Lyrical Asset Management LP Boosts Stock Position in The Cigna Group (NYSE:CI)

Lyrical Asset Management LP boosted its holdings in The Cigna Group (NYSE:CI - Free Report) by 0.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 807,649 shares of the health services provider's stock after acquiring an additional 3,183 shares during the quarter. The Cigna Group accounts for about 3.3% of Lyrical Asset Management LP's investment portfolio, making the stock its 14th largest position. Lyrical Asset Management LP owned 0.29% of The Cigna Group worth $223,024,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of brokerages have commented on CI. Guggenheim started coverage on The Cigna Group in a research note on Wednesday. They issued a "buy" rating and a $384.00 price target on the stock. UBS Group lowered their price target on shares of The Cigna Group from $410.00 to $390.00 and set a "buy" rating for the company in a report on Monday, February 3rd. Raymond James reissued a "strong-buy" rating and issued a $360.00 price target (down previously from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Wells Fargo & Company lowered their price objective on shares of The Cigna Group from $370.00 to $341.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 4th. Finally, Truist Financial increased their target price on shares of The Cigna Group from $375.00 to $385.00 and gave the stock a "buy" rating in a report on Friday. 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. Based on data from MarketBeat, The Cigna Group currently has an average rating of "Buy" and an average price target of $375.00.

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Insider Transactions at The Cigna Group

In other news, Director Elder Granger sold 2,376 shares of The Cigna Group stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $310.35, for a total value of $737,391.60. Following the completion of the transaction, the director now owns 5,471 shares in the company, valued at approximately $1,697,924.85. The trade was a 30.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Cordani sold 26,527 shares of the stock in a transaction 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 sale, the chief executive officer now owns 127,767 shares in the company, valued at $39,367,568.04. The trade was a 17.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,751 shares of company stock worth $13,603,991 in the last three months. Insiders own 0.70% of the company's stock.

The Cigna Group Price Performance

Shares of CI stock traded up $2.53 during trading hours on Friday, hitting $329.80. The stock had a trading volume of 636,195 shares, compared to its average volume of 1,683,293. The stock's 50-day moving average price is $311.28 and its two-hundred day moving average price is $311.44. The Cigna Group has a one year low of $262.03 and a one year high of $370.83. The stock has a market capitalization of $90.26 billion, a price-to-earnings ratio of 26.89, a PEG ratio of 0.98 and a beta of 0.51. 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 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 (EPS) 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 in the prior year, the company posted $6.79 earnings per share. Equities analysts forecast that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The firm also recently disclosed 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 boost from The Cigna Group's previous quarterly dividend of $1.40. 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. The Cigna Group's dividend payout ratio (DPR) is presently 49.35%.

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.