GF Fund Management CO. LTD. Invests $1.99 Million in The Cigna Group (NYSE:CI)

GF Fund Management CO. LTD. bought a new position in shares of The Cigna Group (NYSE:CI - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 7,212 shares of the health services provider's stock, valued at approximately $1,992,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. acquired a new position in The Cigna Group in the fourth quarter valued at about $3,585,000. Vega Investment Solutions bought a new stake in shares of The Cigna Group during the fourth quarter worth about $304,000. Stonebridge Financial Planning Group LLC grew its holdings in shares of The Cigna Group by 5.1% during the fourth quarter. Stonebridge Financial Planning Group LLC now owns 987 shares of the health services provider's stock worth $273,000 after purchasing an additional 48 shares during the last quarter. Vise Technologies Inc. grew its holdings in shares of The Cigna Group by 66.3% during the fourth quarter. Vise Technologies Inc. now owns 4,019 shares of the health services provider's stock worth $1,110,000 after purchasing an additional 1,603 shares during the last quarter. Finally, City National Bank of Florida MSD bought a new stake in shares of The Cigna Group during the fourth quarter worth about $208,000. Institutional investors and hedge funds own 86.99% of the company's stock.

Insider Transactions at The Cigna Group

In related news, insider Nicole S. Jones sold 4,904 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $1,511,020.48. Following the completion of the sale, the insider now directly owns 29,421 shares of the company's stock, valued at approximately $9,065,198.52. This represents a 14.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO David Cordani sold 26,527 shares of the stock in a transaction on 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 of the company's stock, valued at $39,367,568.04. The trade was a 17.19% decrease in their ownership of the stock. 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 ninety days. 0.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Barclays boosted their price target on The Cigna Group from $339.00 to $382.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Wells Fargo & Company reduced their target price on The Cigna Group from $370.00 to $341.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 4th. Sanford C. Bernstein cut The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 target price on the stock. in a report on Thursday, February 6th. Raymond James reiterated a "strong-buy" rating and issued a $360.00 target price (down from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Finally, Royal Bank of Canada set a $355.00 target price 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 given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, The Cigna Group currently has an average rating of "Buy" and a consensus target price of $379.33.

The Cigna Group Trading Up 0.3%

Shares of The Cigna Group stock traded up $0.97 on Thursday, reaching $311.83. 1,745,688 shares of the company's stock were exchanged, compared to its average volume of 1,714,806. The company has a market capitalization of $83.30 billion, a P/E ratio of 25.48, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. The firm's 50-day moving average is $325.02 and its two-hundred day moving average is $309.96. 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 issued its earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share for the quarter, topping analysts' consensus estimates of $6.35 by $0.39. The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. The company had revenue of $65.45 billion for the quarter, compared to analyst estimates of $60.39 billion. During the same period in the prior year, the firm earned $6.47 earnings per share. The Cigna Group's revenue for the quarter was up 14.4% on a year-over-year basis. Sell-side analysts predict 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 given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date is Tuesday, June 3rd. The Cigna Group's payout ratio is 33.44%.

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.