The Manufacturers Life Insurance Company Has $212.36 Million Holdings in The Cigna Group (NYSE:CI)

The Manufacturers Life Insurance Company increased its stake in shares of The Cigna Group (NYSE:CI - Free Report) by 5.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 769,035 shares of the health services provider's stock after buying an additional 39,783 shares during the period. The Manufacturers Life Insurance Company owned 0.28% of The Cigna Group worth $212,361,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. TCTC Holdings LLC bought a new stake in The Cigna Group in the fourth quarter worth about $25,000. Collier Financial bought a new stake in shares of The Cigna Group during the fourth quarter valued at approximately $32,000. ORG Wealth Partners LLC purchased a new position in The Cigna Group during the fourth quarter valued at $34,000. Compagnie Lombard Odier SCmA bought a new stake in shares of The Cigna Group during the 4th quarter valued at $37,000. Finally, Transce3nd LLC purchased a new position in The Cigna Group during the 4th quarter valued at about $38,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Noelle K. Eder sold 9,944 shares of the firm's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $320.00, for a total value of $3,182,080.00. Following 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO David Cordani sold 26,527 shares of the firm's stock in a transaction on 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 sale, the chief executive officer now owns 127,767 shares in the company, valued at $39,367,568.04. This represents a 17.19 % 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 quarter. Company insiders own 0.70% of the company's stock.

The Cigna Group Trading Down 0.3 %

Shares of The Cigna Group stock traded down $1.15 during trading hours on Friday, reaching $334.03. 2,471,704 shares of the company's stock were exchanged, compared to its average volume of 1,701,931. The firm has a market capitalization of $91.42 billion, a price-to-earnings ratio of 27.29, a price-to-earnings-growth ratio of 0.98 and a beta of 0.51. 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 Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The company has a fifty day moving average of $322.82 and a 200-day moving average of $310.34.

The Cigna Group (NYSE:CI - Get Free Report) last released its earnings results on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, beating the consensus estimate 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 company had revenue of $65.45 billion during the quarter, compared to analysts' expectations of $60.39 billion. During the same period in the prior year, the business posted $6.47 EPS. The business's revenue was up 14.4% on a year-over-year basis. Sell-side analysts forecast that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be paid a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date is Tuesday, June 3rd. The Cigna Group's payout ratio is 49.35%.

Analyst Upgrades and Downgrades

CI has been the subject of a number of analyst reports. Royal Bank of Canada set a $355.00 target price on shares of The Cigna Group in a research note on Friday, January 31st. Guggenheim initiated coverage on The Cigna Group in a research note on Wednesday, April 9th. They set a "buy" rating and a $384.00 price objective on the stock. Barclays cut their target price on The Cigna Group from $420.00 to $339.00 and set an "overweight" rating on the stock in a research report on Friday, January 31st. Cantor Fitzgerald boosted their price objective on shares of The Cigna Group from $350.00 to $365.00 and gave the company an "overweight" rating in a research report on Thursday, March 20th. Finally, Stephens decreased their price objective 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. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $373.56.

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.