Sivia Capital Partners LLC Purchases New Position in The Cigna Group (NYSE:CI)

Sivia Capital Partners LLC bought a new position in shares of The Cigna Group (NYSE:CI) during the fourth quarter, Holdings Channel.com reports. The firm bought 1,260 shares of the health services provider’s stock, valued at approximately $377,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CI. Fortitude Family Office LLC purchased a new position in shares of The Cigna Group during the 4th quarter worth approximately $29,000. VisionPoint Advisory Group LLC grew its stake in shares of The Cigna Group by 112.2% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock worth $30,000 after buying an additional 55 shares during the last quarter. Raleigh Capital Management Inc. grew its stake in shares of The Cigna Group by 69.5% in the 4th quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock worth $30,000 after buying an additional 41 shares during the last quarter. Pineridge Advisors LLC purchased a new stake in shares of The Cigna Group in the 4th quarter worth approximately $37,000. Finally, Pacifica Partners Inc. grew its stake in shares of The Cigna Group by 73.2% in the 4th quarter. Pacifica Partners Inc. now owns 142 shares of the health services provider’s stock worth $43,000 after buying an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Performance

The Cigna Group stock traded down $0.94 during trading on Monday, reaching $332.35. The company had a trading volume of 382,810 shares, compared to its average volume of 1,599,217. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $365.71. The firm’s 50-day simple moving average is $344.30 and its 200 day simple moving average is $328.88. The firm has a market capitalization of $94.41 billion, a price-to-earnings ratio of 27.36, a price-to-earnings-growth ratio of 1.02 and a beta of 0.54. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.75.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, topping analysts’ consensus estimates of $6.17 by $0.30. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The company had revenue of $57.25 billion for the quarter, compared to analysts’ expectations of $56.59 billion. During the same period last year, the firm earned $5.41 EPS. The Cigna Group’s revenue for the quarter was up 23.2% compared to the same quarter last year. Sell-side analysts forecast that The Cigna Group will post 28.47 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

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

Insiders Place Their Bets

In other The Cigna Group news, CEO David Cordani sold 31,209 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $355.17, for a total value of $11,084,500.53. Following the completion of the sale, the chief executive officer now owns 348,054 shares in the company, valued at approximately $123,618,339.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO David Cordani sold 31,209 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $355.17, for a total transaction of $11,084,500.53. Following the completion of the transaction, the chief executive officer now owns 348,054 shares in the company, valued at $123,618,339.18. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Elder Granger sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $338.08, for a total value of $338,080.00. Following the transaction, the director now owns 5,471 shares of the company’s stock, valued at approximately $1,849,635.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,193 shares of company stock worth $19,475,326. Corporate insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CI. Robert W. Baird began coverage on The Cigna Group in a research report on Thursday, May 30th. They issued an “outperform” rating and a $388.00 price objective on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $392.00 price objective (up from $382.00) on shares of The Cigna Group in a research report on Monday, March 4th. Baird R W raised The Cigna Group to a “strong-buy” rating in a research report on Thursday, May 30th. Barclays began coverage on The Cigna Group in a research report on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 price objective on the stock. Finally, Oppenheimer upped their price objective on The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, The Cigna Group presently has an average rating of “Buy” and an average target price of $373.87.

The Cigna Group 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.