Prudential Financial Inc. Has $146.12 Million Position in The Cigna Group (NYSE:CI)

Prudential Financial Inc. boosted its stake in shares of The Cigna Group (NYSE:CI - Free Report) by 14.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 529,148 shares of the health services provider's stock after acquiring an additional 66,201 shares during the quarter. Prudential Financial Inc. owned approximately 0.19% of The Cigna Group worth $146,119,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CI. TCTC Holdings LLC bought a new stake in shares of The Cigna Group during the fourth quarter valued at approximately $25,000. Collier Financial acquired a new stake in shares of The Cigna Group in the 4th quarter valued at $32,000. ORG Wealth Partners LLC bought a new stake in shares of The Cigna Group during the fourth quarter worth $34,000. Compagnie Lombard Odier SCmA acquired a new position in shares of The Cigna Group during the fourth quarter valued at $37,000. Finally, Heck Capital Advisors LLC bought a new position in The Cigna Group in the fourth quarter valued at about $53,000. Institutional investors and hedge funds own 86.99% of the company's stock.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, CEO David Cordani sold 26,527 shares of the business's 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 $8,173,499.24. Following 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Nicole S. Jones sold 4,904 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $1,511,020.48. Following the completion of the sale, the insider now directly owns 29,421 shares of the company's stock, valued at approximately $9,065,198.52. The trade was a 14.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,751 shares of company stock worth $13,603,991. Insiders own 0.60% of the company's stock.

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Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Raymond James reissued a "strong-buy" rating and set a $360.00 price objective (down from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Stephens cut 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 reiterated an "overweight" rating and set a $348.00 target price (down previously from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Barclays decreased 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. Finally, Oppenheimer reduced their price objective on shares of The Cigna Group from $400.00 to $375.00 and set an "outperform" rating on the stock in a research note on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $373.25.

The Cigna Group Stock Down 1.2 %

Shares of The Cigna Group stock traded down $3.76 during trading on Tuesday, reaching $316.64. The stock had a trading volume of 1,172,135 shares, compared to its average volume of 1,566,979. 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 company has a market capitalization of $86.66 billion, a price-to-earnings ratio of 25.87, a P/E/G ratio of 0.98 and a beta of 0.53. The stock has a fifty day moving average price of $302.25 and a two-hundred day moving average price of $314.19. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83.

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 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 posted $6.79 EPS. Sell-side analysts predict that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were paid a $1.51 dividend. This is a positive change from The Cigna Group's previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend was Wednesday, March 5th. The Cigna Group's payout ratio is presently 49.35%.

About The Cigna Group

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.