National Bank of Canada FI Has $72.93 Million Position in The Cigna Group (NYSE:CI)

National Bank of Canada FI increased its position in The Cigna Group (NYSE:CI - Free Report) by 26.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 264,097 shares of the health services provider's stock after buying an additional 55,522 shares during the period. National Bank of Canada FI owned 0.09% of The Cigna Group worth $72,931,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in The Cigna Group in the 4th quarter worth approximately $867,785,000. Raymond James Financial Inc. acquired a new stake in shares of The Cigna Group in the fourth quarter worth $313,911,000. GQG Partners LLC boosted its holdings in shares of The Cigna Group by 22.4% during the 4th quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider's stock worth $1,110,520,000 after buying an additional 737,099 shares during the period. Amundi boosted its holdings in shares of 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 buying an additional 374,865 shares during the period. Finally, Swedbank AB grew its stake in The Cigna Group by 55.1% in the 4th quarter. Swedbank AB now owns 884,406 shares of the health services provider's stock valued at $244,220,000 after buying an additional 314,123 shares during the last quarter. Institutional investors own 86.99% of the company's stock.

The Cigna Group Price Performance

NYSE CI traded down $16.43 during trading hours on Friday, reaching $322.02. 3,800,885 shares of the company's stock were exchanged, compared to its average volume of 1,669,498. The firm has a fifty day moving average of $308.72 and a 200-day moving average of $312.70. The Cigna Group has a one year low of $262.03 and a one year high of $370.83. The stock has a market cap of $88.13 billion, a PE ratio of 26.31, a price-to-earnings-growth ratio of 0.98 and a beta of 0.50. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70.

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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 period in the prior year, the firm posted $6.79 EPS. On average, equities research analysts predict that The Cigna Group will post 29.77 earnings per share 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. Shareholders of record on Wednesday, March 5th were paid a $1.51 dividend. The ex-dividend date was Wednesday, March 5th. This is an increase from The Cigna Group's previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.88%. The Cigna Group's payout ratio is currently 49.35%.

Insider Transactions at The Cigna Group

In other The Cigna Group news, insider Noelle K. Eder sold 9,944 shares of the company's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the transaction, the insider now directly owns 13,406 shares in the company, valued at approximately $4,289,920. This represents a 42.59 % decrease in their position. 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 Cigna Group stock in a transaction that occurred on 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 sale, 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 43,751 shares of company stock worth $13,603,991. Corporate insiders own 0.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Barclays decreased their price target on shares of The Cigna Group from $420.00 to $339.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Stephens lowered their target price on The Cigna Group from $410.00 to $380.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. Sanford C. Bernstein downgraded 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 report on Thursday, February 6th. Raymond James reiterated a "strong-buy" rating and issued a $360.00 price objective (down previously from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Finally, Truist Financial lowered their price objective on The Cigna Group from $390.00 to $375.00 and set a "buy" rating on the stock in a research report on Tuesday, February 4th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, The Cigna Group currently has a consensus rating of "Buy" and a consensus price target of $373.25.

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.