The Cigna Group (NYSE:CI) Shares Acquired by Bridgewater Associates LP

Bridgewater Associates LP increased its holdings in shares of The Cigna Group (NYSE:CI) by 78.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 579,482 shares of the health services provider’s stock after acquiring an additional 255,646 shares during the period. The Cigna Group makes up about 0.7% of Bridgewater Associates LP’s portfolio, making the stock its 18th largest holding. Bridgewater Associates LP owned 0.21% of The Cigna Group worth $160,018,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Rossby Financial LCC acquired a new position in The Cigna Group during the fourth quarter worth $211,000. Aware Super Pty Ltd as trustee of Aware Super purchased a new stake in shares of The Cigna Group during the fourth quarter worth about $9,274,000. Canada Post Corp Registered Pension Plan acquired a new position in shares of The Cigna Group during the 4th quarter worth about $1,289,000. Belpointe Asset Management LLC lifted its stake in The Cigna Group by 30.7% in the 4th quarter. Belpointe Asset Management LLC now owns 2,237 shares of the health services provider’s stock valued at $618,000 after buying an additional 526 shares in the last quarter. Finally, Mariner LLC boosted its holdings in The Cigna Group by 12.9% in the 4th quarter. Mariner LLC now owns 50,728 shares of the health services provider’s stock worth $14,008,000 after buying an additional 5,808 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on CI. Cantor Fitzgerald increased their target price on The Cigna Group from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Thursday, March 20th. Raymond James reissued a “strong-buy” rating and issued a $360.00 price objective (down from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Stephens decreased their price objective on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Truist Financial upped their target price on shares of The Cigna Group from $375.00 to $385.00 and gave the stock a “buy” rating in a report on Friday. Finally, Sanford C. Bernstein downgraded shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price target on the stock. in a research note on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $375.00.

Insider Transactions at The Cigna Group

In related news, CEO David Cordani sold 26,527 shares of the company’s 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 $8,173,499.24. Following the sale, the chief executive officer now directly owns 127,767 shares of the company’s stock, valued at $39,367,568.04. This represents a 17.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Elder Granger sold 2,376 shares of the firm’s stock in a transaction that occurred 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 directly owns 5,471 shares of the company’s stock, valued at $1,697,924.85. This represents a 30.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,751 shares of company stock worth $13,603,991 over the last ninety days. Company insiders own 0.70% of the company’s stock.

The Cigna Group Stock Performance

NYSE CI opened at $328.71 on Tuesday. The stock has a market cap of $89.96 billion, a PE ratio of 26.86, a P/E/G ratio of 0.98 and a beta of 0.51. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The stock has a fifty day simple moving average of $312.75 and a 200-day simple moving average of $310.94. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing analysts’ consensus estimates 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 quarter last year, the firm earned $6.79 EPS. Equities analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 1.84%. This is a boost 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 is 49.35%.

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.