Horizon Investments LLC Purchases 93 Shares of The Cigna Group (NYSE:CI)

Horizon Investments LLC boosted its holdings in shares of The Cigna Group (NYSE:CI) by 2.0% during the 4th quarter, Holdings Channel reports. The fund owned 4,850 shares of the health services provider’s stock after buying an additional 93 shares during the period. Horizon Investments LLC’s holdings in The Cigna Group were worth $1,339,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CreativeOne Wealth LLC lifted its position in shares of The Cigna Group by 3.0% during the 3rd quarter. CreativeOne Wealth LLC now owns 1,219 shares of the health services provider’s stock valued at $422,000 after buying an additional 35 shares in the last quarter. Hudson Edge Investment Partners Inc. raised its position in The Cigna Group by 1.9% during the fourth quarter. Hudson Edge Investment Partners Inc. now owns 1,883 shares of the health services provider’s stock worth $520,000 after acquiring an additional 36 shares during the period. Meridian Wealth Management LLC lifted its holdings in The Cigna Group by 1.0% during the fourth quarter. Meridian Wealth Management LLC now owns 3,670 shares of the health services provider’s stock valued at $1,013,000 after purchasing an additional 37 shares in the last quarter. Smithfield Trust Co grew its position in shares of The Cigna Group by 3.6% in the third quarter. Smithfield Trust Co now owns 1,080 shares of the health services provider’s stock valued at $373,000 after purchasing an additional 38 shares during the period. Finally, Jacobi Capital Management LLC increased its stake in shares of The Cigna Group by 2.2% during the fourth quarter. Jacobi Capital Management LLC now owns 1,749 shares of the health services provider’s stock worth $483,000 after purchasing an additional 38 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Cantor Fitzgerald lowered their price objective on The Cigna Group from $400.00 to $350.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Raymond James reaffirmed a “strong-buy” rating and issued a $360.00 price target (down from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Piper Sandler reissued an “overweight” rating and issued a $348.00 price objective (down from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Barclays lowered their target price on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Finally, Truist Financial reduced their target price on shares of The Cigna Group from $390.00 to $375.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. Two investment 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 company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $372.31.

Insider Buying and Selling

In other news, CEO David Cordani sold 26,527 shares of the company’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 $8,173,499.24. Following the sale, the chief executive officer now owns 127,767 shares of the company’s stock, valued at approximately $39,367,568.04. This represents a 17.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Elder Granger sold 2,376 shares of The Cigna Group stock in a transaction on Friday, March 14th. The shares were sold at an average price of $310.35, for a total value of $737,391.60. Following the completion of the transaction, the director now owns 5,471 shares of the company’s stock, valued at approximately $1,697,924.85. This trade represents 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 valued at $13,603,991 in the last ninety days. Company insiders own 0.60% of the company’s stock.

The Cigna Group Stock Down 0.5 %

The Cigna Group stock opened at $320.74 on Thursday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The firm has a 50 day moving average price of $299.23 and a 200 day moving average price of $315.68. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The company has a market capitalization of $87.78 billion, a PE ratio of 26.20, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data 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 net margin of 1.39% and a return on equity of 18.61%. During the same period in the previous year, the company posted $6.79 earnings per share. Research analysts expect that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be issued a $1.51 dividend. 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%.

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.