PKO Investment Management Joint Stock Co Purchases Shares of 11,200 The Cigna Group (NYSE:CI)

PKO Investment Management Joint Stock Co purchased a new position in The Cigna Group (NYSE:CI - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,200 shares of the health services provider's stock, valued at approximately $3,093,000.

A number of other large investors have also bought and sold shares of the stock. Norges Bank acquired a new position in shares of The Cigna Group during the fourth quarter valued at about $867,785,000. T. Rowe Price Investment Management Inc. acquired a new position in shares of The Cigna Group during the fourth quarter valued at about $724,517,000. Raymond James Financial Inc. acquired a new position in shares of The Cigna Group during the fourth quarter valued at about $313,911,000. GQG Partners LLC grew its holdings in shares of The Cigna Group by 22.4% during the fourth quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider's stock valued at $1,110,520,000 after buying an additional 737,099 shares during the last quarter. Finally, Two Sigma Advisers LP grew its holdings in shares of The Cigna Group by 278.0% during the fourth quarter. Two Sigma Advisers LP now owns 816,200 shares of the health services provider's stock valued at $225,385,000 after buying an additional 600,300 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO David Cordani sold 26,527 shares of the company's 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 owns 127,767 shares of the company's stock, valued at approximately $39,367,568.04. This represents a 17.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Noelle K. Eder sold 9,944 shares of the company's 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 sale, the insider now directly owns 13,406 shares of the company's stock, valued at $4,289,920. This trade represents a 42.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,751 shares of company stock valued at $13,603,991 over the last quarter. Company insiders own 0.70% of the company's stock.

Analysts Set New Price Targets

CI has been the subject of a number of analyst reports. Cowen reiterated a "buy" rating on shares of The Cigna Group in a report on Monday, May 5th. Piper Sandler raised their price target 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 lowered shares of The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 price target on the stock. in a research report on Thursday, February 6th. UBS Group dropped their price target on shares of The Cigna Group from $410.00 to $390.00 and set a "buy" rating on the stock in a research report on Monday, February 3rd. Finally, Wells Fargo & Company dropped their price target on shares of The Cigna Group from $370.00 to $341.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 4th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $379.33.

The Cigna Group Stock Performance

Shares of NYSE CI traded up $4.00 during midday trading on Friday, hitting $316.05. The company's stock had a trading volume of 2,732,235 shares, compared to its average volume of 1,697,250. The stock has a fifty day moving average price of $324.83 and a 200 day moving average price of $309.33. The Cigna Group has a one year low of $262.03 and a one year high of $370.83. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $84.43 billion, a price-to-earnings ratio of 25.82, a P/E/G ratio of 0.98 and a beta of 0.47.

The Cigna Group (NYSE:CI - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, beating 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 company had revenue of $65.45 billion for the quarter, compared to analyst estimates of $60.39 billion. During the same quarter in the previous year, the firm posted $6.47 earnings per share. The company's quarterly revenue was up 14.4% compared to the same quarter last year. On average, research analysts forecast that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be given a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Tuesday, June 3rd. The Cigna Group's dividend payout ratio (DPR) is currently 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.