Charles Schwab Investment Management Inc. Boosts Stake in The Cigna Group (NYSE:CI)

Charles Schwab Investment Management Inc. lifted its position in shares of The Cigna Group (NYSE:CI) by 3.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,977,758 shares of the health services provider’s stock after acquiring an additional 64,138 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in The Cigna Group were worth $546,138,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CI. Swedbank AB increased its holdings in The Cigna Group by 55.1% in the 4th quarter. Swedbank AB now owns 884,406 shares of the health services provider’s stock worth $244,220,000 after acquiring an additional 314,123 shares in the last quarter. FMR LLC increased its holdings in The Cigna Group by 2.0% in the 3rd quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock worth $4,929,978,000 after acquiring an additional 279,880 shares in the last quarter. Proficio Capital Partners LLC increased its holdings in The Cigna Group by 34,280.8% in the 4th quarter. Proficio Capital Partners LLC now owns 238,603 shares of the health services provider’s stock worth $65,888,000 after acquiring an additional 237,909 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in The Cigna Group by 68.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 497,875 shares of the health services provider’s stock worth $137,483,000 after acquiring an additional 202,161 shares in the last quarter. Finally, World Investment Advisors LLC acquired a new position in shares of The Cigna Group during the 3rd quarter worth about $69,972,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Stock Down 0.8 %

NYSE:CI opened at $308.90 on Wednesday. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. The stock’s fifty day moving average is $290.71 and its two-hundred day moving average is $318.11. The stock has a market capitalization of $85.92 billion, a price-to-earnings ratio of 25.24, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. 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 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 in the previous year, the business earned $6.79 EPS. Research analysts anticipate that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be given a $1.51 dividend. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Wednesday, March 5th. The Cigna Group’s payout ratio is currently 49.35%.

Insider Buying and Selling

In other news, insider Nicole S. Jones sold 4,904 shares of The Cigna Group stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $1,511,020.48. Following the completion of the transaction, the insider now owns 29,421 shares in the company, valued at approximately $9,065,198.52. This trade represents a 14.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO David Cordani sold 26,527 shares of The Cigna Group stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $8,173,499.24. Following the completion of the transaction, the chief executive officer now owns 127,767 shares of the company’s stock, valued at $39,367,568.04. The trade was a 17.19 % decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms recently weighed in on CI. Raymond James restated a “strong-buy” rating and set a $360.00 price target (down previously from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Barclays lowered 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 research note on Friday, January 31st. Sanford C. Bernstein cut shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective for the company. in a research note on Thursday, February 6th. Piper Sandler reiterated an “overweight” rating and set a $348.00 price target (down previously from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Finally, Truist Financial reduced their price target on The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $372.31.

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.