Capital Fund Management S.A. Invests $18.44 Million in The Cigna Group (NYSE:CI)

Capital Fund Management S.A. acquired a new position in shares of The Cigna Group (NYSE:CI - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 66,769 shares of the health services provider's stock, valued at approximately $18,438,000.

A number of other hedge funds also recently made changes to their positions in the business. Massachusetts Financial Services Co. MA grew its stake in The Cigna Group by 4.5% in 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 purchasing an additional 501,320 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of The Cigna Group by 1.7% in the 4th 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 during the period. GQG Partners LLC grew its stake in shares of The Cigna Group by 22.4% in the 4th 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 period. Norges Bank bought a new position in shares of The Cigna Group in the fourth quarter valued at approximately $867,785,000. Finally, Franklin Resources Inc. grew its position in shares of The Cigna Group by 10.8% during the 4th quarter. Franklin Resources Inc. now owns 2,927,223 shares of the health services provider's stock worth $808,323,000 after buying an additional 286,515 shares during the period. Institutional investors own 86.99% of the company's stock.

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The Cigna Group Trading Up 1.8 %

Shares of CI stock traded up $5.79 on Wednesday, reaching $334.42. 439,209 shares of the company's stock were exchanged, compared to its average volume of 1,819,854. The stock has a market capitalization of $91.52 billion, a PE ratio of 27.32, a P/E/G 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's fifty day simple moving average is $313.58 and its 200 day simple moving average is $311.06.

The Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same period in the previous year, the company earned $6.79 earnings per share. As a group, analysts forecast that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were given a $1.51 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.81%. This is an increase from The Cigna Group's previous quarterly dividend of $1.40. The Cigna Group's dividend payout ratio is 49.35%.

Analysts Set New Price Targets

CI has been the subject of several research reports. Mizuho raised their price target on shares of The Cigna Group from $360.00 to $384.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 9th. UBS Group reduced their price objective on shares of 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. Guggenheim started coverage on shares of The Cigna Group in a research report on Wednesday, April 9th. They issued a "buy" rating and a $384.00 target price on the stock. Barclays dropped their price objective on shares of The Cigna Group from $420.00 to $339.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Finally, Morgan Stanley lowered their price objective on The Cigna Group from $403.00 to $379.00 and set an "overweight" rating for the company in a research report on Friday, January 31st. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, The Cigna Group presently has a consensus rating of "Buy" and an average price target of $373.56.

Insider Transactions at The Cigna Group

In related news, insider Noelle K. Eder sold 9,944 shares of the company's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $320.00, for a total value 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Elder Granger sold 2,376 shares of the business's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $310.35, for a total transaction of $737,391.60. Following the sale, the director now owns 5,471 shares of the company's stock, valued at approximately $1,697,924.85. This represents a 30.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,751 shares of company stock valued at $13,603,991 over the last 90 days. Corporate insiders own 0.70% of the company's stock.

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.