APG Asset Management N.V. increased its position in The Cigna Group (NYSE:CI - Free Report) by 229.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 218,018 shares of the health services provider's stock after acquiring an additional 151,854 shares during the period. APG Asset Management N.V. owned approximately 0.08% of The Cigna Group worth $58,140,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Kesler Norman & Wride LLC increased its holdings in shares of The Cigna Group by 1.8% during the fourth quarter. Kesler Norman & Wride LLC now owns 2,033 shares of the health services provider's stock valued at $562,000 after purchasing an additional 35 shares during the period. Hudson Edge Investment Partners Inc. grew its position in The Cigna Group by 1.9% in the 4th quarter. Hudson Edge Investment Partners Inc. now owns 1,883 shares of the health services provider's stock valued at $520,000 after buying an additional 36 shares in the last quarter. Meridian Wealth Management LLC increased its stake in The Cigna Group by 1.0% during the 4th quarter. Meridian Wealth Management LLC now owns 3,670 shares of the health services provider's stock valued at $1,013,000 after buying an additional 37 shares during the period. Mindset Wealth Management LLC boosted its holdings in shares of The Cigna Group by 2.6% in the fourth quarter. Mindset Wealth Management LLC now owns 1,469 shares of the health services provider's stock valued at $406,000 after acquiring an additional 37 shares in the last quarter. Finally, Jacobi Capital Management LLC boosted its holdings in shares of The Cigna Group by 2.2% in the fourth quarter. Jacobi Capital Management LLC now owns 1,749 shares of the health services provider's stock valued at $483,000 after acquiring an additional 38 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors.
Insider Activity
In other news, 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 completion of the sale, the chief executive officer now owns 127,767 shares of the company's stock, valued at $39,367,568.04. The trade was a 17.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Elder Granger sold 2,376 shares of the firm's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $310.35, for a total value of $737,391.60. Following the completion of the transaction, the director now directly owns 5,471 shares in the company, valued at $1,697,924.85. This trade represents a 30.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,751 shares of company stock worth $13,603,991 over the last three months. 0.70% of the stock is currently owned by corporate insiders.
The Cigna Group Price Performance
CI stock traded down $1.83 during mid-day trading on Monday, reaching $328.36. 377,799 shares of the company traded hands, compared to its average volume of 1,835,343. 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 Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The company has a market capitalization of $89.86 billion, a P/E ratio of 26.83, a P/E/G ratio of 0.98 and a beta of 0.51. The company has a fifty day moving average price of $312.04 and a 200-day moving average price of $311.07.
The Cigna Group (NYSE:CI - Get Free Report) last released its earnings results 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 quarter in the prior year, the business posted $6.79 EPS. As a group, analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current year.
The Cigna Group Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date was Wednesday, March 5th. This is a boost from The Cigna Group's previous quarterly dividend of $1.40. The Cigna Group's dividend payout ratio is 49.35%.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on CI. Wells Fargo & Company decreased their price target on The Cigna Group from $370.00 to $341.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 4th. Mizuho boosted 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 report on Wednesday, April 9th. Piper Sandler reaffirmed an "overweight" rating and issued a $348.00 price objective (down previously from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. UBS Group decreased 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. Finally, Morgan Stanley lowered their price objective on shares of 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. Two research 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $375.00.
Get Our Latest Analysis on The Cigna Group
About The Cigna Group
(
Free Report)
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.
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