Bokf Na Acquires 12,448 Shares of The Cigna Group (NYSE:CI)

BOKF NA lifted its stake in shares of The Cigna Group (NYSE:CI - Free Report) by 210.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,359 shares of the health services provider's stock after acquiring an additional 12,448 shares during the quarter. BOKF NA's holdings in The Cigna Group were worth $5,122,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CI. Massachusetts Financial Services Co. MA raised its stake in shares of The Cigna Group by 4.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 11,556,278 shares of the health services provider's stock worth $3,191,151,000 after buying an additional 501,320 shares in the last quarter. Sanders Capital LLC grew its holdings in The Cigna Group by 2.0% during the fourth quarter. Sanders Capital LLC now owns 8,054,959 shares of the health services provider's stock worth $2,224,296,000 after acquiring an additional 154,420 shares during the period. Geode Capital Management LLC raised its position in The Cigna Group by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 5,957,180 shares of the health services provider's stock worth $1,640,878,000 after acquiring an additional 101,737 shares in the last quarter. GQG Partners LLC lifted its stake in The Cigna Group by 22.4% during the fourth quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider's stock valued at $1,110,520,000 after purchasing an additional 737,099 shares during the last quarter. Finally, Norges Bank acquired a new position in The Cigna Group in the fourth quarter worth approximately $867,785,000. Institutional investors own 86.99% of the company's stock.

The Cigna Group Stock Up 0.2 %

NYSE CI traded up $0.68 during trading on Friday, hitting $333.79. 787,916 shares of the company traded hands, compared to its average volume of 1,696,608. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $89.17 billion, a P/E ratio of 27.27, a PEG ratio of 0.98 and a beta of 0.47. The business has a fifty day simple moving average of $325.84 and a 200 day simple moving average of $310.12. 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 announced its earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $65.45 billion during the quarter, compared to analysts' expectations of $60.39 billion. During the same quarter in the prior year, the business earned $6.47 earnings per share. The company's revenue was up 14.4% on a year-over-year basis. As a group, sell-side analysts predict that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Dividend Announcement

The firm 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 $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 1.81%. The ex-dividend date is Tuesday, June 3rd. The Cigna Group's dividend payout ratio is currently 33.44%.

Analyst Upgrades and Downgrades

CI has been the subject of several research reports. Cantor Fitzgerald raised their price objective on The Cigna Group from $350.00 to $365.00 and gave the stock an "overweight" rating in a research note on Thursday, March 20th. Robert W. Baird decreased their price target on The Cigna Group from $388.00 to $362.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Cowen restated a "buy" rating on shares of The Cigna Group in a report on Monday, May 5th. Wells Fargo & Company reduced their price objective on shares of The Cigna Group from $370.00 to $341.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 4th. Finally, Sanford C. Bernstein lowered shares of The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 price target on the stock. in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $378.22.

Insider Activity

In other news, Director Elder Granger sold 2,376 shares of the firm's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $310.35, for a total transaction of $737,391.60. Following the completion of the transaction, the director now directly owns 5,471 shares of the company's stock, valued at approximately $1,697,924.85. This trade represents a 30.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Cordani sold 26,527 shares of the stock in a transaction dated Monday, March 3rd. The stock was 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 $39,367,568.04. This trade represents a 17.19 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,751 shares of company stock valued at $13,603,991. 0.70% of the stock is 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.