Allianz SE Acquires New Shares in The Cigna Group (NYSE:CI)

Allianz SE bought a new stake in shares of The Cigna Group (NYSE:CI) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 25,085 shares of the health services provider’s stock, valued at approximately $6,902,000.

A number of other institutional investors have also recently made changes to their positions in CI. Geode Capital Management LLC increased its position in shares of The Cigna Group by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 5,855,443 shares of the health services provider’s stock valued at $2,021,563,000 after purchasing an additional 22,408 shares during the last quarter. GQG Partners LLC boosted its stake in shares of The Cigna Group by 22.4% during the 4th quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider’s stock worth $1,110,520,000 after acquiring an additional 737,099 shares during the last quarter. Norges Bank bought a new stake in shares of The Cigna Group during the 4th quarter valued at $867,785,000. Amundi increased its stake in shares of The Cigna Group by 19.9% in the 4th quarter. Amundi now owns 2,254,050 shares of the health services provider’s stock worth $628,579,000 after purchasing an additional 374,865 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in The Cigna Group by 3.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,977,758 shares of the health services provider’s stock worth $546,138,000 after purchasing an additional 64,138 shares during the period. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Insider Activity at The Cigna Group

In other The Cigna Group news, insider Noelle K. Eder sold 9,944 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $320.00, for a total value of $3,182,080.00. Following the transaction, the insider now directly owns 13,406 shares in the company, valued at $4,289,920. The trade was a 42.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 transaction of $1,511,020.48. Following the sale, 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. In the last three months, insiders have sold 43,751 shares of company stock valued at $13,603,991. 0.70% of the stock is owned by corporate insiders.

The Cigna Group Stock Up 0.1 %

The Cigna Group stock opened at $324.97 on Friday. 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 firm has a market cap of $88.94 billion, a price-to-earnings ratio of 26.55, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53. The business’s 50-day moving average price is $304.67 and its 200 day moving average price is $314.08. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data 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 business earned $6.79 earnings per share. As a group, sell-side analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.86%. 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. The Cigna Group’s dividend payout ratio (DPR) is presently 49.35%.

Analyst Ratings Changes

A number of analysts have commented on the company. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Royal Bank of Canada set a $355.00 target price on shares of The Cigna Group in a report on Friday, January 31st. Truist Financial cut their price objective on shares of The Cigna Group from $390.00 to $375.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. UBS Group reduced their target price on The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Finally, Wells Fargo & Company decreased their price objective on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $373.25.

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.