Wells Fargo & Company MN Has $167.69 Million Stake in The Cigna Group (NYSE:CI)

Wells Fargo & Company MN grew its holdings in shares of The Cigna Group (NYSE:CI - Free Report) by 0.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 607,272 shares of the health services provider's stock after buying an additional 3,155 shares during the period. Wells Fargo & Company MN owned 0.22% of The Cigna Group worth $167,692,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in CI. Kesler Norman & Wride LLC increased its stake in The Cigna Group by 1.8% during the 4th quarter. Kesler Norman & Wride LLC now owns 2,033 shares of the health services provider's stock valued at $562,000 after buying an additional 35 shares during the period. Hudson Edge Investment Partners Inc. boosted its holdings in shares of The Cigna Group by 1.9% in the fourth quarter. Hudson Edge Investment Partners Inc. now owns 1,883 shares of the health services provider's stock valued at $520,000 after acquiring an additional 36 shares in the last quarter. Meridian Wealth Management LLC increased its stake in shares of The Cigna Group by 1.0% during the fourth quarter. Meridian Wealth Management LLC now owns 3,670 shares of the health services provider's stock valued at $1,013,000 after acquiring an additional 37 shares during the period. Mindset Wealth Management LLC raised its holdings in The Cigna Group by 2.6% during the fourth quarter. Mindset Wealth Management LLC now owns 1,469 shares of the health services provider's stock worth $406,000 after purchasing an additional 37 shares in the last quarter. Finally, Jacobi Capital Management LLC lifted its position in The Cigna Group by 2.2% in the fourth quarter. Jacobi Capital Management LLC now owns 1,749 shares of the health services provider's stock worth $483,000 after purchasing an additional 38 shares during the period. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Wall Street Analyst Weigh In

A number of research firms have recently commented on CI. StockNews.com raised The Cigna Group from a "buy" rating to a "strong-buy" rating in a research note on Tuesday. UBS Group reduced their price objective on shares of The Cigna Group from $410.00 to $390.00 and set a "buy" rating for the company in a research report on Monday, February 3rd. Morgan Stanley dropped their target price on shares of The Cigna Group from $403.00 to $379.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. Oppenheimer reduced their target price 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. Finally, Sanford C. Bernstein cut The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 price target on the stock. in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $375.00.

Insider Buying and Selling

In related news, Director Elder Granger sold 2,376 shares of the 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 transaction, the director now owns 5,471 shares in the company, valued at approximately $1,697,924.85. This represents a 30.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO David Cordani sold 26,527 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the transaction, the chief executive officer now directly owns 127,767 shares in the company, valued at approximately $39,367,568.04. The trade was a 17.19 % decrease in their position. 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.

The Cigna Group Stock Up 0.7 %

NYSE:CI traded up $2.25 on Friday, hitting $329.52. 1,727,459 shares of the company's stock traded hands, compared to its average volume of 1,689,887. The company has a market cap of $90.18 billion, a PE ratio of 26.92, a price-to-earnings-growth ratio of 0.98 and a beta of 0.51. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. 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 firm has a 50-day moving average price of $312.04 and a 200-day moving average price of $311.31.

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 in the previous year, the company earned $6.79 EPS. Equities analysts anticipate that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were paid a $1.51 dividend. 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. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.83%. The Cigna Group's dividend payout ratio is 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.