Price T Rowe Associates Inc. MD Has $3.03 Billion Holdings in The Cigna Group (NYSE:CI)

Price T Rowe Associates Inc. MD decreased its holdings in The Cigna Group (NYSE:CI - Free Report) by 9.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,962,479 shares of the health services provider's stock after selling 1,117,751 shares during the period. Price T Rowe Associates Inc. MD owned about 3.94% of The Cigna Group worth $3,027,180,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. TCTC Holdings LLC purchased a new stake in The Cigna Group in the 4th quarter worth approximately $25,000. Collier Financial acquired a new position in shares of The Cigna Group in the fourth quarter worth $32,000. ORG Wealth Partners LLC purchased a new stake in shares of The Cigna Group during the fourth quarter worth $34,000. Compagnie Lombard Odier SCmA acquired a new stake in The Cigna Group during the fourth quarter valued at $37,000. Finally, Transce3nd LLC purchased a new position in The Cigna Group in the fourth quarter valued at about $38,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Stock Performance

NYSE CI opened at $336.89 on Wednesday. The company's fifty day moving average is $317.24 and its two-hundred day moving average is $310.60. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. 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 firm has a market capitalization of $92.20 billion, a price-to-earnings ratio of 27.52, 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 earnings results 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 return on equity of 18.61% and a net margin of 1.39%. During the same period last year, the company earned $6.79 EPS. Equities research analysts forecast that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were given a $1.51 dividend. This is a boost from The Cigna Group's previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend was Wednesday, March 5th. The Cigna Group's dividend payout ratio (DPR) is 49.35%.

Insiders Place Their Bets

In related 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 value of $1,511,020.48. Following the sale, the insider now owns 29,421 shares of the company's stock, valued at $9,065,198.52. The trade was a 14.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Noelle K. Eder sold 9,944 shares of the company's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $320.00, for a total value of $3,182,080.00. Following the completion of the sale, the insider now owns 13,406 shares in the company, valued at $4,289,920. This trade represents a 42.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,751 shares of company stock worth $13,603,991 over the last 90 days. Corporate insiders own 0.70% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CI shares. UBS Group cut their price target 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. Royal Bank of Canada set a $355.00 target price on shares of The Cigna Group in a research note on Friday, January 31st. Piper Sandler reissued an "overweight" rating and issued a $348.00 target price (down from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Guggenheim initiated coverage on shares of The Cigna Group in a report on Wednesday, April 9th. They set a "buy" rating and a $384.00 price target on the stock. Finally, Stephens decreased their price objective on shares of The Cigna Group from $410.00 to $380.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $373.56.

The Cigna Group Company 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.

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