Bridgewater Associates LP Purchases 255,646 Shares of The Cigna Group (NYSE:CI)

Bridgewater Associates LP lifted its position in The Cigna Group (NYSE:CI - Free Report) by 78.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 579,482 shares of the health services provider's stock after acquiring an additional 255,646 shares during the period. The Cigna Group makes up approximately 0.7% of Bridgewater Associates LP's holdings, making the stock its 18th biggest holding. Bridgewater Associates LP owned 0.21% of The Cigna Group worth $160,018,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Rossby Financial LCC acquired a new position in The Cigna Group in the fourth quarter valued at about $211,000. Aware Super Pty Ltd as trustee of Aware Super acquired a new position in shares of The Cigna Group in the 4th quarter valued at approximately $9,274,000. Canada Post Corp Registered Pension Plan bought a new stake in The Cigna Group during the 4th quarter worth approximately $1,289,000. Belpointe Asset Management LLC raised its holdings in The Cigna Group by 30.7% during the 4th quarter. Belpointe Asset Management LLC now owns 2,237 shares of the health services provider's stock worth $618,000 after buying an additional 526 shares during the period. Finally, Mariner LLC lifted its stake in The Cigna Group by 12.9% in the fourth quarter. Mariner LLC now owns 50,728 shares of the health services provider's stock valued at $14,008,000 after buying an additional 5,808 shares in the last quarter. Institutional investors own 86.99% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Guggenheim started coverage on shares of The Cigna Group in a research report on Wednesday, April 9th. They set a "buy" rating and a $384.00 price objective for the company. Cantor Fitzgerald lifted their price target on The Cigna Group from $350.00 to $365.00 and gave the company an "overweight" rating in a research note on Thursday, March 20th. Piper Sandler reissued an "overweight" rating and set a $348.00 price target (down from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Raymond James reiterated a "strong-buy" rating and set a $360.00 price objective (down previously from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Finally, Sanford C. Bernstein cut shares of The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 target price for the company. in a research note on Thursday, February 6th. Two research 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. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $373.56.

The Cigna Group Price Performance

Shares of CI traded up $0.53 during trading hours on Friday, hitting $329.97. 2,847,268 shares of the company were exchanged, compared to its average volume of 1,694,350. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The firm's fifty day moving average is $315.87 and its 200 day moving average is $310.74. 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 company has a market cap of $90.30 billion, a price-to-earnings ratio of 26.96, 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 EPS for the quarter, missing the consensus estimate 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 quarter in the prior year, the business earned $6.79 earnings per share. On average, equities analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend was Wednesday, March 5th. This is an increase from The Cigna Group's previous quarterly dividend of $1.40. The Cigna Group's dividend payout ratio (DPR) is currently 49.35%.

Insider Activity

In related news, CEO David Cordani sold 26,527 shares of the firm's stock in a transaction 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 sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Nicole S. Jones sold 4,904 shares of the company's stock in a transaction dated 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 completion of the transaction, 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 quarter, insiders have sold 43,751 shares of company stock worth $13,603,991. Insiders own 0.70% of the company's stock.

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.