchasing an additional 875 shares during the period. Syon Capital LLC’s holdings in The Cigna Group were worth $1,048,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. FMR LLC lifted its holdings in shares of The Cigna Group by 13.8% during the third quarter. FMR LLC now owns 15,967,363 shares of the health services provider’s stock valued at $4,567,783,000 after purchasing an additional 1,939,554 shares during the last quarter. Sanders Capital LLC increased its position in shares of The Cigna Group by 1.3% during the fourth quarter. Sanders Capital LLC now owns 7,727,729 shares of the health services provider’s stock valued at $2,314,068,000 after acquiring an additional 97,277 shares in the last quarter. Morgan Stanley increased its position in shares of The Cigna Group by 4.7% during the third quarter. Morgan Stanley now owns 4,973,106 shares of the health services provider’s stock valued at $1,422,657,000 after acquiring an additional 225,115 shares in the last quarter. Norges Bank bought a new stake in shares of The Cigna Group during the fourth quarter valued at approximately $1,006,348,000. Finally, Northern Trust Corp increased its position in shares of The Cigna Group by 5.9% during the third quarter. Northern Trust Corp now owns 3,244,157 shares of the health services provider’s stock valued at $928,056,000 after acquiring an additional 181,385 shares in the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

The Cigna Group Stock Down 0.3 %

Shares of CI stock traded down $0.86 during trading on Friday, reaching $333.29. The company’s stock had a trading volume of 907,518 shares, compared to its average volume of 1,606,879. 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 Cigna Group has a 1-year low of $253.95 and a 1-year high of $365.71. The company has a market capitalization of $94.68 billion, a price-to-earnings ratio of 27.37, a P/E/G ratio of 1.02 and a beta of 0.53. The stock’s 50-day moving average price is $344.30 and its 200 day moving average price is $328.13.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, topping the consensus estimate of $6.17 by $0.30. The company had revenue of $57.25 billion during 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 firm’s revenue was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.41 EPS. On average, research analysts anticipate that The Cigna Group will post 28.47 EPS for the current year.

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th will be issued a $1.40 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.68%. The Cigna Group’s dividend payout ratio is presently 45.98%.

Analyst Upgrades and Downgrades

Several brokerages have commented on CI. Baird R W upgraded shares of The Cigna Group to a “strong-buy” rating in a research note on Thursday, May 30th. Barclays started coverage on shares of The Cigna Group in a report on Wednesday, March 6th. They set an “overweight” rating and a $393.00 price target on the stock. StockNews.com downgraded shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. upped their price target on shares of The Cigna Group from $432.00 to $435.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Finally, Robert W. Baird started coverage on shares of The Cigna Group in a report on Thursday, May 30th. They set an “outperform” rating and a $388.00 price target on the stock. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $373.87.

Insider Activity

In other The Cigna Group news, CEO David Cordani sold 6,338 shares of the firm’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $355.11, for a total transaction of $2,250,687.18. Following the completion of the transaction, the chief executive officer now directly owns 348,054 shares in the company, valued at approximately $123,597,455.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO David Cordani sold 6,338 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $355.11, for a total value of $2,250,687.18. Following the sale, the chief executive officer now directly owns 348,054 shares of the company’s stock, valued at $123,597,455.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Noelle K. Eder sold 10,700 shares of The Cigna Group stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $348.47, for a total transaction of $3,728,629.00. Following the transaction, the insider now directly owns 15,824 shares in the company, valued at $5,514,189.28. The disclosure for this sale can be found here. Insiders sold 55,193 shares of company stock worth $19,475,326 in the last 90 days. 0.60% of the stock is currently owned by corporate 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.