Vanguard Group Inc. Has $7.21 Billion Stake in The Cigna Group (NYSE:CI)

Vanguard Group Inc. lifted its position in The Cigna Group (NYSE:CI - Free Report) by 0.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 26,108,954 shares of the health services provider's stock after acquiring an additional 17,724 shares during the quarter. Vanguard Group Inc. owned approximately 9.39% of The Cigna Group worth $7,209,727,000 as of its most recent filing with the SEC.

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

The Cigna Group Stock Performance

NYSE:CI traded up $3.14 during trading hours on Thursday, hitting $324.37. 322,665 shares of the company traded hands, compared to its average volume of 1,560,118. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The firm has a 50-day moving average of $302.98 and a 200 day moving average of $314.24. The stock has a market capitalization of $88.77 billion, a price-to-earnings ratio of 26.51, a P/E/G ratio of 0.98 and a beta of 0.53.

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The Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 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 quarter last year, the business posted $6.79 EPS. On average, analysts forecast that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The company 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 represents a $6.04 annualized dividend and a dividend yield of 1.86%. The ex-dividend date was Wednesday, March 5th. This is a positive change from The Cigna Group's previous quarterly dividend of $1.40. The Cigna Group's dividend payout ratio (DPR) is presently 49.35%.

Insider Activity

In related news, insider Noelle K. Eder sold 9,944 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the completion of the transaction, the insider now owns 13,406 shares in the company, valued at $4,289,920. This trade represents a 42.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Cordani sold 26,527 shares of the business's 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 completion of the sale, the chief executive officer now directly owns 127,767 shares in the company, valued at approximately $39,367,568.04. This represents a 17.19 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,751 shares of company stock worth $13,603,991. Company insiders own 0.60% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Sanford C. Bernstein downgraded The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 target price on the stock. in a research note on Thursday, February 6th. Oppenheimer dropped 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. Royal Bank of Canada set a $355.00 target price on shares of The Cigna Group in a research note on Friday, January 31st. UBS Group dropped their price target on shares of The Cigna Group from $410.00 to $390.00 and set a "buy" rating on the stock in a research note on Monday, February 3rd. Finally, Truist Financial reduced their price objective on shares of The Cigna Group from $390.00 to $375.00 and set a "buy" rating for the company in a research note on Tuesday, February 4th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, The Cigna Group has an average rating of "Buy" and a consensus target price of $373.25.

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.