Twinbeech Capital LP lifted its position in The Cigna Group (NYSE:CI - Free Report) by 5,316.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 56,385 shares of the health services provider's stock after buying an additional 55,344 shares during the period. Twinbeech Capital LP's holdings in The Cigna Group were worth $15,570,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in shares of The Cigna Group in the 4th quarter worth $867,785,000. T. Rowe Price Investment Management Inc. acquired a new position in shares of The Cigna Group in the 4th quarter worth $724,517,000. Raymond James Financial Inc. purchased a new position in shares of The Cigna Group during the fourth quarter valued at $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 in 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 in the last quarter. Institutional investors own 86.99% of the company's stock.
Insider Buying and Selling
In other The Cigna Group news, Director Elder Granger sold 2,376 shares of the company's stock in a transaction that occurred on Friday, March 14th. The stock was 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 owns 5,471 shares of the company's stock, valued at $1,697,924.85. This represents a 30.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Nicole S. Jones sold 4,904 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $1,511,020.48. Following the completion of the transaction, the insider now directly owns 29,421 shares of the company's stock, valued at approximately $9,065,198.52. This trade represents a 14.29% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,751 shares of company stock valued at $13,603,991. Insiders own 0.70% of the company's stock.
Analyst Ratings Changes
CI has been the topic of a number of research analyst reports. Wells Fargo & Company lowered their price target 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. Mizuho lifted their price target on The Cigna Group from $360.00 to $384.00 and gave the company an "outperform" rating in a report on Wednesday, April 9th. Raymond James reiterated a "strong-buy" rating and set a $360.00 price target (down previously from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Sanford C. Bernstein downgraded The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 price target on the stock. in a report on Thursday, February 6th. Finally, UBS Group lowered their price target on The Cigna Group from $410.00 to $390.00 and set a "buy" rating on the stock in a report on Monday, February 3rd. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the company's stock. According to 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 CI
The Cigna Group Price Performance
Shares of NYSE:CI opened at $321.70 on Tuesday. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The business has a 50-day moving average of $325.22 and a two-hundred day moving average of $309.91. The stock has a market capitalization of $85.94 billion, a P/E ratio of 26.28, a P/E/G ratio of 0.98 and a beta of 0.47. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72.
The Cigna Group (NYSE:CI - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $65.45 billion during the quarter, compared to analysts' expectations of $60.39 billion. During the same quarter in the previous year, the firm earned $6.47 EPS. The firm's revenue was up 14.4% compared to the same quarter last year. On average, equities research analysts predict that The Cigna Group will post 29.77 EPS for the current fiscal year.
The Cigna Group Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be given a dividend of $1.51 per share. The ex-dividend date is Tuesday, June 3rd. This represents a $6.04 annualized dividend and a dividend yield of 1.88%. The Cigna Group's dividend payout ratio is presently 33.44%.
The Cigna Group Company Profile
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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.
See Also
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