GQG Partners LLC Has $1.11 Billion Position in The Cigna Group (NYSE:CI)

GQG Partners LLC grew its position in The Cigna Group (NYSE:CI) by 22.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,021,582 shares of the health services provider’s stock after purchasing an additional 737,099 shares during the period. The Cigna Group comprises about 1.6% of GQG Partners LLC’s portfolio, making the stock its 23rd largest position. GQG Partners LLC’s holdings in The Cigna Group were worth $1,110,520,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CI. FMR LLC increased its stake in The Cigna Group by 2.0% during the 3rd quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock worth $4,929,978,000 after purchasing an additional 279,880 shares in the last quarter. Geode Capital Management LLC increased its position in shares of The Cigna Group by 0.4% during the third quarter. Geode Capital Management LLC now owns 5,855,443 shares of the health services provider’s stock worth $2,021,563,000 after acquiring an additional 22,408 shares in the last quarter. Amundi raised its holdings in shares of The Cigna Group by 19.9% during the fourth 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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in The Cigna Group by 2.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,168,959 shares of the health services provider’s stock valued at $751,414,000 after acquiring an additional 44,810 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in The Cigna Group by 3.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,977,758 shares of the health services provider’s stock worth $546,138,000 after purchasing an additional 64,138 shares during the period. 86.99% of the stock is owned by institutional investors.

The Cigna Group Stock Up 1.3 %

CI stock opened at $320.79 on Tuesday. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The business’s 50 day simple moving average is $301.62 and its 200 day simple moving average is $314.45. 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 market capitalization of $87.79 billion, a PE ratio of 26.21, a PEG ratio of 0.98 and a beta of 0.53.

The Cigna Group (NYSE:CI) last released its quarterly earnings data 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 net margin of 1.39% and a return on equity of 18.61%. During the same quarter last year, the company earned $6.79 earnings per share. As a group, research analysts anticipate 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 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend was Wednesday, March 5th. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s payout ratio is currently 49.35%.

Insider Activity

In other The Cigna Group news, insider Noelle K. Eder sold 9,944 shares of the stock in a transaction 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 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 at this hyperlink. Also, CEO David Cordani sold 26,527 shares of the business’s stock in a transaction dated 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 completion of 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,751 shares of company stock valued at $13,603,991. 0.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on CI shares. Cantor Fitzgerald lifted their price target on The Cigna Group from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. Barclays cut their target price on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Royal Bank of Canada set a $355.00 price target on shares of The Cigna Group in a research note on Friday, January 31st. UBS Group lowered their price objective on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Finally, Stephens reduced their target price on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, The Cigna Group has an average rating of “Buy” and an average 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.