Allianz SE Takes $6.90 Million Position in The Cigna Group (NYSE:CI)

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

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sterling Financial Group Inc. bought a new stake in The Cigna Group in the fourth quarter valued at approximately $4,367,000. Principal Financial Group Inc. raised its holdings in The Cigna Group by 3.6% during the 3rd quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider's stock valued at $112,216,000 after buying an additional 11,228 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. boosted its position in The Cigna Group by 1.1% during the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider's stock valued at $20,942,000 after buying an additional 858 shares during the period. Valley Wealth Managers Inc. grew its holdings in The Cigna Group by 2.8% in the 4th quarter. Valley Wealth Managers Inc. now owns 56,933 shares of the health services provider's stock worth $15,721,000 after acquiring an additional 1,548 shares during the last quarter. Finally, Pine Valley Investments Ltd Liability Co increased its position in shares of The Cigna Group by 28.3% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 15,713 shares of the health services provider's stock valued at $5,444,000 after acquiring an additional 3,466 shares during the period. Institutional investors own 86.99% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CI. UBS Group dropped their target price on shares of The Cigna Group from $410.00 to $390.00 and set a "buy" rating for the company in a report on Monday, February 3rd. Morgan Stanley cut their price objective 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. Sanford C. Bernstein downgraded The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 target price for the company. in a report on Thursday, February 6th. Barclays dropped their price target on The Cigna Group from $420.00 to $339.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. Finally, 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. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $373.25.

Insider Activity at The Cigna Group

In related news, Director Elder Granger sold 2,376 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $310.35, for a total transaction of $737,391.60. Following the transaction, the director now owns 5,471 shares in the company, valued at $1,697,924.85. This represents a 30.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David Cordani sold 26,527 shares of The Cigna Group stock in a transaction that occurred 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 directly owns 127,767 shares of the company's stock, valued at approximately $39,367,568.04. This trade represents a 17.19 % decrease in their position. 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.

The Cigna Group Stock Down 0.0 %

CI stock traded down $0.06 on Wednesday, reaching $330.94. 463,989 shares of the company traded hands, compared to its average volume of 1,652,067. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72. The firm has a fifty day simple moving average of $306.43 and a 200-day simple moving average of $313.00. The Cigna Group has a one year low of $262.03 and a one year high of $370.83. The company has a market cap of $90.57 billion, a P/E ratio of 27.04, a price-to-earnings-growth ratio of 0.98 and a beta of 0.50.

The Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing the consensus estimate 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 prior year, the company earned $6.79 EPS. Research analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were issued a dividend of $1.51 per share. This is a boost 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 dividend on an annualized basis and a dividend yield of 1.83%. The Cigna Group's dividend payout ratio is presently 49.35%.

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.