Bruni J V & Co. Co. Lowers Stake in The Cigna Group (NYSE:CI)

Bruni J V & Co. Co. reduced its position in The Cigna Group (NYSE:CI) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,355 shares of the health services provider’s stock after selling 395 shares during the quarter. The Cigna Group makes up approximately 4.0% of Bruni J V & Co. Co.’s portfolio, making the stock its 11th biggest position. Bruni J V & Co. Co.’s holdings in The Cigna Group were worth $32,447,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in CI. Bogart Wealth LLC lifted its stake in The Cigna Group by 104.5% during 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 purchased a new stake in shares of The Cigna Group during the 3rd quarter worth approximately $26,000. Fortitude Family Office LLC acquired a new position in shares of The Cigna Group in the 4th quarter valued at $29,000. VisionPoint Advisory Group LLC grew its position in shares of 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. raised its stake in The Cigna Group by 73.2% during the 4th quarter. Pacifica Partners Inc. now owns 142 shares of the health services provider’s stock worth $43,000 after acquiring an additional 60 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CI. Oppenheimer reissued an “outperform” rating and issued a $360.00 target price on shares of The Cigna Group in a report on Wednesday, January 17th. Wells Fargo & Company upped their target price on shares of The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. Barclays assumed coverage on The Cigna Group in a report on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 target price on the stock. Morgan Stanley restated an “overweight” rating and set a $392.00 price objective (up previously from $382.00) on shares of The Cigna Group in a research report on Monday, March 4th. Finally, StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 14th. 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $362.14.

Insider Transactions at The Cigna Group

In related news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the sale, the senior vice president now directly owns 2,102 shares of the company’s stock, valued at approximately $694,668.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total value of $1,608,446.16. Following the transaction, the senior vice president now owns 2,102 shares of the company’s stock, valued at $694,668.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David Cordani sold 38,065 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $335.22, for a total value of $12,760,149.30. Following the transaction, the chief executive officer now owns 329,321 shares of the company’s stock, valued at $110,394,985.62. The disclosure for this sale can be found here. Over the last quarter, insiders sold 114,144 shares of company stock valued at $39,296,330. 0.60% of the stock is currently owned by corporate insiders.

The Cigna Group Trading Down 0.0 %

CI traded down $0.04 on Friday, reaching $354.47. 830,527 shares of the company’s stock were exchanged, compared to its average volume of 1,260,787. The company has a market cap of $103.63 billion, a price-to-earnings ratio of 20.38, a PEG ratio of 1.09 and a beta of 0.56. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.67 and a current ratio of 0.67. The Cigna Group has a twelve month low of $240.50 and a twelve month high of $365.71. The company’s 50 day moving average is $349.88 and its 200-day moving average is $317.98.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Friday, February 2nd. The health services provider reported $6.79 EPS for the quarter, topping the consensus estimate of $6.54 by $0.25. The firm had revenue of $51.15 billion for the quarter, compared to analyst estimates of $48.91 billion. The Cigna Group had a return on equity of 13.59% and a net margin of 2.64%. The Cigna Group’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the previous year, the company posted $4.96 EPS. Equities analysts predict that The Cigna Group will post 28.36 earnings per share for the current year.

The Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Tuesday, June 4th. The Cigna Group’s payout ratio is 32.20%.

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.