Cullen Capital Management LLC Purchases 973 Shares of The Cigna Group (NYSE:CI)

Cullen Capital Management LLC grew its holdings in The Cigna Group (NYSE:CI - Free Report) by 7.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,773 shares of the health services provider's stock after acquiring an additional 973 shares during the quarter. Cullen Capital Management LLC's holdings in The Cigna Group were worth $3,803,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of CI. Sterling Financial Group Inc. bought a new stake in The Cigna Group during the fourth quarter worth about $4,367,000. Principal Financial Group Inc. lifted its holdings in shares of The Cigna Group by 3.6% during the 3rd quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider's stock worth $112,216,000 after acquiring an additional 11,228 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. increased its stake in The Cigna Group by 1.1% in the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider's stock valued at $20,942,000 after acquiring an additional 858 shares during the last quarter. Valley Wealth Managers Inc. increased its stake in shares of The Cigna Group by 2.8% in the 4th quarter. Valley Wealth Managers Inc. now owns 56,933 shares of the health services provider's stock valued at $15,721,000 after purchasing an additional 1,548 shares during the last quarter. Finally, Pine Valley Investments Ltd Liability Co boosted its stake in The Cigna Group by 28.3% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 15,713 shares of the health services provider's stock valued at $5,444,000 after buying an additional 3,466 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company's stock.

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The Cigna Group Stock Performance

CI traded up $3.07 on Thursday, hitting $323.06. The company's stock had a trading volume of 814,992 shares, compared to its average volume of 1,679,945. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The firm has a market cap of $88.41 billion, a P/E ratio of 26.39, a price-to-earnings-growth ratio of 0.98 and a beta of 0.51. 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's 50 day simple moving average is $310.59 and its 200-day simple moving average is $311.62.

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 net margin of 1.39% and a return on equity of 18.61%. During the same period in the prior year, the business earned $6.79 EPS. Analysts forecast that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were issued a dividend of $1.51 per share. This is an increase 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 1.87%. The ex-dividend date was Wednesday, March 5th. The Cigna Group's payout ratio is currently 49.35%.

Insider Buying and Selling

In related news, CEO David Cordani sold 26,527 shares of The Cigna Group 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 transaction, the chief executive officer now owns 127,767 shares in the company, valued at $39,367,568.04. This trade represents a 17.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicole S. Jones sold 4,904 shares of the company'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 $1,511,020.48. Following the sale, the insider now 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,751 shares of company stock worth $13,603,991. Corporate insiders own 0.70% of the company's stock.

Wall Street Analyst Weigh In

CI has been the subject of a number of research reports. Truist Financial dropped their target price on shares of The Cigna Group from $390.00 to $375.00 and set a "buy" rating for the company in a report on Tuesday, February 4th. Cantor Fitzgerald raised their target price on shares of The Cigna Group from $350.00 to $365.00 and gave the company an "overweight" rating in a research report on Thursday, March 20th. Barclays lowered their price target on shares of The Cigna Group from $420.00 to $339.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Oppenheimer cut their price objective on The Cigna Group from $400.00 to $375.00 and set an "outperform" rating on the stock in a report on Friday, January 31st. Finally, Mizuho increased their target price on The Cigna Group from $360.00 to $384.00 and gave the company an "outperform" rating in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, The Cigna Group currently has a consensus rating of "Buy" and a consensus target price of $374.44.

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.