Summit Investment Advisors Inc. Has $748,000 Holdings in The Cigna Group (NYSE:CI)

Summit Investment Advisors Inc. reduced its stake in shares of The Cigna Group (NYSE:CI) by 4.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,710 shares of the health services provider’s stock after selling 122 shares during the period. Summit Investment Advisors Inc.’s holdings in The Cigna Group were worth $748,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Norges Bank purchased a new stake in The Cigna Group in the 4th quarter valued at $867,785,000. Raymond James Financial Inc. bought a new position in shares of The Cigna Group during the fourth quarter valued at about $313,911,000. GQG Partners LLC grew its position in The Cigna Group by 22.4% in the 4th quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider’s stock worth $1,110,520,000 after purchasing an additional 737,099 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of The Cigna Group by 4.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 11,556,278 shares of the health services provider’s stock worth $3,191,151,000 after buying an additional 501,320 shares in the last quarter. Finally, Amundi boosted its stake in shares of The Cigna Group by 19.9% in the 4th quarter. Amundi now owns 2,254,050 shares of the health services provider’s stock worth $628,579,000 after buying an additional 374,865 shares during the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, CEO David Cordani sold 26,527 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was 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 owns 127,767 shares in the company, valued at $39,367,568.04. This trade represents a 17.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Nicole S. Jones sold 4,904 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 value of $1,511,020.48. Following the transaction, the insider now owns 29,421 shares in the company, valued at $9,065,198.52. This trade represents a 14.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,751 shares of company stock worth $13,603,991 over the last three months. 0.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

CI has been the topic of several research analyst reports. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 8th. Cantor Fitzgerald raised their price objective 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. Truist Financial boosted their target price on shares of The Cigna Group from $375.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, April 11th. Guggenheim initiated coverage on The Cigna Group in a research note on Wednesday, April 9th. They issued a “buy” rating and a $384.00 price objective on the stock. Finally, Robert W. Baird lowered their target price on The Cigna Group from $388.00 to $362.00 and set an “outperform” rating on the stock in a research note on Tuesday. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $373.56.

The Cigna Group Stock Up 0.2 %

Shares of NYSE:CI opened at $329.97 on Friday. The company has a market cap of $90.30 billion, a price-to-earnings ratio of 26.96, a PEG ratio of 0.98 and a beta of 0.51. The Cigna Group has a one year low of $262.03 and a one year high of $370.83. The firm has a fifty day moving average price of $315.18 and a two-hundred day moving average price of $311.07. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing the consensus estimate 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 period in the prior year, the business posted $6.79 EPS. Analysts anticipate that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors 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. This represents a $6.04 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date of this dividend was Wednesday, March 5th. The Cigna Group’s dividend payout ratio (DPR) is currently 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.