Colrain Capital LLC Acquires Shares of 8,250 The Cigna Group (NYSE:CI)

Colrain Capital LLC bought a new position 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 8,250 shares of the health services provider’s stock, valued at approximately $2,278,000. The Cigna Group makes up approximately 2.2% of Colrain Capital LLC’s investment portfolio, making the stock its 19th largest position.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Geode Capital Management LLC grew its stake in The Cigna Group by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 5,855,443 shares of the health services provider’s stock valued at $2,021,563,000 after buying an additional 22,408 shares in the last quarter. GQG Partners LLC grew its position in shares of The Cigna Group by 22.4% in the fourth quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider’s stock valued at $1,110,520,000 after purchasing an additional 737,099 shares in the last quarter. Norges Bank bought a new stake in shares of The Cigna Group during the 4th quarter valued at $867,785,000. Amundi lifted its holdings in The Cigna Group by 19.9% during the 4th quarter. Amundi now owns 2,254,050 shares of the health services provider’s stock worth $628,579,000 after purchasing an additional 374,865 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in The Cigna Group by 3.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,977,758 shares of the health services provider’s stock worth $546,138,000 after purchasing an additional 64,138 shares during the period. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Price Performance

CI opened at $324.97 on Monday. 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 stock’s 50 day simple moving average is $304.67 and its 200 day simple moving average is $313.47. The firm has a market cap of $88.94 billion, a price-to-earnings ratio of 26.55, a PEG ratio of 0.98 and a beta of 0.53. The Cigna Group has a 1 year low of $262.03 and a 1 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same quarter in the prior year, the firm posted $6.79 earnings per share. As a group, analysts predict that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were paid a $1.51 dividend. The ex-dividend date was Wednesday, March 5th. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a dividend yield of 1.86%. The Cigna Group’s dividend payout ratio (DPR) is presently 49.35%.

Wall Street Analyst Weigh In

CI has been the subject of a number of analyst reports. Wells Fargo & Company cut their price objective on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. UBS Group reduced their price target on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Stephens dropped their price objective on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Oppenheimer reduced their target price on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a research report on Friday, January 31st. Finally, Morgan Stanley lowered their price target on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, The Cigna Group presently has a consensus rating of “Buy” and an average target price of $373.25.

Insider Activity at The Cigna Group

In other news, insider Nicole S. Jones sold 4,904 shares of The Cigna Group stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the sale, the insider now owns 29,421 shares of the company’s stock, valued at approximately $9,065,198.52. The trade was a 14.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Elder Granger sold 2,376 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $310.35, for a total transaction of $737,391.60. Following the completion of the transaction, the director now directly owns 5,471 shares of the company’s stock, valued at approximately $1,697,924.85. The trade was a 30.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,751 shares of company stock worth $13,603,991 in the last 90 days. Company insiders own 0.70% of the company’s stock.

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.