University of Texas Texas AM Investment Management Co. Takes $3.59 Million Position in The Cigna Group (NYSE:CI)

University of Texas Texas AM Investment Management Co. bought a new position in shares of The Cigna Group (NYSE:CI - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 12,982 shares of the health services provider's stock, valued at approximately $3,585,000.

Other institutional investors have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA raised its position in shares of The Cigna Group by 4.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 11,556,278 shares of the health services provider's stock valued at $3,191,151,000 after purchasing an additional 501,320 shares during the period. Sanders Capital LLC increased its stake in shares of The Cigna Group by 2.0% in the fourth quarter. Sanders Capital LLC now owns 8,054,959 shares of the health services provider's stock valued at $2,224,296,000 after buying an additional 154,420 shares during the period. Geode Capital Management LLC increased its holdings in The Cigna Group by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 5,957,180 shares of the health services provider's stock valued at $1,640,878,000 after purchasing an additional 101,737 shares during the period. GQG Partners LLC lifted its stake in shares of 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 during the period. Finally, Norges Bank acquired a new position in shares of The Cigna Group in the 4th quarter valued at about $867,785,000. Institutional investors and hedge funds own 86.99% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CI shares. Piper Sandler increased their price objective on shares of The Cigna Group from $348.00 to $374.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Cantor Fitzgerald upped their price target on shares of The Cigna Group from $350.00 to $365.00 and gave the stock an "overweight" rating in a report on Thursday, March 20th. Oppenheimer lowered their price target on shares of The Cigna Group from $400.00 to $375.00 and set an "outperform" rating for the company in a research note on Friday, January 31st. Raymond James reiterated a "strong-buy" rating and set a $360.00 target price (down from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Finally, Barclays boosted their price objective on shares of The Cigna Group from $339.00 to $382.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $379.33.

Insider Buying and Selling

In other The Cigna Group 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 transaction of $737,391.60. Following the sale, 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Nicole S. Jones sold 4,904 shares of the business's stock in a transaction dated 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 sale, the insider now owns 29,421 shares in the company, valued at approximately $9,065,198.52. This trade represents a 14.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,751 shares of company stock valued at $13,603,991. 0.70% of the stock is owned by company insiders.

The Cigna Group Trading Down 1.4%

Shares of The Cigna Group stock traded down $4.35 during trading hours on Wednesday, hitting $310.93. The company's stock had a trading volume of 455,533 shares, compared to its average volume of 1,808,847. The company has a market capitalization of $83.06 billion, a PE ratio of 25.41, a P/E/G ratio of 0.98 and a beta of 0.47. The business has a fifty day moving average of $325.14 and a 200 day moving average of $309.96. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. 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 (NYSE:CI - Get Free Report) last announced 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 company had revenue of $65.45 billion during the quarter, compared to the consensus estimate of $60.39 billion. The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. The company's revenue for the quarter was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.47 earnings per share. As a group, equities analysts forecast that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Announces Dividend

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 paid a dividend of $1.51 per share. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $6.04 annualized dividend and a dividend yield of 1.94%. The Cigna Group's dividend payout ratio (DPR) is 33.44%.

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.