Handelsbanken Fonder AB Decreases Position in The Cigna Group (NYSE:CI)

Handelsbanken Fonder AB lowered its stake in shares of The Cigna Group (NYSE:CI) by 14.0% in the 4th quarter, HoldingsChannel reports. The firm owned 92,946 shares of the health services provider’s stock after selling 15,098 shares during the quarter. Handelsbanken Fonder AB’s holdings in The Cigna Group were worth $27,833,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Parnassus Investments LLC bought a new position in The Cigna Group in the 3rd quarter valued at $731,041,000. FMR LLC boosted its holdings in The Cigna Group by 13.8% in the 3rd quarter. FMR LLC now owns 15,967,363 shares of the health services provider’s stock valued at $4,567,783,000 after purchasing an additional 1,939,554 shares during the period. Cerity Partners LLC boosted its holdings in The Cigna Group by 1,039.4% in the 4th quarter. Cerity Partners LLC now owns 590,063 shares of the health services provider’s stock valued at $176,694,000 after purchasing an additional 538,274 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of 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 during the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in shares of The Cigna Group by 21,324.4% during the 4th quarter. International Assets Investment Management LLC now owns 285,801 shares of the health services provider’s stock worth $85,583,000 after acquiring an additional 284,467 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Trading Up 0.2 %

Shares of CI opened at $353.18 on Tuesday. The firm’s 50-day moving average price is $348.73 and its 200-day moving average price is $316.39. The firm has a market capitalization of $103.26 billion, a price-to-earnings ratio of 20.31, a PEG ratio of 1.08 and a beta of 0.56. 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 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 earnings results on Friday, February 2nd. The health services provider reported $6.79 earnings per share for the quarter, beating analysts’ consensus estimates of $6.54 by $0.25. The firm had revenue of $51.15 billion for the quarter, compared to analyst estimates of $48.91 billion. The Cigna Group had a net margin of 2.64% and a return on equity of 13.59%. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.96 EPS. Sell-side analysts anticipate that The Cigna Group will post 28.36 EPS for the current year.

The Cigna Group Increases Dividend

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

Insider Buying and Selling

In related news, CEO David Cordani sold 38,065 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $335.22, for a total transaction of $12,760,149.30. Following the sale, the chief executive officer now owns 329,321 shares of the company’s stock, valued at $110,394,985.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO David Cordani sold 38,065 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $335.22, for a total transaction of $12,760,149.30. Following the sale, the chief executive officer now owns 329,321 shares of the company’s stock, valued at $110,394,985.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at approximately $694,668.96. The disclosure for this sale can be found here. Insiders have sold 114,144 shares of company stock valued at $39,296,330 over the last quarter. Corporate insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CI. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 14th. Morgan Stanley reiterated an “overweight” rating and issued a $392.00 target price (up previously from $382.00) on shares of The Cigna Group in a research report on Monday, March 4th. Deutsche Bank Aktiengesellschaft upgraded shares of The Cigna Group from a “hold” rating to a “buy” rating and lifted their target price for the stock from $355.00 to $370.00 in a research report on Thursday, February 1st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $384.00 target price on shares of The Cigna Group in a research report on Wednesday, April 10th. Finally, Barclays started coverage on shares of The Cigna Group in a research report on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average 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.