Van ECK Associates Corp Purchases 108 Shares of The Cigna Group (NYSE:CI)

Van ECK Associates Corp raised its holdings in The Cigna Group (NYSE:CI) by 0.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,376 shares of the health services provider’s stock after acquiring an additional 108 shares during the period. Van ECK Associates Corp’s holdings in The Cigna Group were worth $4,305,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of CI. Bogart Wealth LLC grew its stake in shares of The Cigna Group by 104.5% in the third quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock worth $26,000 after purchasing an additional 46 shares during the last quarter. OFI Invest Asset Management bought a new stake in The Cigna Group during the third quarter worth about $26,000. Fortitude Family Office LLC purchased a new stake in shares of The Cigna Group in the 4th quarter worth approximately $29,000. VisionPoint Advisory Group LLC increased its holdings in shares of The Cigna Group by 112.2% during the third quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock valued at $30,000 after acquiring an additional 55 shares in the last quarter. Finally, Pacifica Partners Inc. raised its holdings in The Cigna Group by 73.2% in the fourth quarter. Pacifica Partners Inc. now owns 142 shares of the health services provider’s stock worth $43,000 after buying an additional 60 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors.

The Cigna Group Price Performance

Shares of CI opened at $341.50 on Monday. The firm’s fifty day simple moving average is $350.77 and its 200-day simple moving average is $319.71. The firm has a market capitalization of $99.84 billion, a price-to-earnings ratio of 28.04, a PEG ratio of 1.05 and a beta of 0.57. The Cigna Group has a twelve month low of $240.50 and a twelve month high of $365.71. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 0.75.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share for the quarter, topping the consensus estimate of $6.17 by $0.30. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The firm had revenue of $57.25 billion during the quarter, compared to the consensus estimate of $56.59 billion. During the same period last year, the company earned $5.41 earnings per share. The company’s revenue for the quarter was up 23.2% on a year-over-year basis. Equities analysts forecast that The Cigna Group will post 28.45 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Tuesday, June 4th will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.64%. The ex-dividend date is Tuesday, June 4th. The Cigna Group’s payout ratio is 45.98%.

Analysts Set New Price Targets

A number of brokerages have weighed in on CI. Morgan Stanley reiterated an “overweight” rating and set a $392.00 target price (up from $382.00) on shares of The Cigna Group in a research note on Monday, March 4th. Mizuho lifted their price target on shares of The Cigna Group from $360.00 to $370.00 and gave the company a “buy” rating in a report on Monday, February 5th. Cantor Fitzgerald raised their target price on shares of The Cigna Group from $384.00 to $400.00 and gave the company an “overweight” rating in a report on Friday. Wells Fargo & Company boosted their target price on The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. Finally, Deutsche Bank Aktiengesellschaft upgraded The Cigna Group from a “hold” rating to a “buy” rating and increased their target price for the stock from $355.00 to $370.00 in a research note on Thursday, February 1st. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $366.14.

Insider Activity at The Cigna Group

In related news, CEO David Cordani sold 38,065 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $335.22, for a total transaction of $12,760,149.30. Following the completion of the transaction, the chief executive officer now owns 329,321 shares of the company’s stock, valued at $110,394,985.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other The Cigna Group news, CEO David Cordani sold 38,065 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $335.22, for a total value of $12,760,149.30. Following the completion of the sale, the chief executive officer now owns 329,321 shares of the company’s stock, valued at $110,394,985.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Eric P. Palmer sold 1,017 shares of The Cigna Group stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $335.26, for a total value of $340,959.42. Following the sale, the insider now directly owns 45,564 shares in the company, valued at $15,275,786.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 114,144 shares of company stock valued at $39,296,330. Company insiders own 0.60% of the company’s stock.

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.