Hillsdale Investment Management Inc. Boosts Holdings in The Cigna Group (NYSE:CI)

Hillsdale Investment Management Inc. increased its position in shares of The Cigna Group (NYSE:CI) by 4.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,390 shares of the health services provider’s stock after buying an additional 100 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in The Cigna Group were worth $660,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in The Cigna Group during the fourth quarter worth about $313,911,000. Amundi boosted its position in shares of The Cigna Group by 19.9% during the 4th quarter. Amundi now owns 2,254,050 shares of the health services provider’s stock worth $628,579,000 after purchasing an additional 374,865 shares during the period. Swedbank AB increased its holdings in The Cigna Group by 55.1% in the 4th quarter. Swedbank AB now owns 884,406 shares of the health services provider’s stock valued at $244,220,000 after purchasing an additional 314,123 shares during the last quarter. FMR LLC raised its position in The Cigna Group by 2.0% in the third quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock valued at $4,929,978,000 after purchasing an additional 279,880 shares during the period. Finally, Proficio Capital Partners LLC lifted its stake in The Cigna Group by 34,280.8% during the fourth quarter. Proficio Capital Partners LLC now owns 238,603 shares of the health services provider’s stock worth $65,888,000 after purchasing an additional 237,909 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Stock Up 1.3 %

CI stock opened at $320.79 on Tuesday. The stock has a market cap of $87.79 billion, a P/E ratio of 26.21, 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 twelve month low of $262.03 and a twelve month high of $370.83. The company’s 50 day moving average is $301.62 and its two-hundred day moving average is $314.45.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results 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 last year, the business earned $6.79 EPS. Research analysts expect that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

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

Insider Activity

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 completion of the sale, the chief executive officer now owns 127,767 shares in the company, valued at approximately $39,367,568.04. This represents a 17.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Elder Granger sold 2,376 shares of the business’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $310.35, for a total value of $737,391.60. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,751 shares of company stock valued at $13,603,991. 0.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently issued reports on CI. Sanford C. Bernstein downgraded The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective on the stock. in a report on Thursday, February 6th. Raymond James reissued a “strong-buy” rating and set a $360.00 price target (down previously from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Oppenheimer dropped their price objective on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a report on Friday, January 31st. Cantor Fitzgerald increased their target price on shares of The Cigna Group from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Thursday, March 20th. Finally, UBS Group decreased their price target on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $373.25.

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.