DnB Asset Management AS Purchases 8,139 Shares of The Cigna Group (NYSE:CI)

DnB Asset Management AS boosted its position in The Cigna Group (NYSE:CI) by 6.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 130,201 shares of the health services provider’s stock after acquiring an additional 8,139 shares during the quarter. DnB Asset Management AS’s holdings in The Cigna Group were worth $35,954,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Level Four Advisory Services LLC lifted its position in shares of The Cigna Group by 12.1% during the 4th quarter. Level Four Advisory Services LLC now owns 1,941 shares of the health services provider’s stock worth $536,000 after buying an additional 210 shares during the last quarter. Orion Portfolio Solutions LLC lifted its holdings in shares of The Cigna Group by 13.2% in the fourth quarter. Orion Portfolio Solutions LLC now owns 44,991 shares of the health services provider’s stock worth $12,424,000 after acquiring an additional 5,258 shares during the last quarter. Pictet Asset Management Holding SA lifted its holdings in shares of The Cigna Group by 31.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 334,686 shares of the health services provider’s stock worth $92,420,000 after acquiring an additional 79,204 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in shares of The Cigna Group by 6.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 112,113 shares of the health services provider’s stock valued at $30,959,000 after purchasing an additional 6,634 shares during the last quarter. Finally, New Age Alpha Advisors LLC grew its holdings in shares of The Cigna Group by 15,657.1% during the 4th quarter. New Age Alpha Advisors LLC now owns 4,412 shares of the health services provider’s stock valued at $1,218,000 after purchasing an additional 4,384 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Stock Up 1.1 %

The Cigna Group stock opened at $324.74 on Friday. The company has a market capitalization of $88.88 billion, a PE ratio of 26.53, a PEG ratio of 0.98 and a beta of 0.53. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The firm’s fifty day moving average is $303.86 and its 200 day moving average is $314.31. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share 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 business posted $6.79 EPS. As a group, sell-side 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 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 is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $6.04 annualized dividend and a dividend yield of 1.86%. The Cigna Group’s payout ratio is currently 49.35%.

Insider Transactions at The Cigna Group

In other news, CEO David Cordani sold 26,527 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value 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 $39,367,568.04. This represents a 17.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Nicole S. Jones sold 4,904 shares of The Cigna Group stock in a transaction that occurred 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 transaction, the insider now directly owns 29,421 shares in the company, valued at approximately $9,065,198.52. The trade was a 14.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,751 shares of company stock valued at $13,603,991 over the last ninety days. 0.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on CI. Stephens cut their target price on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Sanford C. Bernstein cut The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 target price for the company. in a report on Thursday, February 6th. Oppenheimer cut their price target on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a research note on Friday, January 31st. Royal Bank of Canada set a $355.00 price objective on The Cigna Group in a research note on Friday, January 31st. Finally, StockNews.com upgraded shares of The Cigna Group from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Two 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 company’s stock. According to MarketBeat.com, The Cigna Group currently has an average rating of “Buy” and an average target price of $373.25.

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.