Ensign Peak Advisors Inc increased its position in The Cigna Group (NYSE:CI - Free Report) by 17.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 400,921 shares of the health services provider's stock after acquiring an additional 59,587 shares during the period. Ensign Peak Advisors Inc owned approximately 0.14% of The Cigna Group worth $110,710,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CI. Norges Bank purchased a new position in shares of The Cigna Group in the 4th quarter valued at about $867,785,000. T. Rowe Price Investment Management Inc. purchased a new stake in The Cigna Group during the 4th quarter worth approximately $724,517,000. Raymond James Financial Inc. purchased a new stake in The Cigna Group during the 4th quarter worth approximately $313,911,000. GQG Partners LLC increased its stake in The Cigna Group by 22.4% during 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 buying an additional 737,099 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in 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. Hedge funds and other institutional investors own 86.99% of the company's stock.
Wall Street Analyst Weigh In
Several research firms have commented on CI. Guggenheim reiterated a "buy" rating and set a $388.00 price objective (up from $384.00) on shares of The Cigna Group in a research note on Monday, May 5th. Wells Fargo & Company cut their price objective on The Cigna Group from $370.00 to $341.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 4th. 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 note on Monday, February 3rd. Piper Sandler boosted their target price on The Cigna Group from $348.00 to $374.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Finally, Oppenheimer lowered their target price on The Cigna Group from $400.00 to $375.00 and set an "outperform" rating on the stock in a report on Friday, January 31st. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $379.33.
Read Our Latest Report on The Cigna Group
The Cigna Group Trading Down 4.4%
NYSE CI traded down $13.84 on Tuesday, reaching $301.90. The stock had a trading volume of 3,074,512 shares, compared to its average volume of 1,709,886. The firm has a market capitalization of $80.65 billion, a price-to-earnings ratio of 24.67, a P/E/G ratio of 0.98 and a beta of 0.47. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The stock has a fifty day moving average price of $325.94 and a two-hundred day moving average price of $310.00.
The Cigna Group (NYSE:CI - Get Free Report) last announced 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 company had revenue of $65.45 billion for the quarter, compared to analyst estimates of $60.39 billion. The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. The firm's quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $6.47 earnings per share. As a group, sell-side analysts forecast that The Cigna Group will post 29.77 EPS for the current fiscal year.
The Cigna Group Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Tuesday, June 3rd. The Cigna Group's dividend payout ratio is currently 33.44%.
Insider Transactions at The Cigna Group
In other news, CEO David Cordani sold 26,527 shares of the company's stock in a transaction on 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 of the company's stock, valued at approximately $39,367,568.04. This represents a 17.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Noelle K. Eder sold 9,944 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $320.00, for a total value of $3,182,080.00. Following the completion of the transaction, the insider now directly owns 13,406 shares in the company, valued at $4,289,920. This trade represents a 42.59% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,751 shares of company stock valued at $13,603,991. 0.70% of the stock is currently owned by company insiders.
About The Cigna Group
(
Free Report)
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.
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