Allspring Global Investments Holdings LLC Buys 66,891 Shares of The Cigna Group (NYSE:CI)

Allspring Global Investments Holdings LLC lifted its stake in shares of The Cigna Group (NYSE:CI - Free Report) by 29.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 293,438 shares of the health services provider's stock after purchasing an additional 66,891 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.10% of The Cigna Group worth $87,870,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Moneta Group Investment Advisors LLC grew its position in The Cigna Group by 154,255.6% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 11,954,841 shares of the health services provider's stock worth $3,961,117,000 after buying an additional 11,947,096 shares during the last quarter. Norges Bank acquired a new position in shares of The Cigna Group in the 4th quarter valued at $963,542,000. Parnassus Investments LLC purchased a new position in The Cigna Group in the 3rd quarter worth about $731,041,000. FMR LLC increased its stake in The Cigna Group by 13.8% in the 3rd quarter. FMR LLC now owns 15,967,363 shares of the health services provider's stock worth $4,567,783,000 after purchasing an additional 1,939,554 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in The Cigna Group by 13,563.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 596,121 shares of the health services provider's stock worth $167,272,000 after buying an additional 591,758 shares during the period. Institutional investors and hedge funds own 86.99% of the company's stock.

The Cigna Group Stock Up 0.1 %

Shares of CI stock traded up $0.36 on Wednesday, hitting $357.84. The company's stock had a trading volume of 992,769 shares, compared to its average volume of 1,619,188. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market capitalization of $104.62 billion, a price-to-earnings ratio of 20.58, a P/E/G ratio of 1.10 and a beta of 0.56. The Cigna Group has a fifty-two week low of $240.50 and a fifty-two week high of $365.71. The firm's fifty day moving average price is $345.06 and its 200-day moving average price is $312.72.

The Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings results on Friday, February 2nd. The health services provider reported $6.79 earnings per share for the quarter, topping analysts' consensus estimates of $6.54 by $0.25. The company had revenue of $51.15 billion during the quarter, compared to analysts' expectations of $48.91 billion. The Cigna Group had a return on equity of 13.59% and a net margin of 2.64%. The business's quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.96 earnings per share. Research analysts anticipate that The Cigna Group will post 28.36 EPS for the current year.

The Cigna Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th were issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend was Tuesday, March 5th. This is an increase from The Cigna Group's previous quarterly dividend of $1.23. The Cigna Group's dividend payout ratio (DPR) is 32.20%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CI. Royal Bank of Canada raised shares of The Cigna Group from a "sector perform" rating to an "outperform" rating and lifted their target price for the stock from $327.00 to $354.00 in a research report on Monday, February 5th. Oppenheimer restated an "outperform" rating and issued a $360.00 target price on shares of The Cigna Group in a report on Wednesday, January 17th. Mizuho raised their target price on The Cigna Group from $360.00 to $370.00 and gave the stock a "buy" rating in a research report on Monday, February 5th. Morgan Stanley reissued an "overweight" rating and set a $392.00 price target (up from $382.00) on shares of The Cigna Group in a research report on Monday, March 4th. Finally, Wells Fargo & Company raised their price objective on The Cigna Group from $334.00 to $348.00 and gave the stock an "equal weight" rating in a research report on Tuesday, February 6th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, The Cigna Group presently has an average rating of "Buy" and a consensus target price of $362.14.

Insider Buying and Selling at The Cigna Group

In related news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of The Cigna Group stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total value of $1,608,446.16. Following the transaction, the senior vice president now owns 2,102 shares in the company, valued at approximately $694,668.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO David Cordani sold 38,065 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $335.22, for a total value of $12,760,149.30. Following the completion of the sale, the chief executive officer now directly owns 329,321 shares of the company's stock, valued at $110,394,985.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the business's stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the transaction, the senior vice president now directly owns 2,102 shares in the company, valued at approximately $694,668.96. The disclosure for this sale can be found here. Insiders have sold a total of 114,144 shares of company stock worth $39,296,330 over the last 90 days. Insiders own 0.70% of the company's stock.

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.