McIlrath & Eck LLC Has $134,000 Stock Holdings in The Cigna Group (NYSE:CI)

McIlrath & Eck LLC lifted its holdings in The Cigna Group (NYSE:CI) by 268.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 487 shares of the health services provider’s stock after buying an additional 355 shares during the quarter. McIlrath & Eck LLC’s holdings in The Cigna Group were worth $134,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CI. Massachusetts Financial Services Co. MA increased its position in The Cigna Group by 4.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 11,556,278 shares of the health services provider’s stock worth $3,191,151,000 after purchasing an additional 501,320 shares during the period. Sanders Capital LLC boosted its stake in shares of The Cigna Group by 2.0% in the 4th quarter. Sanders Capital LLC now owns 8,054,959 shares of the health services provider’s stock valued at $2,224,296,000 after purchasing an additional 154,420 shares during the last quarter. Geode Capital Management LLC grew its position in shares of The Cigna Group by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 5,957,180 shares of the health services provider’s stock worth $1,640,878,000 after buying an additional 101,737 shares during the period. GQG Partners LLC raised its stake in shares of The Cigna Group by 22.4% during the fourth quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider’s stock worth $1,110,520,000 after buying an additional 737,099 shares during the last quarter. Finally, Norges Bank acquired a new position in The Cigna Group in the fourth quarter valued at approximately $867,785,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Stock Performance

Shares of CI opened at $324.75 on Wednesday. The company has a market cap of $86.75 billion, a PE ratio of 26.53, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47. The firm has a 50-day moving average of $325.48 and a 200-day moving average of $310.02. The Cigna Group has a one year low of $262.03 and a one year high of $370.83. 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 Cigna Group (NYSE:CI) last announced its quarterly earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share for the quarter, topping analysts’ consensus estimates of $6.35 by $0.39. The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. The firm had revenue of $65.45 billion for the quarter, compared to the consensus estimate of $60.39 billion. During the same quarter in the previous year, the business earned $6.47 earnings per share. The business’s revenue was up 14.4% compared to the same quarter last year. As a group, equities analysts forecast that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.86%. The ex-dividend date is Tuesday, June 3rd. The Cigna Group’s dividend payout ratio is 33.44%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wells Fargo & Company dropped their target price 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. Barclays increased their target price on The Cigna Group from $339.00 to $382.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. Stephens reduced their target price on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Guggenheim reaffirmed a “buy” rating and issued a $388.00 price target (up from $384.00) on shares of The Cigna Group in a research note on Monday, May 5th. Finally, Morgan Stanley increased their price target on shares of The Cigna Group from $379.00 to $390.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, The Cigna Group currently has a consensus rating of “Buy” and an average price target of $379.33.

Insiders Place Their Bets

In other The Cigna Group news, insider Noelle K. Eder sold 9,944 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the transaction, the insider now owns 13,406 shares in the company, valued at $4,289,920. This trade represents a 42.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Nicole S. Jones sold 4,904 shares of the business’s 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 completion of the sale, the insider now directly 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 disclosure for this sale can be found here. Insiders sold a total of 43,751 shares of company stock valued at $13,603,991 over the last ninety days. 0.70% of the stock is currently owned by company insiders.

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.