The Cigna Group (NYSE:CI) Position Lifted by Cullen Capital Management LLC

Cullen Capital Management LLC raised its stake in The Cigna Group (NYSE:CI) by 7.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 13,773 shares of the health services provider’s stock after purchasing an additional 973 shares during the period. Cullen Capital Management LLC’s holdings in The Cigna Group were worth $3,803,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. TCTC Holdings LLC bought a new stake in The Cigna Group in the fourth quarter valued at about $25,000. Collier Financial acquired a new position in shares of The Cigna Group in the 4th quarter worth approximately $32,000. ORG Wealth Partners LLC bought a new stake in shares of The Cigna Group in the 4th quarter valued at approximately $34,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of The Cigna Group during the 4th quarter valued at approximately $37,000. Finally, Heck Capital Advisors LLC bought a new position in The Cigna Group during the fourth quarter worth $53,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CI shares. Royal Bank of Canada set a $355.00 target price on shares of The Cigna Group in a research note on Friday, January 31st. Raymond James reiterated a “strong-buy” rating and set a $360.00 price objective (down previously from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 29th. Barclays lowered their target price on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Finally, Cantor Fitzgerald raised their price target on The Cigna Group from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Thursday, March 20th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, The Cigna Group has a consensus rating of “Buy” and an average target price of $373.25.

Insiders Place Their Bets

In related 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 value of $737,391.60. Following the transaction, the director now owns 5,471 shares of the company’s stock, valued at approximately $1,697,924.85. This trade represents a 30.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Nicole S. Jones sold 4,904 shares of the company’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 $1,511,020.48. Following the sale, the insider now directly owns 29,421 shares of the company’s stock, valued at $9,065,198.52. This represents a 14.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,751 shares of company stock worth $13,603,991. 0.70% of the stock is owned by insiders.

The Cigna Group Price Performance

NYSE CI opened at $322.02 on Friday. The firm has a market capitalization of $88.13 billion, a PE ratio of 26.31, a P/E/G ratio of 0.98 and a beta of 0.50. 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 Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The company’s 50 day simple moving average is $308.72 and its 200 day simple moving average is $313.00.

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

The Cigna Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors 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 yield of 1.88%. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date was Wednesday, March 5th. The Cigna Group’s dividend payout ratio (DPR) is presently 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.