The Cigna Group (NYSE:CI) Stock Holdings Increased by HighPoint Advisor Group LLC

HighPoint Advisor Group LLC grew its holdings in shares of The Cigna Group (NYSE:CI) by 0.8% in the fourth quarter, HoldingsChannel reports. The fund owned 6,114 shares of the health services provider’s stock after buying an additional 49 shares during the period. HighPoint Advisor Group LLC’s holdings in The Cigna Group were worth $1,805,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of CI. Norges Bank bought a new stake in The Cigna Group during the fourth quarter worth approximately $867,785,000. Raymond James Financial Inc. acquired a new position in shares of The Cigna Group during the 4th quarter valued at $313,911,000. GQG Partners LLC raised its stake in shares of The Cigna Group by 22.4% in the 4th quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider’s stock worth $1,110,520,000 after buying an additional 737,099 shares in the last quarter. Amundi lifted its holdings in shares of The Cigna Group by 19.9% in the fourth quarter. Amundi now owns 2,254,050 shares of the health services provider’s stock valued at $628,579,000 after buying an additional 374,865 shares during the period. Finally, Swedbank AB lifted its holdings in The Cigna Group by 55.1% in the 4th quarter. Swedbank AB now owns 884,406 shares of the health services provider’s stock valued at $244,220,000 after acquiring an additional 314,123 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

Analyst Upgrades and Downgrades

CI has been the subject of several recent research reports. Stephens cut 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 research note on Friday, January 31st. UBS Group dropped their price target on The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Barclays decreased their target price on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Morgan Stanley reduced their target price on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Finally, Truist Financial dropped their price target 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. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, The Cigna Group presently has a consensus rating of “Buy” and a consensus target price of $373.25.

Insider Activity at The Cigna Group

In related news, insider Nicole S. Jones sold 4,904 shares of The Cigna Group stock in a transaction on 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 completion of the sale, the insider now owns 29,421 shares of the company’s stock, valued at approximately $9,065,198.52. The trade was a 14.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David Cordani sold 26,527 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer now owns 127,767 shares of the company’s stock, valued at $39,367,568.04. This represents a 17.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,751 shares of company stock valued at $13,603,991. 0.70% of the stock is owned by corporate insiders.

The Cigna Group Stock Up 1.3 %

The Cigna Group stock opened at $329.33 on Tuesday. The Cigna Group has a twelve month low of $262.03 and a twelve 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 firm has a market cap of $90.13 billion, a PE ratio of 26.91, a P/E/G ratio of 0.98 and a beta of 0.53. The firm’s 50 day moving average price is $305.58 and its two-hundred day moving average price is $313.24.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share 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 quarter last year, the company earned $6.79 earnings per share. On average, research analysts predict that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently declared 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 1.83%. This is a positive change 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 currently 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.