Vinva Investment Management Ltd Raises Stock Holdings in The Cigna Group (NYSE:CI)

Vinva Investment Management Ltd lifted its holdings in The Cigna Group (NYSE:CI) by 19.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,974 shares of the health services provider’s stock after buying 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.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. CreativeOne Wealth LLC raised its holdings in shares of The Cigna Group by 3.0% in the third quarter. CreativeOne Wealth LLC now owns 1,219 shares of the health services provider’s stock worth $422,000 after buying an additional 35 shares during the period. Hudson Edge Investment Partners Inc. raised 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 worth $520,000 after buying an additional 36 shares during the period. Meridian Wealth Management LLC raised its holdings in shares of The Cigna Group by 1.0% in the fourth quarter. Meridian Wealth Management LLC now owns 3,670 shares of the health services provider’s stock worth $1,013,000 after buying an additional 37 shares during the period. Smithfield Trust Co grew its stake in The Cigna Group by 3.6% in the third quarter. Smithfield Trust Co now owns 1,080 shares of the health services provider’s stock worth $373,000 after purchasing an additional 38 shares in the last quarter. Finally, Jacobi Capital Management LLC grew its stake 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 in the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CI has been the topic of several research analyst reports. Cantor Fitzgerald dropped their price objective on The Cigna Group from $400.00 to $350.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Wells Fargo & Company dropped their price objective on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Truist Financial dropped their price objective on The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. Royal Bank of Canada set a $355.00 price objective on The Cigna Group in a research note 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 objective on the stock. in a research note on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, The Cigna Group currently has a consensus rating of “Buy” and a consensus price target of $372.31.

Insider Buying and Selling

In other The Cigna Group news, Director Elder Granger sold 2,376 shares of The Cigna Group stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $310.35, for a total transaction of $737,391.60. Following the completion of the transaction, the director now owns 5,471 shares in the company, valued at approximately $1,697,924.85. This trade represents a 30.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Nicole S. Jones sold 4,904 shares of The Cigna Group stock in a transaction dated Monday, March 3rd. The shares were 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 $9,065,198.52. The trade was a 14.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,751 shares of company stock worth $13,603,991 in the last 90 days. Insiders own 0.60% of the company’s stock.

The Cigna Group Stock Down 0.5 %

The Cigna Group stock opened at $320.74 on Thursday. 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 stock has a market capitalization of $87.78 billion, a price-to-earnings ratio of 26.20, a PEG ratio of 0.98 and a beta of 0.53. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The business has a fifty day moving average price of $299.23 and a 200-day moving average price of $315.68.

The Cigna Group (NYSE:CI) last issued its earnings results 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 return on equity of 18.61% and a net margin of 1.39%. During the same period in the previous year, the business posted $6.79 earnings per share. Equities research analysts forecast that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be paid a $1.51 dividend. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date is Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a yield of 1.88%. The Cigna Group’s dividend payout ratio (DPR) is 49.35%.

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.