Quantinno Capital Management LP Buys 21,683 Shares of The Cigna Group (NYSE:CI)

Quantinno Capital Management LP lifted its stake in shares of The Cigna Group (NYSE:CI - Free Report) by 94.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,730 shares of the health services provider's stock after acquiring an additional 21,683 shares during the period. Quantinno Capital Management LP's holdings in The Cigna Group were worth $12,352,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Sterling Financial Group Inc. bought a new position in The Cigna Group in the fourth quarter valued at $4,367,000. Deroy & Devereaux Private Investment Counsel Inc. grew its position in The Cigna Group by 1.1% in the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider's stock valued at $20,942,000 after purchasing an additional 858 shares in the last quarter. Valley Wealth Managers Inc. grew its position in The Cigna Group by 2.8% in the fourth quarter. Valley Wealth Managers Inc. now owns 56,933 shares of the health services provider's stock valued at $15,721,000 after purchasing an additional 1,548 shares in the last quarter. Humankind Investments LLC grew its position in The Cigna Group by 12.1% in the fourth quarter. Humankind Investments LLC now owns 5,294 shares of the health services provider's stock valued at $1,462,000 after purchasing an additional 571 shares in the last quarter. Finally, KBC Group NV grew its position in The Cigna Group by 1.5% in the fourth quarter. KBC Group NV now owns 550,638 shares of the health services provider's stock valued at $152,053,000 after purchasing an additional 8,077 shares in the last quarter. Institutional investors own 86.99% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Cantor Fitzgerald increased their price target on shares of The Cigna Group from $350.00 to $365.00 and gave the company an "overweight" rating in a research note on Thursday, March 20th. Stephens cut their price target on shares of The Cigna Group from $410.00 to $380.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. Barclays increased their price target on shares of The Cigna Group from $339.00 to $382.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. StockNews.com upgraded shares of The Cigna Group from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. Finally, UBS Group cut their price target on shares of The Cigna Group from $410.00 to $390.00 and set a "buy" rating for the company in a research note on Monday, February 3rd. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, The Cigna Group currently has a consensus rating of "Buy" and a consensus target price of $379.33.

The Cigna Group Stock Performance

NYSE:CI traded up $11.82 during mid-day trading on Friday, reaching $320.68. 2,055,906 shares of the company's stock were exchanged, compared to its average volume of 1,713,793. The Cigna Group has a one year low of $262.03 and a one year high of $370.83. The firm has a market capitalization of $85.67 billion, a PE ratio of 26.20, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47. The business's fifty day simple moving average is $325.00 and its two-hundred day simple moving average is $309.91. 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 Cigna Group (NYSE:CI - Get Free Report) last released its quarterly 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 for the quarter, compared to analyst estimates of $60.39 billion. During the same period last year, the firm earned $6.47 earnings per share. The Cigna Group's revenue for the quarter was up 14.4% compared to the same quarter last year. Analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date is Tuesday, June 3rd. The Cigna Group's dividend payout ratio is 33.44%.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, insider Nicole S. Jones sold 4,904 shares of the firm'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 transaction, the insider now directly owns 29,421 shares of the company's stock, valued at $9,065,198.52. This trade represents a 14.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Noelle K. Eder sold 9,944 shares of the firm's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the completion of the transaction, the insider now directly owns 13,406 shares in the company, valued at approximately $4,289,920. This represents a 42.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,751 shares of company stock valued at $13,603,991 in the last ninety days. 0.70% of the stock is currently owned by company insiders.

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.