Cairn Investment Group Inc. Has $4.97 Million Position in The Cigna Group (NYSE:CI)

Cairn Investment Group Inc. lessened its position in The Cigna Group (NYSE:CI) by 1.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,683 shares of the health services provider’s stock after selling 165 shares during the period. The Cigna Group accounts for 2.9% of Cairn Investment Group Inc.’s investment portfolio, making the stock its 10th biggest position. Cairn Investment Group Inc.’s holdings in The Cigna Group were worth $4,970,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. LPL Financial LLC raised its holdings in The Cigna Group by 5.9% in the third quarter. LPL Financial LLC now owns 124,311 shares of the health services provider’s stock worth $35,562,000 after buying an additional 6,957 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its position in The Cigna Group by 13.5% during the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,441 shares of the health services provider’s stock valued at $984,000 after purchasing an additional 410 shares during the last quarter. Operose Advisors LLC bought a new position in The Cigna Group during the third quarter valued at $115,000. Valley National Advisers Inc. raised its stake in shares of The Cigna Group by 50.3% in the third quarter. Valley National Advisers Inc. now owns 1,010 shares of the health services provider’s stock valued at $289,000 after acquiring an additional 338 shares during the period. Finally, Samalin Investment Counsel LLC lifted its holdings in The Cigna Group by 7.5% during the 3rd quarter. Samalin Investment Counsel LLC now owns 1,147 shares of the health services provider’s stock valued at $328,000 after buying an additional 80 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

Insider Transactions at The Cigna Group

In related news, insider Noelle K. Eder sold 10,700 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was 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 of the company’s stock, valued at approximately $5,514,189.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $348.71, for a total value of $2,073,429.66. Following the transaction, the senior vice president now directly owns 2,595 shares of the company’s stock, valued at approximately $904,902.45. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Noelle K. Eder sold 10,700 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $348.47, for a total value of $3,728,629.00. Following the completion of 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. In the last quarter, insiders sold 22,988 shares of company stock worth $7,975,726. 0.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CI. Piper Sandler began coverage on shares of The Cigna Group in a research report on Wednesday. They issued an “overweight” rating and a $400.00 price objective on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a research report on Wednesday, June 12th. Barclays initiated coverage on shares of 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. StockNews.com downgraded shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 12th. Finally, Oppenheimer boosted their target price on shares of The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $376.20.

The Cigna Group Stock Down 0.7 %

The Cigna Group stock traded down $2.41 during mid-day trading on Thursday, hitting $335.17. The company had a trading volume of 207,600 shares, compared to its average volume of 1,605,703. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.75. The stock has a market cap of $95.21 billion, a price-to-earnings ratio of 27.52, a PEG ratio of 1.03 and a beta of 0.53. The business has a fifty day moving average of $341.96 and a 200 day moving average of $332.69. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $365.71.

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 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 during the quarter, compared to the consensus estimate of $56.59 billion. During the same quarter last year, the company earned $5.41 earnings per share. The Cigna Group’s quarterly revenue was up 23.2% compared to the same quarter last year. On average, sell-side analysts expect that The Cigna Group will post 28.47 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th were issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend was Tuesday, June 4th. The Cigna Group’s payout ratio is currently 45.98%.

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.