Allianz SE Makes New Investment in The Cigna Group (NYSE:CI)

Allianz SE purchased a new stake in The Cigna Group (NYSE:CI - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 25,085 shares of the health services provider's stock, valued at approximately $6,902,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Norges Bank bought a new position in The Cigna Group in the fourth quarter worth $867,785,000. Raymond James Financial Inc. acquired a new position in shares of The Cigna Group in the 4th quarter valued at $313,911,000. GQG Partners LLC lifted its holdings in shares of The Cigna Group by 22.4% during the 4th quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider's stock worth $1,110,520,000 after acquiring an additional 737,099 shares during the period. Amundi boosted its position in shares of The Cigna Group by 19.9% during the 4th quarter. Amundi now owns 2,254,050 shares of the health services provider's stock valued at $628,579,000 after acquiring an additional 374,865 shares in the last quarter. Finally, Swedbank AB increased its stake in The Cigna Group by 55.1% in the fourth quarter. Swedbank AB now owns 884,406 shares of the health services provider's stock valued at $244,220,000 after acquiring an additional 314,123 shares during the period. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Trading Up 1.3 %

CI stock traded up $4.29 during midday trading on Monday, reaching $329.33. The stock had a trading volume of 2,128,567 shares, compared to its average volume of 1,654,150. The firm has a market cap of $90.13 billion, a price-to-earnings ratio of 26.91, a PEG ratio of 0.98 and a beta of 0.53. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70. The business has a fifty day simple moving average of $304.67 and a two-hundred day simple moving average of $313.47.

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

The Cigna Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were paid a $1.51 dividend. This is a positive change from The Cigna Group's previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $6.04 annualized dividend and a yield of 1.83%. The Cigna Group's dividend payout ratio is presently 49.35%.

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 shares were sold at an average price of $320.00, for a total value of $3,182,080.00. Following the completion of the sale, the insider now owns 13,406 shares in the company, valued at $4,289,920. This represents a 42.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David Cordani sold 26,527 shares of The Cigna Group stock in a transaction dated Monday, March 3rd. The stock was 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 in the company, valued at approximately $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. In the last ninety days, insiders sold 43,751 shares of company stock worth $13,603,991. 0.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CI has been the topic of a number of recent research reports. Sanford C. Bernstein downgraded The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 price objective on the stock. in a report on Thursday, February 6th. Morgan Stanley lowered their price target on The Cigna Group from $403.00 to $379.00 and set an "overweight" rating on the stock in a research report on Friday, January 31st. UBS Group cut their price objective on The Cigna Group from $410.00 to $390.00 and set a "buy" rating for the company in a report on Monday, February 3rd. Piper Sandler reaffirmed an "overweight" rating and issued a $348.00 target price (down previously from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Finally, Truist Financial dropped their target price on shares of The Cigna Group from $390.00 to $375.00 and set a "buy" rating for the company in a research report on Tuesday, February 4th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, The Cigna Group has an average rating of "Buy" and a consensus price target of $373.25.

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.