Raiffeisen Bank International AG Makes New $3.89 Million Investment in The Cigna Group (NYSE:CI)

Raiffeisen Bank International AG acquired a new position in shares of The Cigna Group (NYSE:CI - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 14,124 shares of the health services provider's stock, valued at approximately $3,886,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Massachusetts Financial Services Co. MA lifted its position in The Cigna Group by 4.5% in the fourth 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 purchasing an additional 501,320 shares during the period. Sanders Capital LLC lifted its position in The Cigna Group by 2.0% in the fourth quarter. Sanders Capital LLC now owns 8,054,959 shares of the health services provider's stock worth $2,224,296,000 after purchasing an additional 154,420 shares during the period. Geode Capital Management LLC increased its holdings in shares of The Cigna Group by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 5,957,180 shares of the health services provider's stock valued at $1,640,878,000 after buying an additional 101,737 shares in the last quarter. GQG Partners LLC increased its holdings in shares of The Cigna Group by 22.4% in the fourth quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider's stock valued at $1,110,520,000 after buying an additional 737,099 shares in the last quarter. Finally, Norges Bank bought a new position in shares of The Cigna Group in the fourth quarter valued at $867,785,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CI shares. Truist Financial upped their price target on The Cigna Group from $385.00 to $405.00 and gave the company a "buy" rating in a report on Monday, May 12th. Guggenheim reaffirmed a "buy" rating and issued a $388.00 price target (up previously from $384.00) on shares of The Cigna Group in a report on Monday, May 5th. Barclays upped their price target on The Cigna Group from $339.00 to $382.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Mizuho upped their price target on The Cigna Group from $360.00 to $384.00 and gave the company an "outperform" rating in a report on Wednesday, April 9th. Finally, Royal Bank of Canada set a $355.00 price target on The Cigna Group in a report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $379.33.

The Cigna Group Stock Up 0.2%

Shares of The Cigna Group stock traded up $0.76 during trading on Monday, hitting $321.70. 1,242,298 shares of the stock traded hands, compared to its average volume of 1,711,909. The company has a fifty day moving average price of $325.00 and a two-hundred day moving average price of $309.88. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The stock has a market cap of $85.94 billion, a P/E ratio of 26.28, a PEG ratio of 0.98 and a beta of 0.47. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66.

The Cigna Group (NYSE:CI - Get Free Report) last posted its earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.35 by $0.39. The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. The firm had revenue of $65.45 billion during the quarter, compared to analysts' expectations of $60.39 billion. During the same period in the previous year, the company earned $6.47 earnings per share. The company's revenue was up 14.4% compared to the same quarter last year. Equities research analysts predict that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Tuesday, June 3rd. The Cigna Group's payout ratio is 33.44%.

Insiders Place Their Bets

In other news, insider Noelle K. Eder sold 9,944 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the transaction, the insider now owns 13,406 shares of the company's stock, valued at approximately $4,289,920. This represents a 42.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 directly owns 29,421 shares in the company, valued at approximately $9,065,198.52. This represents a 14.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,751 shares of company stock valued at $13,603,991 over the last three months. 0.70% 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.