Northern Trust Corp Grows Position in The Cigna Group (NYSE:CI)

Northern Trust Corp boosted its holdings in The Cigna Group (NYSE:CI - Free Report) by 11.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,140,201 shares of the health services provider's stock after acquiring an additional 328,320 shares during the quarter. Northern Trust Corp owned about 1.13% of The Cigna Group worth $867,135,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in The Cigna Group during the 4th quarter valued at approximately $867,785,000. T. Rowe Price Investment Management Inc. bought a new stake in shares of The Cigna Group in the 4th quarter valued at approximately $724,517,000. Raymond James Financial Inc. bought a new position in shares of The Cigna Group during the 4th quarter worth approximately $313,911,000. GQG Partners LLC boosted its stake in The Cigna Group by 22.4% in the 4th 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, Massachusetts Financial Services Co. MA grew its position in 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 acquiring an additional 501,320 shares during the period. Institutional investors and hedge funds own 86.99% of the company's stock.

The Cigna Group Price Performance

Shares of CI traded down $1.15 during mid-day trading on Friday, reaching $334.03. The stock had a trading volume of 2,471,704 shares, compared to its average volume of 1,701,931. The business has a fifty day moving average of $322.82 and a 200 day moving average of $310.34. 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 firm has a market cap of $91.42 billion, a price-to-earnings ratio of 27.29, a PEG ratio of 0.98 and a beta of 0.51. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83.

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 EPS for the quarter, beating 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 business had revenue of $65.45 billion for the quarter, compared to analysts' expectations of $60.39 billion. During the same period last year, the firm earned $6.47 earnings per share. The business's quarterly revenue was up 14.4% on a year-over-year basis. Equities analysts predict that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be given a dividend of $1.51 per share. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $6.04 dividend on an annualized basis and a yield of 1.81%. The Cigna Group's dividend payout ratio is currently 49.35%.

Insider Activity

In other The Cigna Group news, CEO David Cordani sold 26,527 shares of the firm'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 transaction of $8,173,499.24. Following the completion of the transaction, the chief executive officer now directly owns 127,767 shares of the company's stock, valued at approximately $39,367,568.04. This trade represents a 17.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Noelle K. Eder sold 9,944 shares of the stock in a transaction on Friday, March 7th. The stock was 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 owns 13,406 shares in the company, valued at $4,289,920. The trade was a 42.59 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,751 shares of company stock valued at $13,603,991. Company insiders own 0.70% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company lowered their target price on shares of 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. Morgan Stanley dropped their price target on The Cigna Group from $403.00 to $379.00 and set an "overweight" rating for the company in a report on Friday, January 31st. StockNews.com upgraded shares of The Cigna Group from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. 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, Cantor Fitzgerald raised their price objective on The Cigna Group from $350.00 to $365.00 and gave the company an "overweight" rating in a research note on Thursday, March 20th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, The Cigna Group currently has a consensus rating of "Buy" and an average target price of $373.56.

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.