NEOS Investment Management LLC Acquires 3,730 Shares of The Cigna Group (NYSE:CI)

NEOS Investment Management LLC grew its holdings in shares of The Cigna Group (NYSE:CI) by 30.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,054 shares of the health services provider’s stock after acquiring an additional 3,730 shares during the period. NEOS Investment Management LLC’s holdings in The Cigna Group were worth $4,433,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. CreativeOne Wealth LLC raised its stake in The Cigna Group by 3.0% in the third quarter. CreativeOne Wealth LLC now owns 1,219 shares of the health services provider’s stock worth $422,000 after buying an additional 35 shares in the last quarter. Hudson Edge Investment Partners Inc. raised its position in shares of The Cigna Group by 1.9% in the 4th quarter. Hudson Edge Investment Partners Inc. now owns 1,883 shares of the health services provider’s stock worth $520,000 after acquiring an additional 36 shares in the last quarter. Meridian Wealth Management LLC boosted its position in The Cigna Group by 1.0% during the fourth quarter. Meridian Wealth Management LLC now owns 3,670 shares of the health services provider’s stock valued at $1,013,000 after purchasing an additional 37 shares in the last quarter. Mindset Wealth Management LLC grew its stake in The Cigna Group by 2.6% in the fourth quarter. Mindset Wealth Management LLC now owns 1,469 shares of the health services provider’s stock valued at $406,000 after purchasing an additional 37 shares during the last quarter. Finally, Jacobi Capital Management LLC grew its stake in The Cigna Group by 2.2% in the fourth quarter. Jacobi Capital Management LLC now owns 1,749 shares of the health services provider’s stock valued at $483,000 after purchasing an additional 38 shares during the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CI. Oppenheimer lowered their price target on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a report on Friday, January 31st. Royal Bank of Canada set a $355.00 target price on shares of The Cigna Group in a research report on Friday, January 31st. Raymond James reaffirmed a “strong-buy” rating and issued a $360.00 price target (down from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Morgan Stanley decreased their price objective on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Finally, Barclays dropped their target price on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $373.25.

Insider Activity at The Cigna Group

In other news, CEO David Cordani sold 26,527 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the sale, the chief executive officer now directly owns 127,767 shares of the company’s stock, valued at $39,367,568.04. This represents a 17.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Nicole S. Jones sold 4,904 shares of The Cigna Group stock in a transaction dated Monday, March 3rd. The shares were 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 owns 29,421 shares of the company’s stock, valued at approximately $9,065,198.52. This represents a 14.29 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,751 shares of company stock worth $13,603,991. 0.60% of the stock is owned by corporate insiders.

The Cigna Group Stock Performance

Shares of NYSE CI opened at $324.74 on Friday. The company has a 50 day simple moving average of $303.86 and a two-hundred day simple moving average of $314.31. The stock has a market cap of $88.88 billion, a price-to-earnings ratio of 26.53, a PEG ratio of 0.98 and a beta of 0.53. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same quarter last year, the company earned $6.79 EPS. As a group, analysts predict that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were paid a $1.51 dividend. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date was Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.86%. The Cigna Group’s dividend payout ratio is presently 49.35%.

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.