Generali Asset Management SPA SGR Makes New Investment in The Cigna Group (NYSE:CI)

Generali Asset Management SPA SGR purchased a new stake in The Cigna Group (NYSE:CI - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 26,078 shares of the health services provider's stock, valued at approximately $7,201,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Swedbank AB increased its stake in shares of The Cigna Group by 26.6% in the 3rd quarter. Swedbank AB now owns 570,283 shares of the health services provider's stock valued at $197,569,000 after buying an additional 119,681 shares during the period. AMG National Trust Bank boosted its holdings in The Cigna Group by 5.7% in the third quarter. AMG National Trust Bank now owns 4,072 shares of the health services provider's stock valued at $1,411,000 after acquiring an additional 218 shares during the last quarter. OneAscent Wealth Management LLC acquired a new stake in The Cigna Group in the third quarter worth about $358,000. OneAscent Financial Services LLC bought a new stake in The Cigna Group during the 3rd quarter worth about $454,000. Finally, Meeder Asset Management Inc. raised its holdings in The Cigna Group by 353.5% during the 3rd quarter. Meeder Asset Management Inc. now owns 11,800 shares of the health services provider's stock worth $4,088,000 after purchasing an additional 9,198 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company's stock.

The Cigna Group Stock Down 1.4 %

Shares of NYSE:CI traded down $4.61 during mid-day trading on Friday, reaching $316.78. 3,552,779 shares of the stock were exchanged, compared to its average volume of 1,566,129. The company has a market cap of $86.70 billion, a P/E ratio of 25.88, a P/E/G ratio of 0.98 and a beta of 0.53. The stock's 50 day simple moving average is $300.83 and its 200-day simple moving average is $315.05. 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 one year low of $262.03 and a one year high of $370.83.

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The Cigna Group (NYSE:CI - Get Free Report) last announced 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 return on equity of 18.61% and a net margin of 1.39%. During the same quarter last year, the firm posted $6.79 EPS. As a group, equities research analysts predict that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were given a dividend of $1.51 per share. The ex-dividend date was Wednesday, March 5th. This is a boost from The Cigna Group's previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a yield of 1.91%. The Cigna Group's dividend payout ratio is 49.35%.

Insider Buying and Selling at The Cigna Group

In related news, Director Elder Granger sold 2,376 shares of The Cigna Group stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $310.35, for a total transaction of $737,391.60. Following the completion of the transaction, the director now owns 5,471 shares in the company, valued at approximately $1,697,924.85. This trade represents a 30.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Nicole S. Jones sold 4,904 shares of the company's stock in a transaction that occurred 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 in the company, valued at $9,065,198.52. This represents a 14.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,751 shares of company stock worth $13,603,991 over the last ninety days. 0.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CI shares. Piper Sandler reiterated an "overweight" rating and set a $348.00 price target (down previously from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Wells Fargo & Company reduced their price objective on shares of 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. Barclays dropped their target price on shares of The Cigna Group from $420.00 to $339.00 and set an "overweight" rating for the company in a research report on Friday, January 31st. Royal Bank of Canada set a $355.00 price objective on The Cigna Group in a research note on Friday, January 31st. Finally, Raymond James restated a "strong-buy" rating and set a $360.00 target price (down previously from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $373.25.

The Cigna Group Company 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.