National Pension Service Buys 10,855 Shares of The Cigna Group (NYSE:CI)

National Pension Service increased its stake in shares of The Cigna Group (NYSE:CI - Free Report) by 2.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 538,358 shares of the health services provider's stock after buying an additional 10,855 shares during the quarter. National Pension Service owned 0.18% of The Cigna Group worth $161,211,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Bogart Wealth LLC grew its holdings in shares of The Cigna Group by 104.5% in the third quarter. Bogart Wealth LLC now owns 90 shares of the health services provider's stock valued at $26,000 after acquiring an additional 46 shares in the last quarter. OFI Invest Asset Management bought a new position in The Cigna Group in the 3rd quarter valued at $26,000. Fortitude Family Office LLC purchased a new stake in shares of The Cigna Group during the 4th quarter valued at $29,000. VisionPoint Advisory Group LLC raised its stake in shares of The Cigna Group by 112.2% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider's stock worth $30,000 after purchasing an additional 55 shares during the period. Finally, Pacifica Partners Inc. boosted its holdings in shares of The Cigna Group by 73.2% in the 4th quarter. Pacifica Partners Inc. now owns 142 shares of the health services provider's stock worth $43,000 after buying an additional 60 shares during the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Trading Up 0.2 %

Shares of NYSE CI traded up $0.61 during mid-day trading on Wednesday, hitting $347.31. The stock had a trading volume of 1,355,013 shares, compared to its average volume of 1,587,449. The firm has a market cap of $98.66 billion, a P/E ratio of 28.51, a price-to-earnings-growth ratio of 1.04 and a beta of 0.57. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.71 and a current ratio of 0.71. The business has a 50 day moving average price of $350.89 and a two-hundred day moving average price of $320.21. The Cigna Group has a 1 year low of $240.50 and a 1 year high of $365.71.

The Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.17 by $0.30. The company had revenue of $57.25 billion for the quarter, compared to the consensus estimate of $56.59 billion. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The Cigna Group's revenue was up 23.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.41 EPS. On average, equities analysts anticipate that The Cigna Group will post 28.45 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th will be issued a $1.40 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $5.60 annualized dividend and a yield of 1.61%. The Cigna Group's dividend payout ratio (DPR) is presently 45.98%.

Insider Buying and Selling at The Cigna Group

In related news, CEO David Cordani sold 38,065 shares of the company's stock in a transaction 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 sale, the chief executive officer now directly owns 329,321 shares of the company's stock, valued at $110,394,985.62. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO David Cordani sold 38,065 shares of The Cigna Group stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $335.22, for a total transaction of $12,760,149.30. Following the completion of the transaction, the chief executive officer now directly owns 329,321 shares in the company, valued at $110,394,985.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eric P. Palmer sold 6,083 shares of the firm's stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $340.00, for a total value of $2,068,220.00. Following the transaction, the insider now directly owns 44,649 shares of the company's stock, valued at approximately $15,180,660. The disclosure for this sale can be found here. In the last three months, insiders have sold 109,277 shares of company stock valued at $37,687,884. 0.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CI shares. Cantor Fitzgerald boosted their target price on The Cigna Group from $384.00 to $400.00 and gave the company an "overweight" rating in a research note on Friday, May 3rd. StockNews.com upgraded shares of The Cigna Group from a "buy" rating to a "strong-buy" rating in a research report on Thursday, March 14th. Morgan Stanley reissued an "overweight" rating and issued a $392.00 price target (up previously from $382.00) on shares of The Cigna Group in a research report on Monday, March 4th. Wells Fargo & Company raised their price objective on shares of The Cigna Group from $334.00 to $348.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 6th. Finally, Oppenheimer boosted their target price on shares of The Cigna Group from $370.00 to $400.00 and gave the company an "outperform" rating in a report on Friday, May 3rd. Two 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. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $366.14.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.