Rhenman & Partners Asset Management AB Raises Stake in The Cigna Group (NYSE:CI)

Rhenman & Partners Asset Management AB increased its holdings in shares of The Cigna Group (NYSE:CI - Free Report) by 88.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 78,385 shares of the health services provider's stock after acquiring an additional 36,700 shares during the quarter. The Cigna Group comprises 2.2% of Rhenman & Partners Asset Management AB's investment portfolio, making the stock its 13th biggest position. Rhenman & Partners Asset Management AB's holdings in The Cigna Group were worth $21,645,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of CI. Cullen Capital Management LLC boosted its position in shares of The Cigna Group by 7.6% during the 4th quarter. Cullen Capital Management LLC now owns 13,773 shares of the health services provider's stock valued at $3,803,000 after acquiring an additional 973 shares during the last quarter. Resona Asset Management Co. Ltd. acquired a new stake in shares of The Cigna Group during the 4th quarter worth approximately $24,849,000. Wells Fargo & Company MN lifted its holdings in The Cigna Group by 0.5% in the fourth quarter. Wells Fargo & Company MN now owns 607,272 shares of the health services provider's stock valued at $167,692,000 after acquiring an additional 3,155 shares during the last quarter. Unison Advisors LLC grew its position in The Cigna Group by 0.4% in the fourth quarter. Unison Advisors LLC now owns 12,394 shares of the health services provider's stock worth $3,422,000 after acquiring an additional 48 shares during the period. Finally, ExodusPoint Capital Management LP raised its position in The Cigna Group by 106.1% in the fourth quarter. ExodusPoint Capital Management LP now owns 22,616 shares of the health services provider's stock valued at $6,245,000 after purchasing an additional 11,641 shares during the period. Hedge funds and other institutional investors own 86.99% of the company's stock.

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Analyst Ratings Changes

A number of analysts recently issued reports on CI shares. 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 research report on Friday, January 31st. Guggenheim started coverage on shares of The Cigna Group in a research report on Wednesday. They set a "buy" rating and a $384.00 price target for the company. 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 report on Friday, January 31st. Cantor Fitzgerald boosted their target price on The Cigna Group from $350.00 to $365.00 and gave the company an "overweight" rating in a research report on Thursday, March 20th. Finally, StockNews.com upgraded The Cigna Group from a "buy" rating to a "strong-buy" rating in a report on Tuesday. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $374.44.

The Cigna Group Stock Performance

NYSE CI traded up $3.07 during trading hours on Thursday, hitting $323.06. The company had a trading volume of 814,992 shares, compared to its average volume of 1,679,945. The business has a 50 day moving average of $310.59 and a 200-day moving average of $311.62. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The company has a market cap of $88.41 billion, a PE ratio of 26.39, a price-to-earnings-growth ratio of 0.98 and a beta of 0.51.

The Cigna Group (NYSE:CI - Get Free Report) last issued 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 previous year, the firm posted $6.79 earnings per share. As a group, equities research analysts expect that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were paid a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend was Wednesday, March 5th. This is a boost from The Cigna Group's previous quarterly dividend of $1.40. The Cigna Group's dividend payout ratio is 49.35%.

Insiders Place Their Bets

In other The Cigna Group news, insider Noelle K. Eder sold 9,944 shares of the company's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $320.00, for a total value of $3,182,080.00. Following the sale, the insider now owns 13,406 shares of the company's stock, valued at approximately $4,289,920. This represents a 42.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Cordani sold 26,527 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were 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. This trade represents a 17.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,751 shares of company stock worth $13,603,991. 0.70% of the stock is 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.