Bank of Nova Scotia increased its holdings in shares of The Cigna Group (NYSE:CI - Free Report) by 1.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 126,696 shares of the health services provider's stock after buying an additional 2,296 shares during the quarter. Bank of Nova Scotia's holdings in The Cigna Group were worth $34,986,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently added to or reduced their stakes in CI. Norges Bank purchased a new position in shares of The Cigna Group in the 4th quarter worth $867,785,000. Raymond James Financial Inc. purchased a new position in shares of The Cigna Group in the 4th quarter worth about $313,911,000. GQG Partners LLC lifted 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 in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of The Cigna Group by 4.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 11,556,278 shares of the health services provider's stock worth $3,191,151,000 after purchasing an additional 501,320 shares during the period. Finally, Amundi increased its position in The Cigna Group by 19.9% during the 4th quarter. Amundi now owns 2,254,050 shares of the health services provider's stock worth $628,579,000 after purchasing an additional 374,865 shares in the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.
The Cigna Group Stock Down 0.6 %
Shares of CI traded down $1.83 during midday trading on Monday, hitting $328.36. The company had a trading volume of 377,799 shares, compared to its average volume of 1,835,343. 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 Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. The company's 50 day moving average price is $312.04 and its 200 day moving average price is $311.07. The stock has a market cap of $89.86 billion, a price-to-earnings ratio of 26.83, a PEG ratio of 0.98 and a beta of 0.51.
The Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings data 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 business earned $6.79 earnings per share. On average, equities research analysts predict that The Cigna Group will post 29.77 EPS for the current year.
The Cigna Group Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were paid a dividend of $1.51 per share. This is a positive change from The Cigna Group's previous quarterly dividend of $1.40. The ex-dividend date was Wednesday, March 5th. This represents a $6.04 annualized dividend and a yield of 1.84%. The Cigna Group's payout ratio is presently 49.35%.
Analysts Set New Price Targets
CI has been the topic of a number of recent research reports. Mizuho lifted their price target on shares of The Cigna Group from $360.00 to $384.00 and gave the company an "outperform" rating in a research report on Wednesday, April 9th. Barclays reduced their target price on shares of The Cigna Group from $420.00 to $339.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. Guggenheim began coverage on The Cigna Group in a report on Wednesday, April 9th. They issued a "buy" rating and a $384.00 price target for the company. Wells Fargo & Company reduced 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. Finally, 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 research report on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $375.00.
View Our Latest Research Report on CI
Insiders Place Their Bets
In other The Cigna Group news, insider Noelle K. Eder sold 9,944 shares of the 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 sale, the insider now directly owns 13,406 shares of the company's stock, valued at $4,289,920. This trade represents a 42.59 % decrease in their ownership of the stock. The sale 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 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 transaction, 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. Over the last three months, insiders have sold 43,751 shares of company stock valued at $13,603,991. Company insiders own 0.70% of the company's stock.
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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