Mackenzie Financial Corp Buys 11,416 Shares of The Cigna Group (NYSE:CI)

Mackenzie Financial Corp raised its stake in The Cigna Group (NYSE:CI) by 8.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 147,414 shares of the health services provider’s stock after acquiring an additional 11,416 shares during the period. Mackenzie Financial Corp owned about 0.05% of The Cigna Group worth $44,143,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Bogart Wealth LLC grew its holdings in shares of The Cigna Group by 104.5% during the third quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock worth $26,000 after purchasing an additional 46 shares during the last quarter. OFI Invest Asset Management acquired a new position in shares of The Cigna Group during the third quarter valued at $26,000. Fortitude Family Office LLC acquired a new position in shares of The Cigna Group during the fourth quarter valued at $29,000. Fairfield Bush & CO. acquired a new position in shares of The Cigna Group during the second quarter valued at $28,000. Finally, VisionPoint Advisory Group LLC lifted its stake in shares of The Cigna Group by 112.2% during the third quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock valued at $30,000 after acquiring an additional 55 shares during the period. 86.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of The Cigna Group stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total value of $1,608,446.16. Following the completion of the transaction, the senior vice president now directly owns 2,102 shares of the company’s stock, valued at approximately $694,668.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO David Cordani sold 38,065 shares of The Cigna Group stock in a transaction on Friday, February 9th. The stock was sold at an average price of $335.22, for a total value of $12,760,149.30. Following the transaction, the chief executive officer now owns 329,321 shares in the company, valued at approximately $110,394,985.62. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of The Cigna Group stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total value of $1,608,446.16. Following the completion of the transaction, the senior vice president now owns 2,102 shares in the company, valued at approximately $694,668.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 114,144 shares of company stock valued at $39,296,330. Insiders own 0.70% of the company’s stock.

The Cigna Group Stock Down 0.6 %

NYSE:CI opened at $346.79 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a 50-day simple moving average of $347.42 and a 200 day simple moving average of $314.57. The company has a market cap of $101.39 billion, a PE ratio of 19.94, a PEG ratio of 1.07 and a beta of 0.56. The Cigna Group has a 52-week low of $240.50 and a 52-week high of $365.71.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Friday, February 2nd. The health services provider reported $6.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.54 by $0.25. The company had revenue of $51.15 billion during the quarter, compared to analysts’ expectations of $48.91 billion. The Cigna Group had a return on equity of 13.59% and a net margin of 2.64%. The business’s revenue was up 11.8% on a year-over-year basis. During the same period last year, the firm posted $4.96 earnings per share. On average, sell-side analysts expect that The Cigna Group will post 28.36 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 21st. Investors of record on Wednesday, March 6th were issued a dividend of $1.40 per share. This is a boost from The Cigna Group’s previous quarterly dividend of $1.23. This represents a $5.60 annualized dividend and a yield of 1.61%. The ex-dividend date was Tuesday, March 5th. The Cigna Group’s dividend payout ratio (DPR) is presently 32.20%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CI. Morgan Stanley reaffirmed an “overweight” rating and set a $392.00 price target (up previously from $382.00) on shares of The Cigna Group in a research note on Monday, March 4th. Mizuho increased their target price on The Cigna Group from $360.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, February 5th. Oppenheimer reissued an “outperform” rating and issued a $360.00 target price on shares of The Cigna Group in a research note on Wednesday, January 17th. Cantor Fitzgerald reissued an “overweight” rating and issued a $384.00 target price on shares of The Cigna Group in a research note on Wednesday, April 10th. Finally, Barclays assumed coverage on The Cigna Group in a research note on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $362.14.

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.