Perbak Capital Partners LLP Has $566,000 Position in The Cigna Group (NYSE:CI)

Perbak Capital Partners LLP reduced its holdings in The Cigna Group (NYSE:CI) by 80.2% in the 4th quarter, HoldingsChannel reports. The fund owned 2,051 shares of the health services provider’s stock after selling 8,289 shares during the period. Perbak Capital Partners LLP’s holdings in The Cigna Group were worth $566,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Sterling Financial Group Inc. bought a new stake in shares of The Cigna Group in the 4th quarter valued at $4,367,000. Principal Financial Group Inc. raised its stake in The Cigna Group by 3.6% during the 3rd quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider’s stock worth $112,216,000 after buying an additional 11,228 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. grew its stake in The Cigna Group by 1.1% in the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider’s stock valued at $20,942,000 after acquiring an additional 858 shares during the period. Valley Wealth Managers Inc. increased its holdings 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 valued at $15,721,000 after acquiring an additional 1,548 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co grew 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 purchasing an additional 3,466 shares during the period. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Price Performance

CI stock opened at $335.09 on Tuesday. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. 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 market capitalization of $91.71 billion, a price-to-earnings ratio of 27.38, a PEG ratio of 0.98 and a beta of 0.51. The firm has a 50 day moving average price of $320.58 and a 200-day moving average price of $310.05.

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

The Cigna Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be given a $1.51 dividend. The ex-dividend date is Tuesday, June 3rd. This represents a $6.04 annualized dividend and a yield of 1.80%. The Cigna Group’s dividend payout ratio (DPR) is presently 49.35%.

Insider Buying and Selling

In related 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 completion of the sale, the chief executive officer now owns 127,767 shares in the company, 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, insider Nicole S. Jones sold 4,904 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $1,511,020.48. Following the completion of the transaction, the insider now directly owns 29,421 shares in the company, valued at $9,065,198.52. The trade was a 14.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,751 shares of company stock worth $13,603,991. 0.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have weighed in on CI. UBS Group dropped their price objective on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Piper Sandler restated an “overweight” rating and set a $348.00 price objective (down previously from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Raymond James restated a “strong-buy” rating and issued a $360.00 target price (down from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 8th. Finally, Barclays decreased 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 report on Friday, January 31st. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $373.56.

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.