The Cigna Group (NYSE:CI) Shares Purchased by Cumberland Partners Ltd

Cumberland Partners Ltd lifted its holdings in The Cigna Group (NYSE:CI) by 23.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,660 shares of the health services provider’s stock after purchasing an additional 500 shares during the period. Cumberland Partners Ltd’s holdings in The Cigna Group were worth $794,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CI. Parnassus Investments LLC acquired a new position in The Cigna Group during the 3rd quarter worth approximately $731,041,000. FMR LLC grew its holdings in The Cigna Group by 13.8% during the 3rd quarter. FMR LLC now owns 15,967,363 shares of the health services provider’s stock worth $4,567,783,000 after acquiring an additional 1,939,554 shares in the last quarter. Cerity Partners LLC grew its holdings in The Cigna Group by 1,039.4% during the 4th quarter. Cerity Partners LLC now owns 590,063 shares of the health services provider’s stock worth $176,694,000 after acquiring an additional 538,274 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in The Cigna Group by 3.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,833,753 shares of the health services provider’s stock worth $3,385,282,000 after acquiring an additional 345,605 shares in the last quarter. Finally, Jennison Associates LLC grew its holdings in The Cigna Group by 127.3% during the 4th quarter. Jennison Associates LLC now owns 566,233 shares of the health services provider’s stock worth $169,558,000 after acquiring an additional 317,081 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CI. Mizuho boosted their price objective on shares of The Cigna Group from $360.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. Deutsche Bank Aktiengesellschaft upgraded shares of The Cigna Group from a “hold” rating to a “buy” rating and upped their price target for the company from $355.00 to $370.00 in a research report on Thursday, February 1st. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 14th. Barclays initiated coverage on shares of The Cigna Group in a research note on Wednesday, March 6th. They set an “overweight” rating and a $393.00 price target on the stock. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $392.00 price target (up from $382.00) on shares of The Cigna Group in a research note on Monday, March 4th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, The Cigna Group currently has an average rating of “Buy” and a consensus price target of $362.14.

Insider Activity

In related news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the sale, the senior vice president now owns 2,102 shares in the company, valued at $694,668.96. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other The Cigna Group news, insider Eric P. Palmer sold 1,017 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $335.26, for a total value of $340,959.42. Following the completion of the transaction, the insider now owns 45,564 shares in the company, valued at approximately $15,275,786.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the completion of the transaction, the senior vice president now owns 2,102 shares of the company’s stock, valued at approximately $694,668.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 114,144 shares of company stock worth $39,296,330. 0.70% of the stock is currently owned by corporate insiders.

The Cigna Group Trading Down 0.1 %

CI traded down $0.27 during trading on Wednesday, hitting $352.38. 591,623 shares of the company’s stock were exchanged, compared to its average volume of 1,581,153. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.61. The firm has a market cap of $103.02 billion, a P/E ratio of 20.26, a price-to-earnings-growth ratio of 1.08 and a beta of 0.56. The stock has a 50 day moving average price of $349.03 and a 200 day moving average price of $316.84. The Cigna Group has a 1 year low of $240.50 and a 1 year high of $365.71.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Friday, February 2nd. The health services provider reported $6.79 earnings per share for the quarter, topping analysts’ consensus estimates of $6.54 by $0.25. The Cigna Group had a net margin of 2.64% and a return on equity of 13.59%. The firm had revenue of $51.15 billion during the quarter, compared to analysts’ expectations of $48.91 billion. During the same period in the prior year, the company earned $4.96 EPS. The firm’s revenue was up 11.8% on a year-over-year basis. As a group, analysts expect that The Cigna Group will post 28.36 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th were paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend was Tuesday, March 5th. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.23. The Cigna Group’s dividend payout ratio is 32.20%.

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.