Coldstream Capital Management Inc. Makes New Investment in The Cigna Group (NYSE:CI)

Coldstream Capital Management Inc. bought a new position in shares of The Cigna Group (NYSE:CI – Get Rating) in the fourth quarter, HoldingsChannel.com reports. The firm bought 5,044 shares of the health services provider’s stock, valued at approximately $1,671,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Axiom Financial Strategies LLC acquired a new position in shares of The Cigna Group during the first quarter valued at about $212,000. Fairfield Bush & CO. acquired a new position in shares of The Cigna Group during the first quarter valued at about $40,000. Cibc World Market Inc. raised its position in shares of The Cigna Group by 52.6% during the first quarter. Cibc World Market Inc. now owns 18,975 shares of the health services provider’s stock valued at $4,547,000 after buying an additional 6,538 shares during the last quarter. Vontobel Holding Ltd. raised its position in shares of The Cigna Group by 6.5% during the first quarter. Vontobel Holding Ltd. now owns 9,212 shares of the health services provider’s stock valued at $2,265,000 after buying an additional 566 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its position in shares of The Cigna Group by 36.5% during the first quarter. Sequoia Financial Advisors LLC now owns 1,283 shares of the health services provider’s stock valued at $307,000 after buying an additional 343 shares during the last quarter. Institutional investors and hedge funds own 87.61% of the company’s stock.

The Cigna Group Price Performance

CI opened at $269.45 on Friday. The Cigna Group has a one year low of $238.48 and a one year high of $340.11. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.70 and a quick ratio of 0.70. The company’s 50 day simple moving average is $296.46 and its 200-day simple moving average is $304.55. The stock has a market capitalization of $80.04 billion, a P/E ratio of 12.60, a price-to-earnings-growth ratio of 0.97 and a beta of 0.67.

The Cigna Group (NYSE:CI – Get Rating) last announced its quarterly earnings data on Friday, February 3rd. The health services provider reported $4.96 earnings per share for the quarter, beating the consensus estimate of $4.84 by $0.12. The Cigna Group had a net margin of 3.69% and a return on equity of 16.01%. The business had revenue of $45.75 billion for the quarter, compared to analyst estimates of $45.79 billion. During the same period in the prior year, the business posted $4.77 earnings per share. The Cigna Group’s revenue was up .1% compared to the same quarter last year. Sell-side analysts anticipate that The Cigna Group will post 24.92 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 23rd. Investors of record on Wednesday, March 8th will be issued a $1.23 dividend. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.12. This represents a $4.92 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend is Tuesday, March 7th. The Cigna Group’s dividend payout ratio is currently 23.01%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. cut their price objective on shares of The Cigna Group from $378.00 to $370.00 and set an “overweight” rating for the company in a research report on Thursday, February 23rd. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Stephens reissued an “overweight” rating and issued a $370.00 price target on shares of The Cigna Group in a research report on Tuesday, February 28th. Raymond James decreased their price objective on shares of The Cigna Group from $370.00 to $350.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 7th. Finally, SVB Leerink upped their price objective on shares of The Cigna Group from $309.00 to $335.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 8th. Seven analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $339.00.

Insider Activity at The Cigna Group

In related news, CEO David Cordani sold 20,148 shares of the stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $294.06, for a total value of $5,924,720.88. Following the transaction, the chief executive officer now directly owns 120,496 shares in the company, valued at $35,433,053.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other The Cigna Group news, CEO David Cordani sold 20,148 shares of the stock in a transaction on Monday, February 27th. The shares were sold at an average price of $294.06, for a total value of $5,924,720.88. Following the sale, the chief executive officer now directly owns 120,496 shares in the company, valued at $35,433,053.76. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Donna F. Zarcone sold 2,088 shares of the stock in a transaction on Friday, March 10th. The stock was sold at an average price of $271.67, for a total transaction of $567,246.96. Following the completion of the sale, the director now owns 25,550 shares in the company, valued at $6,941,168.50. The disclosure for this sale can be found here. Insiders have sold 27,752 shares of company stock worth $8,008,479 over the last ninety days. Company insiders own 0.80% of the company’s stock.

About The Cigna Group

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The Cigna Group is engaged in the provision of global health services. It operates through the following segments: Evernorth, U.S. Medical, International Markets, and Group Disability and Other. The Evernorth segment includes a broad range of coordinated and point solution health services, including pharmacy solutions, benefits management solutions, care solutions and intelligence solutions.