LGT Fund Management Co Ltd. Acquires 3,150 Shares of The Cigna Group (NYSE:CI)

LGT Fund Management Co Ltd. grew its holdings in shares of The Cigna Group (NYSE:CI - Free Report) by 67.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,850 shares of the health services provider's stock after buying an additional 3,150 shares during the period. LGT Fund Management Co Ltd.'s holdings in The Cigna Group were worth $2,168,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Swedbank AB increased its stake in shares of The Cigna Group by 55.1% during the fourth quarter. Swedbank AB now owns 884,406 shares of the health services provider's stock valued at $244,220,000 after acquiring an additional 314,123 shares during the period. FMR LLC boosted its stake in The Cigna Group by 2.0% during the 3rd quarter. FMR LLC now owns 14,230,397 shares of the health services provider's stock valued at $4,929,978,000 after purchasing an additional 279,880 shares in the last quarter. Proficio Capital Partners LLC increased its position in shares of The Cigna Group by 34,280.8% during the 4th quarter. Proficio Capital Partners LLC now owns 238,603 shares of the health services provider's stock valued at $65,888,000 after purchasing an additional 237,909 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of The Cigna Group by 68.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 497,875 shares of the health services provider's stock worth $137,483,000 after buying an additional 202,161 shares in the last quarter. Finally, World Investment Advisors LLC acquired a new stake in shares of The Cigna Group in the third quarter valued at $69,972,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Nicole S. Jones sold 4,904 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the transaction, the insider now owns 29,421 shares of the company's stock, valued at approximately $9,065,198.52. This represents a 14.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David Cordani sold 26,527 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value 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 approximately $39,367,568.04. This trade represents a 17.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.60% of the stock is owned by insiders.

The Cigna Group Stock Up 0.8 %

NYSE CI traded up $2.40 during trading on Wednesday, reaching $309.75. 677,044 shares of the company's stock were exchanged, compared to its average volume of 1,829,753. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The company's fifty day simple moving average is $290.71 and its 200-day simple moving average is $318.11. The firm has a market capitalization of $86.16 billion, a PE ratio of 25.33, a P/E/G ratio of 0.98 and a beta of 0.54.

The Cigna Group (NYSE:CI - Get Free Report) last posted its quarterly 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 previous year, the firm earned $6.79 EPS. Sell-side analysts predict that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $1.51 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.95%. This is an increase from The Cigna Group's previous quarterly dividend of $1.40. The Cigna Group's dividend payout ratio (DPR) is currently 49.35%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CI shares. Morgan Stanley lowered their target price on The Cigna Group from $403.00 to $379.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. Wells Fargo & Company lowered 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. UBS Group cut 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 research note on Monday, February 3rd. Stephens decreased their price target on shares of The Cigna Group from $410.00 to $380.00 and set an "overweight" rating on the stock in a research report on Friday, January 31st. Finally, Raymond James reiterated a "strong-buy" rating and set a $360.00 price objective (down previously from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $372.31.

The Cigna Group 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.