The Cigna Group (NYSE:CI) Stock Holdings Lifted by Red Spruce Capital LLC

Red Spruce Capital LLC lifted its stake in shares of The Cigna Group (NYSE:CI) by 2.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,201 shares of the health services provider’s stock after acquiring an additional 185 shares during the quarter. The Cigna Group accounts for 1.4% of Red Spruce Capital LLC’s portfolio, making the stock its 27th largest holding. Red Spruce Capital LLC’s holdings in The Cigna Group were worth $3,027,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Moody National Bank Trust Division lifted its stake in The Cigna Group by 0.7% in the 1st quarter. Moody National Bank Trust Division now owns 4,587 shares of the health services provider’s stock worth $1,509,000 after acquiring an additional 34 shares in the last quarter. Kesler Norman & Wride LLC increased its holdings in shares of The Cigna Group by 1.8% in the 4th quarter. Kesler Norman & Wride LLC now owns 2,033 shares of the health services provider’s stock valued at $562,000 after purchasing an additional 35 shares during the period. Hudson Edge Investment Partners Inc. lifted its position in shares of The Cigna Group by 1.9% in the fourth quarter. Hudson Edge Investment Partners Inc. now owns 1,883 shares of the health services provider’s stock worth $520,000 after purchasing an additional 36 shares in the last quarter. Meridian Wealth Management LLC lifted its position in shares of The Cigna Group by 1.0% in the fourth quarter. Meridian Wealth Management LLC now owns 3,670 shares of the health services provider’s stock worth $1,013,000 after purchasing an additional 37 shares in the last quarter. Finally, Mindset Wealth Management LLC boosted its holdings in shares of The Cigna Group by 2.6% during the fourth quarter. Mindset Wealth Management LLC now owns 1,469 shares of the health services provider’s stock worth $406,000 after purchasing an additional 37 shares during the period. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other The Cigna Group news, Director Elder Granger sold 2,376 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $310.35, for a total value of $737,391.60. Following the sale, the director now owns 5,471 shares of the company’s stock, valued at $1,697,924.85. This trade represents a 30.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO David Cordani sold 26,527 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $8,173,499.24. Following the transaction, the chief executive officer now owns 127,767 shares of the company’s stock, valued at approximately $39,367,568.04. This trade represents a 17.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 43,751 shares of company stock valued at $13,603,991. Company insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CI. Cowen reiterated a “buy” rating on shares of The Cigna Group in a research note on Monday, May 5th. Stephens lowered their price target on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Oppenheimer cut their price objective on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a report on Friday, January 31st. Sanford C. Bernstein cut The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective for the company. in a research report on Thursday, February 6th. Finally, Cantor Fitzgerald boosted their target price on The Cigna Group from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $379.33.

The Cigna Group Stock Performance

CI opened at $311.83 on Friday. 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 company has a market cap of $83.30 billion, a PE ratio of 25.48, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47. The stock has a 50-day moving average of $324.84 and a 200-day moving average of $309.75. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83.

The Cigna Group (NYSE:CI) last posted its earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share for the quarter, topping the consensus estimate of $6.35 by $0.39. The firm had revenue of $65.45 billion during the quarter, compared to analyst estimates of $60.39 billion. The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. The company’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same period in the previous year, the company earned $6.47 EPS. As a group, equities research analysts forecast that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be paid a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend is Tuesday, June 3rd. The Cigna Group’s payout ratio is 33.44%.

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.