FIL Ltd Has $24.71 Million Position in The Cigna Group (NYSE:CI)

FIL Ltd cut its position in shares of The Cigna Group (NYSE:CI - Free Report) by 87.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 89,478 shares of the health services provider's stock after selling 623,374 shares during the period. FIL Ltd's holdings in The Cigna Group were worth $24,708,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CI. Sterling Financial Group Inc. bought a new stake in shares of The Cigna Group in the 4th quarter worth about $4,367,000. Principal Financial Group Inc. raised its stake in shares of The Cigna Group by 3.6% in the third quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider's stock valued at $112,216,000 after acquiring an additional 11,228 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. raised its stake in shares of 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. grew its position in The Cigna Group by 2.8% during the 4th quarter. Valley Wealth Managers Inc. now owns 56,933 shares of the health services provider's stock worth $15,721,000 after acquiring an additional 1,548 shares during the last quarter. Finally, Pine Valley Investments Ltd Liability Co raised its position in The Cigna Group by 28.3% in the 3rd 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 purchasing an additional 3,466 shares during the last quarter. 86.99% of the stock is owned by institutional investors.

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The Cigna Group Stock Up 1.6 %

NYSE:CI traded up $5.35 on Wednesday, hitting $333.98. 365,645 shares of the company's stock were exchanged, compared to its average volume of 1,683,639. The company has a market cap of $91.40 billion, a P/E ratio of 27.29, a price-to-earnings-growth ratio of 0.98 and a beta of 0.51. The firm has a 50-day moving average price of $313.58 and a 200-day moving average price of $311.06. 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 has a 52 week low of $262.03 and a 52 week high of $370.83.

The Cigna Group (NYSE:CI - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing the consensus estimate 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 last year, the business posted $6.79 EPS. As a group, analysts expect that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 1.81%. 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 payout ratio is 49.35%.

Insider Buying and Selling at The Cigna Group

In other news, insider Nicole S. Jones sold 4,904 shares of the company's stock in a transaction that occurred on 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 transaction, the insider now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David Cordani sold 26,527 shares of The Cigna Group stock in a transaction that occurred on Monday, March 3rd. The stock was 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 directly owns 127,767 shares of the company's stock, valued at approximately $39,367,568.04. The trade was a 17.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,751 shares of company stock worth $13,603,991 over the last 90 days. Company insiders own 0.70% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Royal Bank of Canada set a $355.00 price target on The Cigna Group in a report on Friday, January 31st. Truist Financial raised their price target on shares of The Cigna Group from $375.00 to $385.00 and gave the company a "buy" rating in a report on Friday, April 11th. Wells Fargo & Company lowered their target price on 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. Mizuho boosted their price objective on The Cigna Group from $360.00 to $384.00 and gave the stock an "outperform" rating in a report on Wednesday, April 9th. Finally, Stephens dropped their price target on shares of The Cigna Group from $410.00 to $380.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. 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 company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $373.56.

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.