Amundi Boosts Position in The Cigna Group (NYSE:CI)

Amundi raised its position in The Cigna Group (NYSE:CI - Free Report) by 19.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,254,050 shares of the health services provider's stock after purchasing an additional 374,865 shares during the quarter. Amundi owned 0.81% of The Cigna Group worth $628,579,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CI. Swedbank AB boosted its holdings in The Cigna Group by 26.6% during the 3rd quarter. Swedbank AB now owns 570,283 shares of the health services provider's stock valued at $197,569,000 after acquiring an additional 119,681 shares during the period. Harbor Capital Advisors Inc. bought a new stake in shares of The Cigna Group during the third quarter worth $45,000. Van ECK Associates Corp boosted its stake in shares of The Cigna Group by 1.8% during the third quarter. Van ECK Associates Corp now owns 15,137 shares of the health services provider's stock valued at $4,807,000 after purchasing an additional 265 shares during the period. Moloney Securities Asset Management LLC bought a new position in shares of The Cigna Group in the third quarter worth about $232,000. Finally, Concurrent Investment Advisors LLC increased its stake in The Cigna Group by 1.3% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 4,064 shares of the health services provider's stock worth $1,408,000 after buying an additional 51 shares during the period. Institutional investors own 86.99% of the company's stock.

Insider Transactions at The Cigna Group

In other news, insider Noelle K. Eder sold 9,944 shares of The Cigna Group stock in a transaction on Friday, March 7th. The shares were sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the completion of the sale, the insider now directly owns 13,406 shares in the company, valued at approximately $4,289,920. The trade was a 42.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO David Cordani sold 26,527 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the sale, the chief executive officer now directly owns 127,767 shares in the company, valued at $39,367,568.04. This trade represents a 17.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,375 shares of company stock worth $12,866,600. Insiders own 0.60% of the company's stock.

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The Cigna Group Stock Down 2.9 %

NYSE:CI traded down $9.44 during midday trading on Tuesday, reaching $317.24. 1,955,263 shares of the stock traded hands, compared to its average volume of 1,870,027. The stock has a market capitalization of $86.82 billion, a PE ratio of 25.92, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. 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 business has a 50-day moving average of $294.70 and a two-hundred day moving average of $317.14.

The Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 EPS 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 previous year, the business posted $6.79 EPS. On average, equities analysts forecast that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be issued a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 1.90%. The ex-dividend date is Wednesday, March 5th. This is an increase from The Cigna Group's previous quarterly dividend of $1.40. The Cigna Group's dividend payout ratio (DPR) is currently 49.35%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CI. Morgan Stanley dropped their target price on shares of The Cigna Group from $403.00 to $379.00 and set an "overweight" rating on the stock in a research note on Friday, January 31st. Wells Fargo & Company dropped their price objective on The Cigna Group from $370.00 to $341.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 4th. Royal Bank of Canada set a $355.00 target price on The Cigna Group in a research report on Friday, January 31st. UBS Group lowered their target price 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. Finally, Piper Sandler restated an "overweight" rating and set a $348.00 price target (down previously from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $372.31.

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.