Deutsche Bank AG Buys 188,422 Shares of The Cigna Group (NYSE:CI)

Deutsche Bank AG boosted its stake in The Cigna Group (NYSE:CI - Free Report) by 14.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,490,904 shares of the health services provider's stock after purchasing an additional 188,422 shares during the period. Deutsche Bank AG owned about 0.54% of The Cigna Group worth $411,698,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also 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% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 11,556,278 shares of the health services provider's stock valued at $3,191,151,000 after acquiring an additional 501,320 shares during the last quarter. Sanders Capital LLC increased its position in The Cigna Group by 2.0% during the 4th quarter. Sanders Capital LLC now owns 8,054,959 shares of the health services provider's stock valued at $2,224,296,000 after purchasing an additional 154,420 shares during the period. Geode Capital Management LLC increased its position in shares of The Cigna Group by 1.7% during 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 buying an additional 101,737 shares during the period. GQG Partners LLC raised 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 worth $1,110,520,000 after buying an additional 737,099 shares during the last quarter. Finally, Norges Bank bought a new position in The Cigna Group during the fourth quarter worth $867,785,000. Institutional investors own 86.99% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CI. Royal Bank of Canada set a $355.00 target price on shares of The Cigna Group in a research note on Friday, January 31st. Wells Fargo & Company reduced their price target on shares of The Cigna Group from $370.00 to $341.00 and set an "equal weight" rating for the company in a report on Tuesday, February 4th. Morgan Stanley raised their price target on shares of The Cigna Group from $379.00 to $390.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Barclays raised their price target on shares of The Cigna Group from $339.00 to $382.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Finally, Guggenheim reiterated a "buy" rating and set a $388.00 price objective (up from $384.00) on shares of The Cigna Group in a report on Monday, May 5th. Two equities 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's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $379.33.

Insider Buying and Selling at The Cigna Group

In other news, CEO David Cordani sold 26,527 shares of the 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 transaction, the chief executive officer now owns 127,767 shares of the company's stock, valued at $39,367,568.04. This represents a 17.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Nicole S. Jones sold 4,904 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the completion of the transaction, the insider now directly owns 29,421 shares in the company, valued at $9,065,198.52. The trade was a 14.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,751 shares of company stock valued at $13,603,991 in the last three months. Company insiders own 0.70% of the company's stock.

The Cigna Group Stock Performance

CI traded down $18.23 during midday trading on Monday, reaching $315.23. The company had a trading volume of 3,560,439 shares, compared to its average volume of 1,704,149. 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 stock has a market cap of $84.21 billion, a PE ratio of 25.75, a P/E/G ratio of 0.98 and a beta of 0.47. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The business has a 50-day moving average price of $325.84 and a two-hundred day moving average price of $310.01.

The Cigna Group (NYSE:CI - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $65.45 billion for the quarter, compared to analyst estimates of $60.39 billion. During the same quarter in the previous year, the firm posted $6.47 earnings per share. The company's quarterly revenue was up 14.4% compared to the same quarter last year. On average, sell-side analysts expect 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 issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date is Tuesday, June 3rd. The Cigna Group's dividend payout ratio (DPR) is presently 33.44%.

The Cigna Group 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.