OMERS ADMINISTRATION Corp Grows Stock Holdings in The Cigna Group (NYSE:CI)

OMERS ADMINISTRATION Corp boosted its stake in The Cigna Group (NYSE:CI - Free Report) by 20.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,169 shares of the health services provider's stock after buying an additional 2,029 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in The Cigna Group were worth $3,360,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of CI. TCTC Holdings LLC acquired a new position in shares of The Cigna Group during the fourth quarter valued at $25,000. Collier Financial bought a new position in The Cigna Group in the fourth quarter valued at $32,000. Compagnie Lombard Odier SCmA acquired a new position in The Cigna Group during the fourth quarter valued at approximately $37,000. Transce3nd LLC acquired a new position in The Cigna Group during the fourth quarter valued at approximately $38,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of The Cigna Group in the fourth quarter valued at approximately $53,000. Institutional investors and hedge funds own 86.99% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Royal Bank of Canada set a $355.00 target price on The Cigna Group in a research note on Friday, January 31st. UBS Group lowered their price objective on The Cigna Group from $410.00 to $390.00 and set a "buy" rating on the stock in a research note on Monday, February 3rd. Cowen restated a "buy" rating on shares of The Cigna Group in a research note on Monday, May 5th. Robert W. Baird lowered their price objective on The Cigna Group from $388.00 to $362.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Finally, Oppenheimer lowered their price objective on The Cigna Group from $400.00 to $375.00 and set an "outperform" rating on the stock in a research note on Friday, January 31st. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $379.33.

Insider Activity at The Cigna Group

In other The Cigna Group news, CEO David Cordani sold 26,527 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $8,173,499.24. Following the sale, the chief executive officer now owns 127,767 shares in the company, valued at $39,367,568.04. The trade was a 17.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Noelle K. Eder sold 9,944 shares of the business's stock in a transaction dated 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 approximately $4,289,920. This trade represents a 42.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,751 shares of company stock worth $13,603,991. 0.70% of the stock is owned by corporate insiders.

The Cigna Group Stock Up 3.8%

Shares of CI traded up $11.82 on Friday, hitting $320.68. 2,055,906 shares of the stock traded hands, compared to its average volume of 1,714,979. The company has a market capitalization of $85.67 billion, a PE ratio of 26.20, 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 quick ratio of 0.72 and a current ratio of 0.66. The business has a 50 day simple moving average of $325.00 and a 200 day simple moving average of $309.94. The Cigna Group has a one year low of $262.03 and a one year high of $370.83.

The Cigna Group (NYSE:CI - Get Free Report) last posted its earnings results on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, topping analysts' consensus estimates of $6.35 by $0.39. The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. The business had revenue of $65.45 billion during the quarter, compared to the consensus estimate of $60.39 billion. During the same quarter in the previous year, the firm posted $6.47 EPS. The firm's revenue was up 14.4% on a year-over-year basis. As a group, equities analysts forecast that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date is Tuesday, June 3rd. 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.