Caisse DE Depot ET Placement DU Quebec Has $5.92 Million Position in The Cigna Group (NYSE:CI)

Caisse DE Depot ET Placement DU Quebec reduced its holdings in shares of The Cigna Group (NYSE:CI - Free Report) by 95.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,432 shares of the health services provider's stock after selling 485,867 shares during the period. Caisse DE Depot ET Placement DU Quebec's holdings in The Cigna Group were worth $5,918,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. TCTC Holdings LLC bought a new stake in The Cigna Group in the fourth quarter valued at $25,000. Collier Financial bought a new stake in shares of The Cigna Group in the 4th quarter worth about $32,000. ORG Wealth Partners LLC acquired a new stake in shares of The Cigna Group during the 4th quarter worth about $34,000. Compagnie Lombard Odier SCmA bought a new position in The Cigna Group during the 4th quarter valued at about $37,000. Finally, Transce3nd LLC acquired a new position in The Cigna Group in the fourth quarter valued at about $38,000. Institutional investors own 86.99% of the company's stock.

Insider Activity at The Cigna Group

In related news, Director Elder Granger sold 2,376 shares of the company's stock in a transaction on 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 directly owns 5,471 shares of the company's stock, valued at approximately $1,697,924.85. This represents a 30.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David Cordani sold 26,527 shares of The Cigna Group stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $8,173,499.24. Following the completion of the sale, the chief executive officer now directly owns 127,767 shares in the company, valued at $39,367,568.04. This represents a 17.19 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 43,751 shares of company stock worth $13,603,991. 0.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CI shares. Robert W. Baird cut their target price on shares of The Cigna Group from $388.00 to $362.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. UBS Group cut their price objective on 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. Raymond James restated a "strong-buy" rating and set a $360.00 target price (down previously from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Royal Bank of Canada set a $355.00 price target on The Cigna Group in a report on Friday, January 31st. Finally, Sanford C. Bernstein cut shares of The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 price objective for the company. in a research report on Thursday, February 6th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $378.22.

The Cigna Group Trading Up 0.2 %

CI traded up $0.73 during midday trading on Wednesday, reaching $334.55. 1,325,064 shares of the company were exchanged, compared to its average volume of 1,698,620. The stock has a market capitalization of $91.56 billion, a P/E ratio of 27.33, a PEG ratio of 0.98 and a beta of 0.47. The Cigna Group has a one year low of $262.03 and a one year high of $370.83. The stock's 50-day simple moving average is $324.38 and its 200 day simple moving average is $309.74. 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 released its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $65.45 billion for the quarter, compared to analyst estimates of $60.39 billion. During the same quarter last year, the firm earned $6.47 EPS. The Cigna Group's quarterly revenue was up 14.4% compared to the same quarter last year. As a group, analysts forecast that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 1.81%. The ex-dividend date is Tuesday, June 3rd. The Cigna Group's dividend payout ratio (DPR) is presently 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.