Xponance Inc. Has $12.24 Million Stock Position in The Cigna Group (NYSE:CI)

Xponance Inc. lifted its stake in shares of The Cigna Group (NYSE:CI) by 4.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 40,888 shares of the health services provider’s stock after purchasing an additional 1,609 shares during the quarter. Xponance Inc.’s holdings in The Cigna Group were worth $12,244,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CI. Bogart Wealth LLC boosted its stake in The Cigna Group by 104.5% in the third quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock valued at $26,000 after buying an additional 46 shares in the last quarter. OFI Invest Asset Management acquired a new stake in The Cigna Group in the third quarter valued at about $26,000. Fairfield Bush & CO. acquired a new stake in The Cigna Group in the second quarter valued at about $28,000. Fortitude Family Office LLC acquired a new stake in The Cigna Group in the fourth quarter valued at about $29,000. Finally, Optimum Investment Advisors boosted its stake in The Cigna Group by 110.0% in the third quarter. Optimum Investment Advisors now owns 105 shares of the health services provider’s stock valued at $30,000 after buying an additional 55 shares in the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Mizuho raised their price objective on The Cigna Group from $360.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, February 5th. Oppenheimer reissued an “outperform” rating and set a $360.00 price target on shares of The Cigna Group in a research note on Wednesday, January 17th. Royal Bank of Canada raised The Cigna Group from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $327.00 to $354.00 in a research note on Monday, February 5th. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 14th. Finally, Sanford C. Bernstein raised The Cigna Group from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $330.00 to $372.00 in a research note on Thursday, January 4th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $362.14.

The Cigna Group Trading Up 0.4 %

CI stock traded up $1.53 during mid-day trading on Friday, reaching $350.31. The company’s stock had a trading volume of 177,231 shares, compared to its average volume of 1,586,734. The company has a market cap of $102.42 billion, a price-to-earnings ratio of 20.06, a price-to-earnings-growth ratio of 1.06 and a beta of 0.56. The business’s 50 day moving average price is $348.06 and its 200 day moving average price is $315.03. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.61. The Cigna Group has a 12 month low of $240.50 and a 12 month high of $365.71.

The Cigna Group (NYSE:CI) last issued its earnings results on Friday, February 2nd. The health services provider reported $6.79 earnings per share for the quarter, topping analysts’ consensus estimates of $6.54 by $0.25. The business had revenue of $51.15 billion during the quarter, compared to the consensus estimate of $48.91 billion. The Cigna Group had a return on equity of 13.59% and a net margin of 2.64%. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the previous year, the company posted $4.96 earnings per share. On average, equities research analysts predict that The Cigna Group will post 28.36 EPS for the current year.

The Cigna Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th were issued a $1.40 dividend. This is an increase from The Cigna Group’s previous quarterly dividend of $1.23. This represents a $5.60 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend was Tuesday, March 5th. The Cigna Group’s payout ratio is presently 32.20%.

Insider Activity at The Cigna Group

In related news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of The Cigna Group stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the transaction, the senior vice president now owns 2,102 shares of the company’s stock, valued at $694,668.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total value of $1,608,446.16. Following the transaction, the senior vice president now owns 2,102 shares of the company’s stock, valued at $694,668.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO David Cordani sold 38,065 shares of the business’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $335.22, for a total value of $12,760,149.30. Following the completion of the transaction, the chief executive officer now directly owns 329,321 shares in the company, valued at approximately $110,394,985.62. The disclosure for this sale can be found here. Insiders have sold a total of 114,144 shares of company stock valued at $39,296,330 over the last 90 days. Insiders own 0.60% of the company’s stock.

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.