NFP Retirement Inc. purchased a new position in shares of The Cigna Group (NYSE:CI - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,130 shares of the health services provider's stock, valued at approximately $312,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of CI. Massachusetts Financial Services Co. MA raised its stake in shares of The Cigna Group by 4.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 11,556,278 shares of the health services provider's stock valued at $3,191,151,000 after acquiring an additional 501,320 shares during the period. Geode Capital Management LLC increased its holdings in The Cigna Group by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 5,957,180 shares of the health services provider's stock valued at $1,640,878,000 after purchasing an additional 101,737 shares during the last quarter. GQG Partners LLC lifted its stake in The Cigna Group by 22.4% during the fourth quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider's stock worth $1,110,520,000 after purchasing an additional 737,099 shares in the last quarter. Norges Bank purchased a new position in shares of The Cigna Group during the fourth quarter worth $867,785,000. Finally, Franklin Resources Inc. grew its stake in shares of The Cigna Group by 10.8% in the fourth quarter. Franklin Resources Inc. now owns 2,927,223 shares of the health services provider's stock valued at $808,323,000 after buying an additional 286,515 shares in the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.
The Cigna Group Stock Performance
NYSE:CI traded up $0.87 during trading hours on Wednesday, reaching $329.50. 1,311,497 shares of the company's stock were exchanged, compared to its average volume of 1,832,634. 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 1-year low of $262.03 and a 1-year high of $370.83. The company has a 50-day moving average of $313.58 and a 200 day moving average of $311.06. The firm has a market capitalization of $90.18 billion, a price-to-earnings ratio of 26.92, a P/E/G ratio of 0.98 and a beta of 0.51.
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 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 previous year, the firm posted $6.79 EPS. Research analysts anticipate that The Cigna Group will post 29.77 EPS for the current year.
The Cigna Group Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were paid a dividend of $1.51 per share. 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 ex-dividend date of this dividend was Wednesday, March 5th. The Cigna Group's dividend payout ratio is 49.35%.
Insiders Place Their Bets
In other news, CEO David Cordani sold 26,527 shares of The Cigna Group 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 completion of the transaction, the chief executive officer now owns 127,767 shares of the company's stock, valued at $39,367,568.04. The trade was a 17.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Nicole S. Jones sold 4,904 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 $1,511,020.48. Following the transaction, 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 quarter, insiders sold 43,751 shares of company stock worth $13,603,991. 0.70% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
Several research firms recently issued reports on CI. Barclays decreased their target price on The Cigna Group from $420.00 to $339.00 and set an "overweight" rating on the stock in a research note on Friday, January 31st. Robert W. Baird dropped their price objective on shares of The Cigna Group from $388.00 to $362.00 and set an "outperform" rating for the company in a report on Tuesday. Stephens reduced their target price on shares of The Cigna Group from $410.00 to $380.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. Mizuho upped their price objective on The Cigna Group from $360.00 to $384.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 9th. Finally, UBS Group lowered their target price on 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. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, The Cigna Group has a consensus rating of "Buy" and an average target price of $373.56.
Read Our Latest Analysis on The Cigna Group
About The Cigna Group
(
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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