Blueshift Asset Management LLC bought a new stake in shares of The Cigna Group (NYSE:CI - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 3,241 shares of the health services provider's stock, valued at approximately $895,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Swedbank AB raised its position in shares of The Cigna Group by 26.6% during the 3rd quarter. Swedbank AB now owns 570,283 shares of the health services provider's stock worth $197,569,000 after purchasing an additional 119,681 shares during the period. Prospera Financial Services Inc increased its position in The Cigna Group by 9.2% in the third quarter. Prospera Financial Services Inc now owns 1,378 shares of the health services provider's stock worth $480,000 after buying an additional 116 shares during the period. Fifth Third Wealth Advisors LLC lifted its stake in The Cigna Group by 10.9% in the third quarter. Fifth Third Wealth Advisors LLC now owns 1,595 shares of the health services provider's stock valued at $553,000 after buying an additional 157 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in The Cigna Group in the third quarter valued at $8,202,000. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of The Cigna Group by 2.3% during the third quarter. PNC Financial Services Group Inc. now owns 362,339 shares of the health services provider's stock valued at $125,529,000 after acquiring an additional 7,996 shares during the period. Institutional investors own 86.99% of the company's stock.
Insider Buying and Selling at The Cigna Group
In related news, CEO David Cordani sold 26,527 shares of the company's stock in a transaction 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 transaction, the chief executive officer now directly owns 127,767 shares of the company's stock, valued at approximately $39,367,568.04. The trade was a 17.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Noelle K. Eder sold 9,944 shares of the firm's stock in a transaction dated 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 owns 13,406 shares of the company's stock, valued at $4,289,920. The trade was a 42.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,751 shares of company stock valued at $13,603,991. 0.60% of the stock is currently owned by corporate insiders.
The Cigna Group Price Performance
Shares of NYSE:CI traded up $4.14 during trading hours on Monday, hitting $320.79. 1,287,842 shares of the company's stock traded hands, compared to its average volume of 1,565,016. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. The company has a market cap of $87.79 billion, a price-to-earnings ratio of 26.21, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53. The company's fifty day simple moving average is $301.62 and its two-hundred day simple moving average is $314.45. 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 Cigna Group (NYSE:CI - Get Free Report) last released 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 return on equity of 18.61% and a net margin of 1.39%. During the same period in the prior year, the business earned $6.79 EPS. As a group, equities analysts anticipate that The Cigna Group will post 29.77 EPS for the current fiscal year.
The Cigna Group Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend was Wednesday, March 5th. This is an increase from The Cigna Group's previous quarterly dividend of $1.40. The Cigna Group's payout ratio is presently 49.35%.
Analyst Ratings Changes
Several analysts recently weighed in on CI shares. StockNews.com upgraded shares of The Cigna Group from a "hold" rating to a "buy" rating in a research report on Wednesday, February 19th. Royal Bank of Canada set a $355.00 price target on The Cigna Group in a report on Friday, January 31st. Raymond James reiterated a "strong-buy" rating and set a $360.00 price objective (down from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Stephens cut their target price on The Cigna Group from $410.00 to $380.00 and set an "overweight" rating on the stock in a research note on Friday, January 31st. Finally, Oppenheimer decreased their price target on The Cigna Group from $400.00 to $375.00 and set an "outperform" rating for the company in a research note on Friday, January 31st. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $373.25.
Check Out Our Latest Analysis on CI
The Cigna Group Company Profile
(
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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