Victory Capital Management Inc. Purchases 48,865 Shares of The Cigna Group (NYSE:CI)

Victory Capital Management Inc. grew its position in The Cigna Group (NYSE:CI) by 9.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 544,268 shares of the health services provider’s stock after acquiring an additional 48,865 shares during the period. Victory Capital Management Inc. owned 0.20% of The Cigna Group worth $150,294,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of CI. Swedbank AB lifted its stake in shares of The Cigna Group by 26.6% in the 3rd quarter. Swedbank AB now owns 570,283 shares of the health services provider’s stock valued at $197,569,000 after acquiring an additional 119,681 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of The Cigna Group by 42.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,877 shares of the health services provider’s stock valued at $650,000 after acquiring an additional 555 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of The Cigna Group by 4.5% in the 3rd quarter. Janney Montgomery Scott LLC now owns 31,664 shares of the health services provider’s stock valued at $10,970,000 after acquiring an additional 1,372 shares during the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of The Cigna Group in the 3rd quarter valued at $45,000. Finally, Van ECK Associates Corp raised its position in The Cigna Group by 1.8% during the 3rd quarter. Van ECK Associates Corp now owns 15,137 shares of the health services provider’s stock worth $4,807,000 after purchasing an additional 265 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CI. Morgan Stanley lowered their target price on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. StockNews.com raised The Cigna Group from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Oppenheimer lowered their target price on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a research report on Friday, January 31st. UBS Group lowered their target price on The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $348.00 target price (down from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $372.31.

The Cigna Group Stock Performance

Shares of CI opened at $309.84 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 50-day moving average of $291.31 and a 200-day moving average of $318.05. The company has a market cap of $86.18 billion, a PE ratio of 25.31, a P/E/G ratio of 0.98 and a beta of 0.54. The Cigna Group has a one year low of $262.03 and a one year high of $370.83.

The Cigna Group (NYSE:CI) last issued its earnings results 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 period last year, the company earned $6.79 earnings per share. On average, equities 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 announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be paid a $1.51 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a dividend yield of 1.95%. The Cigna Group’s dividend payout ratio (DPR) is currently 49.35%.

Insider Activity

In other The Cigna Group news, insider Nicole S. Jones sold 4,904 shares of The Cigna Group stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the completion of the transaction, the insider now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Cordani sold 26,527 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 $8,173,499.24. Following the transaction, the chief executive officer now owns 127,767 shares of the company’s stock, valued at $39,367,568.04. This trade represents a 17.19 % decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by company insiders.

About The Cigna Group

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.