The Cigna Group (NYSE:CI) Shares Acquired by Norinchukin Bank The

Norinchukin Bank The raised its holdings in shares of The Cigna Group (NYSE:CI - Free Report) by 11.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,290 shares of the health services provider's stock after purchasing an additional 1,394 shares during the period. Norinchukin Bank The's holdings in The Cigna Group were worth $3,670,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ossiam boosted its holdings in The Cigna Group by 82.0% in the fourth quarter. Ossiam now owns 23,421 shares of the health services provider's stock worth $6,467,000 after acquiring an additional 10,550 shares in the last quarter. Capital World Investors boosted its stake in The Cigna Group by 2.6% in the 4th quarter. Capital World Investors now owns 1,238,232 shares of the health services provider's stock worth $341,925,000 after purchasing an additional 30,906 shares in the last quarter. Dimensional Fund Advisors LP grew its position in The Cigna Group by 0.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,450,463 shares of the health services provider's stock worth $676,655,000 after purchasing an additional 18,059 shares during the last quarter. Forum Financial Management LP raised its holdings in shares of The Cigna Group by 3.8% in the fourth quarter. Forum Financial Management LP now owns 4,652 shares of the health services provider's stock worth $1,285,000 after buying an additional 170 shares during the last quarter. Finally, GeoWealth Management LLC lifted its stake in shares of The Cigna Group by 47.9% during the fourth quarter. GeoWealth Management LLC now owns 2,445 shares of the health services provider's stock worth $675,000 after buying an additional 792 shares during the period. Hedge funds and other institutional investors own 86.99% of the company's stock.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, insider Nicole S. Jones sold 4,904 shares of the business's stock in a transaction 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 directly owns 29,421 shares in the company, valued at approximately $9,065,198.52. The trade was a 14.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Elder Granger sold 2,376 shares of The Cigna Group stock in a transaction on Friday, March 14th. The stock was sold at an average price of $310.35, for a total value of $737,391.60. Following the transaction, the director now directly owns 5,471 shares of the company's stock, valued at $1,697,924.85. This trade represents a 30.28 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,751 shares of company stock valued at $13,603,991. Corporate insiders own 0.70% of the company's stock.

Analyst Ratings Changes

CI has been the topic of a number of recent research reports. Robert W. Baird dropped their target price on The Cigna Group from $388.00 to $362.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Stephens dropped their price objective 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. Piper Sandler reissued an "overweight" rating and set a $348.00 target price (down previously from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Oppenheimer lowered their price target on shares of The Cigna Group from $400.00 to $375.00 and set an "outperform" rating on the stock in a report on Friday, January 31st. Finally, Barclays reduced their price objective on The Cigna Group from $420.00 to $339.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $373.56.

The Cigna Group Stock Performance

Shares of The Cigna Group stock traded down $1.16 on Thursday, reaching $335.53. 1,341,301 shares of the stock were exchanged, compared to its average volume of 1,695,961. The firm has a market capitalization of $91.83 billion, a PE ratio of 27.41, a PEG ratio of 0.98 and a beta of 0.51. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The business has a fifty day moving average price of $318.14 and a two-hundred day moving average price of $310.78. 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 (NYSE:CI - Get Free Report) last released its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (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 last year, the firm posted $6.79 EPS. As a group, research analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date is Tuesday, June 3rd. The Cigna Group's dividend payout ratio is currently 49.35%.

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.