SouthState Corp Purchases 2,974 Shares of The Cigna Group (NYSE:CI)

SouthState Corp boosted its position in shares of The Cigna Group (NYSE:CI) by 594.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,474 shares of the health services provider’s stock after purchasing an additional 2,974 shares during the period. SouthState Corp’s holdings in The Cigna Group were worth $1,040,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Bogart Wealth LLC grew its holdings in The Cigna Group by 104.5% during the 3rd quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock worth $26,000 after acquiring an additional 46 shares during the last quarter. OFI Invest Asset Management bought a new position in The Cigna Group in the 3rd quarter worth approximately $26,000. Fortitude Family Office LLC acquired a new position in The Cigna Group during the 4th quarter worth $29,000. VisionPoint Advisory Group LLC boosted its position in The Cigna Group by 112.2% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock valued at $30,000 after buying an additional 55 shares during the last quarter. Finally, Pacifica Partners Inc. increased its stake in shares of The Cigna Group by 73.2% in the 4th quarter. Pacifica Partners Inc. now owns 142 shares of the health services provider’s stock valued at $43,000 after buying an additional 60 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analyst Ratings Changes

CI has been the topic of several recent research reports. Mizuho raised their price target on The Cigna Group from $360.00 to $370.00 and gave the company a “buy” rating in a report on Monday, February 5th. Wells Fargo & Company boosted their price target on shares of The Cigna Group from $334.00 to $348.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 6th. Sanford C. Bernstein upgraded shares of The Cigna Group from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $330.00 to $372.00 in a report on Thursday, January 4th. Cantor Fitzgerald lifted their target price on shares of The Cigna Group from $384.00 to $400.00 and gave the stock an “overweight” rating in a report on Friday. Finally, StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 14th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, The Cigna Group currently has a consensus rating of “Buy” and a consensus target price of $366.14.

Insider Buying and Selling at The Cigna Group

In related news, CEO David Cordani sold 38,065 shares of the firm’s stock in a transaction dated 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 directly owns 329,321 shares in the company, valued at approximately $110,394,985.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other The Cigna Group news, insider Eric P. Palmer sold 6,083 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $340.00, for a total transaction of $2,068,220.00. Following the completion of the sale, the insider now directly owns 44,649 shares in the company, valued at $15,180,660. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $12,760,149.30. Following the completion of the transaction, the chief executive officer now directly owns 329,321 shares in the company, valued at approximately $110,394,985.62. The disclosure for this sale can be found here. Insiders sold a total of 114,144 shares of company stock worth $39,296,330 over the last quarter. 0.60% of the stock is currently owned by insiders.

The Cigna Group Stock Down 0.9 %

Shares of NYSE CI traded down $3.05 during mid-day trading on Friday, reaching $341.45. 2,413,542 shares of the company’s stock were exchanged, compared to its average volume of 1,593,263. 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 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $99.83 billion, a price-to-earnings ratio of 19.64, a PEG ratio of 1.09 and a beta of 0.57. The business has a fifty day simple moving average of $350.82 and a 200 day simple moving average of $319.39.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, topping the consensus estimate of $6.17 by $0.30. The Cigna Group had a net margin of 2.64% and a return on equity of 13.59%. The firm had revenue of $57.25 billion for the quarter, compared to the consensus estimate of $56.59 billion. During the same period last year, the company posted $5.41 EPS. The business’s quarterly revenue was up 23.2% on a year-over-year basis. As a group, equities analysts expect that The Cigna Group will post 28.36 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date is Tuesday, June 4th. The Cigna Group’s dividend payout ratio is currently 32.20%.

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.