Ossiam Purchases 10,550 Shares of The Cigna Group (NYSE:CI)

Ossiam boosted its stake in The Cigna Group (NYSE:CI - Free Report) by 82.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,421 shares of the health services provider's stock after acquiring an additional 10,550 shares during the period. Ossiam's holdings in The Cigna Group were worth $6,467,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of The Cigna Group in the fourth quarter valued at approximately $867,785,000. Raymond James Financial Inc. bought a new stake in The Cigna Group during the 4th quarter valued at $313,911,000. GQG Partners LLC boosted its holdings in shares of The Cigna Group by 22.4% in 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 acquiring an additional 737,099 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of The Cigna Group by 4.5% in the fourth 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 purchasing an additional 501,320 shares in the last quarter. Finally, Amundi raised its stake 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 valued at $628,579,000 after purchasing an additional 374,865 shares during the period. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Truist Financial lifted their target price on The Cigna Group from $375.00 to $385.00 and gave the company a "buy" rating in a report on Friday, April 11th. Wells Fargo & Company decreased their price target on shares of The Cigna Group from $370.00 to $341.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 4th. Mizuho boosted their target price 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. Guggenheim started coverage on The Cigna Group in a report on Wednesday, April 9th. They issued a "buy" rating and a $384.00 price target on the stock. Finally, Morgan Stanley decreased their price objective on shares of The Cigna Group from $403.00 to $379.00 and set an "overweight" rating on the stock in a research report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, The Cigna Group currently has an average rating of "Buy" and a consensus target price of $373.56.

The Cigna Group Stock Down 0.4 %

NYSE:CI traded down $1.50 during mid-day trading on Friday, hitting $334.21. 619,985 shares of the company's stock were exchanged, compared to its average volume of 1,694,145. The Cigna Group has a one year low of $262.03 and a one year high of $370.83. The business has a fifty day moving average price of $319.00 and a 200 day moving average price of $310.75. The company has a market cap of $91.46 billion, a PE ratio of 27.36, a P/E/G ratio of 0.98 and a beta of 0.51. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72.

The Cigna Group (NYSE:CI - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing analysts' consensus estimates 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 period in the prior year, the business posted $6.79 EPS. Equities analysts predict that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be paid a $1.51 dividend. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $6.04 annualized dividend and a dividend yield of 1.81%. The Cigna Group's dividend payout ratio is presently 49.35%.

Insider Activity

In other news, Director Elder Granger sold 2,376 shares of The Cigna Group stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $310.35, for a total value of $737,391.60. Following the completion of the sale, the director now directly owns 5,471 shares in the company, valued at $1,697,924.85. The trade was a 30.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Noelle K. Eder sold 9,944 shares of the stock in a transaction that occurred on 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 owns 13,406 shares in the company, valued at approximately $4,289,920. This trade represents a 42.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,751 shares of company stock worth $13,603,991 over the last 90 days. 0.70% of the stock is currently owned by insiders.

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.