Renaissance Group LLC Has $998,000 Stake in The Cigna Group (NYSE:CI)

Renaissance Group LLC lessened its position in The Cigna Group (NYSE:CI - Free Report) by 96.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,613 shares of the health services provider's stock after selling 90,587 shares during the period. Renaissance Group LLC's holdings in The Cigna Group were worth $998,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CI. Norges Bank purchased a new position in shares of The Cigna Group in the 4th quarter valued at about $867,785,000. Raymond James Financial Inc. purchased a new position in The Cigna Group in the fourth quarter valued at about $313,911,000. GQG Partners LLC lifted its position in shares of The Cigna Group by 22.4% during the 4th quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider's stock valued at $1,110,520,000 after acquiring an additional 737,099 shares during the period. Massachusetts Financial Services Co. MA grew its holdings 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 worth $3,191,151,000 after acquiring an additional 501,320 shares during the period. Finally, Amundi increased its position in shares of The Cigna Group by 19.9% in the fourth quarter. Amundi now owns 2,254,050 shares of the health services provider's stock valued at $628,579,000 after buying an additional 374,865 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Stock Performance

CI stock traded down $1.83 during midday trading on Monday, reaching $328.36. The company had a trading volume of 377,799 shares, compared to its average volume of 1,835,343. 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 stock has a 50 day moving average price of $312.04 and a 200 day moving average price of $311.07. The firm has a market capitalization of $89.86 billion, a PE ratio of 26.83, a P/E/G ratio of 0.98 and a beta of 0.51. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83.

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The Cigna Group (NYSE:CI - Get Free Report) last released 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 return on equity of 18.61% and a net margin of 1.39%. During the same quarter last year, the firm posted $6.79 earnings per share. Analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors 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 1.84%. The ex-dividend date was Wednesday, March 5th. This is a positive change from The Cigna Group's previous quarterly dividend of $1.40. The Cigna Group's dividend payout ratio (DPR) is currently 49.35%.

Insider Buying and Selling

In other news, CEO David Cordani sold 26,527 shares of The Cigna Group 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 $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 sale was disclosed in a document filed with the SEC, which is accessible 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 transaction of $1,511,020.48. Following the sale, the insider now directly owns 29,421 shares of the company's stock, valued at approximately $9,065,198.52. This represents a 14.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,751 shares of company stock valued at $13,603,991 over the last quarter. Corporate insiders own 0.70% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CI. Mizuho lifted 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. Piper Sandler reiterated an "overweight" rating and set a $348.00 target price (down from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Wells Fargo & Company dropped their price objective on The Cigna Group from $370.00 to $341.00 and set an "equal weight" rating for the company in a report on Tuesday, February 4th. Royal Bank of Canada set a $355.00 price target on shares of The Cigna Group in a report on Friday, January 31st. Finally, Sanford C. Bernstein cut The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 price objective on the stock. in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, The Cigna Group presently has an average rating of "Buy" and a consensus price target of $375.00.

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.