TCG Advisory Services LLC Acquires New Holdings in The Cigna Group (NYSE:CI)

TCG Advisory Services LLC bought a new stake in shares of The Cigna Group (NYSE:CI) in the fourth quarter, HoldingsChannel.com reports. The firm bought 1,811 shares of the health services provider’s stock, valued at approximately $542,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CI. Parnassus Investments LLC purchased a new stake in shares of The Cigna Group in the 3rd quarter worth $731,041,000. FMR LLC increased its position in The Cigna Group by 13.8% in the third quarter. FMR LLC now owns 15,967,363 shares of the health services provider’s stock worth $4,567,783,000 after buying an additional 1,939,554 shares in the last quarter. Cerity Partners LLC raised its stake in shares of The Cigna Group by 1,039.4% in the fourth quarter. Cerity Partners LLC now owns 590,063 shares of the health services provider’s stock worth $176,694,000 after buying an additional 538,274 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of The Cigna Group by 3.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,833,753 shares of the health services provider’s stock valued at $3,385,282,000 after buying an additional 345,605 shares in the last quarter. Finally, Jennison Associates LLC grew its stake in shares of The Cigna Group by 127.3% during the 4th quarter. Jennison Associates LLC now owns 566,233 shares of the health services provider’s stock valued at $169,558,000 after acquiring an additional 317,081 shares during the period. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

The Cigna Group Price Performance

CI traded down $3.00 during trading hours on Friday, hitting $341.50. The company’s stock had a trading volume of 2,413,548 shares, compared to its average volume of 1,380,653. The stock has a market cap of $99.84 billion, a price-to-earnings ratio of 28.04, a P/E/G ratio of 1.05 and a beta of 0.57. The business’s 50-day moving average price is $350.77 and its 200-day moving average price is $319.71. 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 has a 12 month low of $240.50 and a 12 month high of $365.71.

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

The Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th will be issued a $1.40 dividend. 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 (DPR) is 45.98%.

Analyst Upgrades and Downgrades

A number of research firms have commented on CI. Wells Fargo & Company raised their target price 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. Cantor Fitzgerald raised their price target on The Cigna Group from $384.00 to $400.00 and gave the company an “overweight” rating in a report on Friday. Barclays began coverage on The Cigna Group in a research report on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 price objective on the stock. Morgan Stanley reiterated an “overweight” rating and set a $392.00 target price (up previously from $382.00) on shares of The Cigna Group in a research report on Monday, March 4th. Finally, Royal Bank of Canada raised The Cigna Group from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $327.00 to $354.00 in a report on Monday, February 5th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $366.14.

Insider Activity

In related news, CEO David Cordani sold 31,209 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $355.17, for a total value of $11,084,500.53. Following the completion of the sale, the chief executive officer now directly owns 348,054 shares in the company, valued at $123,618,339.18. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Eric P. Palmer sold 1,017 shares of The Cigna Group stock in a transaction on Friday, February 9th. The stock was sold at an average price of $335.26, for a total transaction of $340,959.42. Following the completion of the sale, the insider now directly owns 45,564 shares in the company, valued at $15,275,786.64. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO David Cordani sold 31,209 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $355.17, for a total transaction of $11,084,500.53. Following the sale, the chief executive officer now directly owns 348,054 shares of the company’s stock, valued at $123,618,339.18. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 114,144 shares of company stock valued at $39,296,330. 0.60% of the stock is currently owned by insiders.

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.