Mackenzie Financial Corp Has $32.31 Million Stock Position in The Cigna Group (NYSE:CI)

Mackenzie Financial Corp lessened its position in The Cigna Group (NYSE:CI - Free Report) by 1.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 117,005 shares of the health services provider's stock after selling 1,988 shares during the quarter. Mackenzie Financial Corp's holdings in The Cigna Group were worth $32,310,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in The Cigna Group in the 4th quarter valued at approximately $867,785,000. T. Rowe Price Investment Management Inc. acquired a new position in The Cigna Group in the 4th quarter valued at approximately $724,517,000. Raymond James Financial Inc. bought a new stake in The Cigna Group in the fourth quarter worth approximately $313,911,000. GQG Partners LLC grew its position in 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 worth $1,110,520,000 after acquiring an additional 737,099 shares in the last quarter. Finally, Two Sigma Advisers LP grew its position in The Cigna Group by 278.0% in the fourth quarter. Two Sigma Advisers LP now owns 816,200 shares of the health services provider's stock worth $225,385,000 after acquiring an additional 600,300 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on CI shares. Barclays boosted their target price on shares of The Cigna Group from $339.00 to $382.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Cowen reissued a "buy" rating on shares of The Cigna Group in a research report on Monday, May 5th. Piper Sandler boosted their target price on shares of The Cigna Group from $348.00 to $374.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Morgan Stanley boosted their target price on shares of The Cigna Group from $379.00 to $390.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Finally, Truist Financial boosted their target price on shares of The Cigna Group from $385.00 to $405.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, The Cigna Group presently has a consensus rating of "Buy" and a consensus target price of $379.33.

The Cigna Group Stock Performance

The Cigna Group stock traded up $4.79 during mid-day trading on Friday, reaching $316.84. The company had a trading volume of 372,191 shares, compared to its average volume of 1,704,801. 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 52 week low of $262.03 and a 52 week high of $370.83. The company has a 50 day moving average of $324.84 and a 200-day moving average of $309.75. The firm has a market cap of $84.64 billion, a price-to-earnings ratio of 25.89, a PEG ratio of 0.98 and a beta of 0.47.

The Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share 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 the consensus estimate of $60.39 billion. During the same period in the prior year, the firm earned $6.47 EPS. The business's revenue was up 14.4% on a year-over-year basis. On average, sell-side analysts expect that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend is Tuesday, June 3rd. The Cigna Group's dividend payout ratio (DPR) is presently 33.44%.

Insider Buying and Selling at The Cigna Group

In other news, 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 transaction, the chief executive officer now owns 127,767 shares in the company, valued at approximately $39,367,568.04. This represents a 17.19% decrease in their position. The sale was disclosed in a filing with the SEC, 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 transaction of $3,182,080.00. Following the completion of 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 disclosure for this sale can be found here. Insiders sold a total of 43,751 shares of company stock valued at $13,603,991 in the last ninety days. Company insiders own 0.70% of the company's stock.

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.