Vinva Investment Management Ltd lifted its holdings in shares of The Cigna Group (NYSE:CI - Free Report) by 19.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,974 shares of the health services provider's stock after purchasing an additional 2,228 shares during the quarter. Vinva Investment Management Ltd's holdings in The Cigna Group were worth $3,845,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new position in The Cigna Group in the 4th quarter worth approximately $313,911,000. Amundi lifted its holdings in shares of The Cigna Group by 19.9% during the 4th quarter. Amundi now owns 2,254,050 shares of the health services provider's stock worth $628,579,000 after acquiring an additional 374,865 shares during the last quarter. Swedbank AB grew its position in The Cigna Group by 55.1% in the fourth quarter. Swedbank AB now owns 884,406 shares of the health services provider's stock worth $244,220,000 after acquiring an additional 314,123 shares in the last quarter. FMR LLC raised its position in The Cigna Group by 2.0% during the third quarter. FMR LLC now owns 14,230,397 shares of the health services provider's stock valued at $4,929,978,000 after purchasing an additional 279,880 shares in the last quarter. Finally, Proficio Capital Partners LLC raised its position in The Cigna Group by 34,280.8% during the fourth quarter. Proficio Capital Partners LLC now owns 238,603 shares of the health services provider's stock valued at $65,888,000 after purchasing an additional 237,909 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company's stock.
Analyst Ratings Changes
CI has been the topic of several recent research reports. Royal Bank of Canada set a $355.00 price objective on The Cigna Group in a research report on Friday, January 31st. Cantor Fitzgerald increased their price target 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. Oppenheimer lowered their price objective on shares of The Cigna Group from $400.00 to $375.00 and set an "outperform" rating for the company in a report on Friday, January 31st. Raymond James reaffirmed a "strong-buy" rating and set a $360.00 target price (down previously from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Finally, StockNews.com upgraded shares of The Cigna Group from a "hold" rating to a "buy" rating in a research report on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, The Cigna Group presently has a consensus rating of "Buy" and an average price target of $373.25.
Read Our Latest Report on The Cigna Group
Insiders Place Their Bets
In other news, insider Noelle K. Eder sold 9,944 shares of the company's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $320.00, for a total value of $3,182,080.00. Following the sale, the insider now directly owns 13,406 shares of the company's stock, valued at $4,289,920. This 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 dated 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 directly 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. In the last quarter, insiders have sold 43,751 shares of company stock worth $13,603,991. Company insiders own 0.60% of the company's stock.
The Cigna Group Trading Up 1.3 %
CI stock traded up $4.14 on Monday, reaching $320.79. The company's stock had a trading volume of 1,287,842 shares, compared to its average volume of 1,565,016. The firm has a market cap of $87.79 billion, a PE ratio of 26.21, a PEG ratio of 0.98 and a beta of 0.53. The business has a fifty day simple moving average of $300.83 and a two-hundred day simple moving average of $314.69. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66.
The Cigna Group (NYSE:CI - Get Free Report) last posted 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 return on equity of 18.61% and a net margin of 1.39%. During the same quarter in the previous year, the firm earned $6.79 earnings per share. As a group, research 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. Shareholders of record on Wednesday, March 5th were given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.88%. This is a boost from The Cigna Group's previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Wednesday, March 5th. The Cigna Group's payout ratio is presently 49.35%.
About The Cigna Group
(
Free Report)
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.
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