Callan Family Office LLC Makes New $2.60 Million Investment in The Cigna Group (NYSE:CI)

Callan Family Office LLC bought a new position in shares of The Cigna Group (NYSE:CI) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 9,412 shares of the health services provider’s stock, valued at approximately $2,599,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CI. Sterling Financial Group Inc. acquired a new stake in shares of The Cigna Group during the fourth quarter worth about $4,367,000. Principal Financial Group Inc. raised its position in shares of The Cigna Group by 3.6% during the third quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider’s stock worth $112,216,000 after purchasing an additional 11,228 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. raised its position in shares of The Cigna Group by 1.1% during the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider’s stock worth $20,942,000 after purchasing an additional 858 shares during the period. Valley Wealth Managers Inc. raised its position in shares of The Cigna Group by 2.8% during the fourth quarter. Valley Wealth Managers Inc. now owns 56,933 shares of the health services provider’s stock worth $15,721,000 after purchasing an additional 1,548 shares during the period. Finally, Pine Valley Investments Ltd Liability Co raised its position in The Cigna Group by 28.3% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 15,713 shares of the health services provider’s stock valued at $5,444,000 after buying an additional 3,466 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

Insider Transactions at The Cigna Group

In other news, insider Nicole S. Jones sold 4,904 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the completion of the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David Cordani sold 26,527 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $8,173,499.24. Following the transaction, the chief executive officer now directly owns 127,767 shares of the company’s stock, valued at $39,367,568.04. This trade represents a 17.19 % decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is owned by insiders.

The Cigna Group Price Performance

Shares of NYSE CI opened at $321.48 on Friday. The stock has a market capitalization of $89.42 billion, a PE ratio of 26.26, a P/E/G ratio of 0.98 and a beta of 0.54. 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 business has a fifty day moving average price of $292.84 and a two-hundred day moving average price of $317.89. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same period last year, the firm earned $6.79 earnings per share. As a group, equities analysts predict that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $1.51 per share. The ex-dividend date is Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.88%. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s payout ratio is 49.35%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company dropped their target price on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Barclays dropped their target price on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Truist Financial dropped their target price on The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. Cantor Fitzgerald dropped their target price on The Cigna Group from $400.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Finally, 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 note on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $372.31.

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.