Horizon Investments LLC Buys 93 Shares of The Cigna Group (NYSE:CI)

Horizon Investments LLC lifted its stake in The Cigna Group (NYSE:CI) by 2.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,850 shares of the health services provider’s stock after buying an additional 93 shares during the quarter. Horizon Investments LLC’s holdings in The Cigna Group were worth $1,339,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Sterling Financial Group Inc. purchased a new position in The Cigna Group during the fourth quarter valued at approximately $4,367,000. Principal Financial Group Inc. lifted its stake in shares of 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 valued at $112,216,000 after buying an additional 11,228 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. boosted its holdings in The Cigna Group by 1.1% in the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider’s stock worth $20,942,000 after buying an additional 858 shares during the period. Valley Wealth Managers Inc. increased its stake in The Cigna Group by 2.8% in the 4th quarter. Valley Wealth Managers Inc. now owns 56,933 shares of the health services provider’s stock worth $15,721,000 after buying an additional 1,548 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co raised its holdings in The Cigna Group by 28.3% during the third 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 acquiring an additional 3,466 shares during the period. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Price Performance

Shares of The Cigna Group stock opened at $320.74 on Thursday. The stock has a market cap of $87.78 billion, a price-to-earnings ratio of 26.20, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53. 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 stock has a 50 day moving average price of $299.23 and a 200-day moving average price of $315.68. The Cigna Group has a one year low of $262.03 and a one year high of $370.83.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 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 quarter in the previous year, the business earned $6.79 EPS. Equities analysts expect that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be given a $1.51 dividend. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date is Wednesday, March 5th. The Cigna Group’s dividend payout ratio is 49.35%.

Insiders Place Their Bets

In other The Cigna Group news, Director Elder Granger sold 2,376 shares of the stock in a transaction 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 in the company, valued at $1,697,924.85. This trade represents a 30.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Nicole S. Jones sold 4,904 shares of the business’s stock in a transaction on 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 sale, the insider now directly owns 29,421 shares of the company’s stock, valued at $9,065,198.52. This represents a 14.29 % decrease in their ownership of the stock. 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 90 days. Insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

CI has been the subject of several research analyst reports. Truist Financial cut their target price on The Cigna Group from $390.00 to $375.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. Sanford C. Bernstein cut shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective on the stock. in a research report on Thursday, February 6th. 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. Royal Bank of Canada set a $355.00 price target on shares of The Cigna Group in a report on Friday, January 31st. Finally, Morgan Stanley cut their price objective on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $372.31.

About The Cigna Group

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.