Scotia Capital Inc. Has $4.32 Million Stake in The Cigna Group (NYSE:CI)

Scotia Capital Inc. lowered its holdings in The Cigna Group (NYSE:CI) by 1.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,650 shares of the health services provider’s stock after selling 226 shares during the quarter. Scotia Capital Inc.’s holdings in The Cigna Group were worth $4,322,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CenterBook Partners LP increased its holdings in The Cigna Group by 1,223.3% during the 4th quarter. CenterBook Partners LP now owns 32,368 shares of the health services provider’s stock worth $8,938,000 after purchasing an additional 29,922 shares in the last quarter. APG Asset Management US Inc. grew its holdings in The Cigna Group by 9.0% during the fourth quarter. APG Asset Management US Inc. now owns 5,777 shares of the health services provider’s stock worth $1,595,000 after buying an additional 476 shares in the last quarter. APG Asset Management N.V. raised its position in The Cigna Group by 229.5% in the 4th quarter. APG Asset Management N.V. now owns 218,018 shares of the health services provider’s stock valued at $58,140,000 after buying an additional 151,854 shares during the last quarter. Advisory Services Network LLC lifted its stake in The Cigna Group by 22.6% during the 4th quarter. Advisory Services Network LLC now owns 4,420 shares of the health services provider’s stock valued at $1,220,000 after acquiring an additional 816 shares in the last quarter. Finally, Bank of Nova Scotia boosted its holdings in The Cigna Group by 1.8% during the 4th quarter. Bank of Nova Scotia now owns 126,696 shares of the health services provider’s stock worth $34,986,000 after acquiring an additional 2,296 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CI. Sanford C. Bernstein downgraded shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 target price for the company. in a report on Thursday, February 6th. Mizuho lifted their target price on shares of The Cigna Group from $360.00 to $384.00 and gave the stock an “outperform” rating in a research report on Wednesday. Cantor Fitzgerald upped 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. Truist Financial lifted their price target on The Cigna Group from $375.00 to $385.00 and gave the stock a “buy” rating in a report on Friday. Finally, StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $375.00.

Insider Activity

In related news, 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 value of $737,391.60. Following the sale, the director now directly owns 5,471 shares of the company’s stock, valued at $1,697,924.85. This trade represents a 30.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO David Cordani sold 26,527 shares of the firm’s stock in a transaction 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 owns 127,767 shares in the company, valued at approximately $39,367,568.04. This trade represents a 17.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have 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 $329.52 on Friday. The firm has a market cap of $90.18 billion, a P/E ratio of 26.92, a price-to-earnings-growth ratio of 0.98 and a beta of 0.51. 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 company’s 50 day moving average is $312.04 and its 200-day moving average is $311.31. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) 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 in the prior year, the firm posted $6.79 EPS. Sell-side analysts predict that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date was Wednesday, March 5th. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s payout ratio is presently 49.35%.

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.