Franklin Resources Inc. Has $808.32 Million Position in The Cigna Group (NYSE:CI)

Franklin Resources Inc. boosted its position in The Cigna Group (NYSE:CI - Free Report) by 10.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,927,223 shares of the health services provider's stock after purchasing an additional 286,515 shares during the quarter. Franklin Resources Inc. owned about 1.05% of The Cigna Group worth $808,323,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. CreativeOne Wealth LLC boosted its holdings in shares of The Cigna Group by 3.0% during the third quarter. CreativeOne Wealth LLC now owns 1,219 shares of the health services provider's stock worth $422,000 after purchasing an additional 35 shares during the last quarter. Hudson Edge Investment Partners Inc. lifted its position in The Cigna Group by 1.9% during the fourth quarter. Hudson Edge Investment Partners Inc. now owns 1,883 shares of the health services provider's stock worth $520,000 after buying an additional 36 shares during the period. Meridian Wealth Management LLC boosted its stake in The Cigna Group by 1.0% in the 4th quarter. Meridian Wealth Management LLC now owns 3,670 shares of the health services provider's stock worth $1,013,000 after buying an additional 37 shares during the last quarter. Mindset Wealth Management LLC grew its holdings in The Cigna Group by 2.6% in the 4th quarter. Mindset Wealth Management LLC now owns 1,469 shares of the health services provider's stock valued at $406,000 after buying an additional 37 shares during the period. Finally, Jacobi Capital Management LLC increased its stake in shares of The Cigna Group by 2.2% during the 4th 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 during the last quarter. Institutional investors and hedge funds own 86.99% of the company's stock.

Remove Ads

Insider Activity at The Cigna Group

In other news, CEO David Cordani sold 26,527 shares of the firm's stock in a transaction dated 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 in the company, valued at approximately $39,367,568.04. This trade represents a 17.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Nicole S. Jones sold 4,904 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 value of $1,511,020.48. Following the completion of the sale, the insider now owns 29,421 shares of the company's stock, valued at $9,065,198.52. This trade represents a 14.29 % 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. Insiders own 0.70% of the company's stock.

The Cigna Group Trading Down 2.6 %

CI stock traded down $8.78 during midday trading on Friday, reaching $329.67. The stock had a trading volume of 1,417,405 shares, compared to its average volume of 1,655,447. The business has a fifty day simple moving average of $308.16 and a two-hundred day simple moving average of $313.31. The firm has a market cap of $90.22 billion, a price-to-earnings ratio of 26.98, a PEG ratio of 0.98 and a beta of 0.50. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. 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 (NYSE:CI - Get Free Report) last released 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 quarter last year, the firm posted $6.79 earnings per share. As a group, research analysts expect that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were given a $1.51 dividend. 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%. This is an increase from The Cigna Group's previous quarterly dividend of $1.40. The Cigna Group's payout ratio is currently 49.35%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CI shares. Morgan Stanley decreased 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 report on Friday, January 31st. 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 note on Thursday, March 20th. Piper Sandler restated an "overweight" rating and issued a $348.00 price objective (down from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Wells Fargo & Company lowered their price target on The Cigna Group from $370.00 to $341.00 and set an "equal weight" rating for the company in a report on Tuesday, February 4th. Finally, Sanford C. Bernstein lowered shares of The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 price objective on the stock. in a research note on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, The Cigna Group has a consensus rating of "Buy" and a consensus target price of $373.25.

About The Cigna Group

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.