The Cigna Group (NYSE:CI) Shares Acquired by Lyrical Asset Management LP

Lyrical Asset Management LP lifted its stake in The Cigna Group (NYSE:CI) by 0.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 807,649 shares of the health services provider’s stock after acquiring an additional 3,183 shares during the quarter. The Cigna Group accounts for 3.3% of Lyrical Asset Management LP’s investment portfolio, making the stock its 14th largest position. Lyrical Asset Management LP owned 0.29% of The Cigna Group worth $223,024,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in CI. Perennial Investment Advisors LLC boosted its holdings in The Cigna Group by 6.4% during the 4th quarter. Perennial Investment Advisors LLC now owns 971 shares of the health services provider’s stock valued at $268,000 after acquiring an additional 58 shares during the period. Grantham Mayo Van Otterloo & Co. LLC lifted its position in shares of The Cigna Group by 3.9% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,478,767 shares of the health services provider’s stock worth $408,347,000 after purchasing an additional 55,839 shares in the last quarter. Rhenman & Partners Asset Management AB boosted its stake in shares of The Cigna Group by 88.0% in the fourth quarter. Rhenman & Partners Asset Management AB now owns 78,385 shares of the health services provider’s stock valued at $21,645,000 after purchasing an additional 36,700 shares during the period. Cullen Capital Management LLC grew its holdings in shares of The Cigna Group by 7.6% in the fourth quarter. Cullen Capital Management LLC now owns 13,773 shares of the health services provider’s stock valued at $3,803,000 after purchasing an additional 973 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. purchased a new stake in The Cigna Group during the 4th quarter worth approximately $24,849,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Royal Bank of Canada set a $355.00 price target on shares of The Cigna Group in a research note 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 note on Monday, February 3rd. Wells Fargo & Company reduced their price target 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. Stephens lowered their price objective on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Finally, Barclays reduced their target price on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, The Cigna Group presently has a consensus rating of “Buy” and an average target price of $373.25.

The Cigna Group Stock Performance

Shares of CI stock opened at $322.02 on Friday. The stock’s 50-day moving average is $308.72 and its two-hundred day moving average is $312.70. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The firm has a market cap of $88.13 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 0.98 and a beta of 0.50.

The Cigna Group (NYSE:CI) last released its quarterly 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 return on equity of 18.61% and a net margin of 1.39%. During the same period last year, the business posted $6.79 EPS. Analysts predict that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were paid 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 1.88%. The Cigna Group’s dividend payout ratio is 49.35%.

Insider Buying and Selling

In related news, insider Noelle K. Eder sold 9,944 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the completion of the sale, the insider now directly owns 13,406 shares of the company’s stock, valued at $4,289,920. This trade represents a 42.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Elder Granger sold 2,376 shares of The Cigna Group stock in a transaction on Friday, March 14th. The shares were sold at an average price of $310.35, for a total transaction of $737,391.60. Following the completion of the transaction, the director now owns 5,471 shares in the company, valued at approximately $1,697,924.85. This trade represents a 30.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,751 shares of company stock valued at $13,603,991 over the last quarter. 0.70% of the stock is currently owned by insiders.

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.