Czech National Bank Raises Stock Position in The Cigna Group (NYSE:CI)

Czech National Bank boosted its holdings in The Cigna Group (NYSE:CI - Free Report) by 4.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 62,885 shares of the health services provider's stock after acquiring an additional 2,575 shares during the period. Czech National Bank's holdings in The Cigna Group were worth $20,689,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. TCTC Holdings LLC acquired a new position in shares of The Cigna Group during the fourth quarter valued at approximately $25,000. Collier Financial acquired a new stake in shares of The Cigna Group in the 4th quarter valued at $32,000. Putney Financial Group LLC acquired a new stake in shares of The Cigna Group in the 4th quarter valued at $36,000. Compagnie Lombard Odier SCmA bought a new position in The Cigna Group in the 4th quarter worth $37,000. Finally, Transce3nd LLC bought a new position in The Cigna Group in the 4th quarter worth $38,000. Institutional investors and hedge funds own 86.99% of the company's stock.

Insider Activity at The Cigna Group

In other news, Director Elder Granger sold 2,376 shares of the firm's stock in a transaction that occurred 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 in the company, valued at approximately $1,697,924.85. This trade represents a 30.28% 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 Cigna Group stock in a transaction that occurred on 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 directly owns 13,406 shares in the company, valued at $4,289,920. This trade represents a 42.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.70% of the stock is owned by company insiders.

The Cigna Group Trading Up 0.7%

Shares of NYSE:CI traded up $2.04 during trading on Thursday, reaching $312.16. The stock had a trading volume of 198,204 shares, compared to its average volume of 1,686,214. The firm's fifty day moving average is $324.14 and its 200 day moving average is $309.30. 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 has a 52 week low of $262.03 and a 52 week high of $370.83. The stock has a market cap of $83.39 billion, a price-to-earnings ratio of 25.49, a P/E/G ratio of 0.98 and a beta of 0.47.

The Cigna Group (NYSE:CI - Get Free Report) last released 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 company had revenue of $65.45 billion for the quarter, compared to the consensus estimate of $60.39 billion. During the same quarter in the previous year, the company earned $6.47 EPS. The Cigna Group's quarterly revenue was up 14.4% compared to the same quarter last year. As a group, equities analysts forecast that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be issued a $1.51 dividend. The ex-dividend date is Tuesday, June 3rd. This represents a $6.04 annualized dividend and a dividend yield of 1.93%. The Cigna Group's dividend payout ratio is currently 33.44%.

Wall Street Analyst Weigh In

CI has been the topic of a number of analyst reports. Mizuho upped their target price on shares of The Cigna Group from $360.00 to $384.00 and gave the company an "outperform" rating in a research note on Wednesday, April 9th. Barclays upped their target price on shares of The Cigna Group from $382.00 to $385.00 and gave the company an "overweight" rating in a research note on Monday. Piper Sandler raised their target price on shares of The Cigna Group from $348.00 to $374.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Sanford C. Bernstein downgraded 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. Finally, Truist Financial lifted their price objective on shares of The Cigna Group from $385.00 to $405.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $380.39.

About The Cigna Group

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.