Candriam S.C.A. Purchases 52,119 Shares of The Cigna Group (NYSE:CI)

Candriam S.C.A. grew its holdings in shares of The Cigna Group (NYSE:CI) by 210.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 76,881 shares of the health services provider’s stock after buying an additional 52,119 shares during the period. Candriam S.C.A.’s holdings in The Cigna Group were worth $21,230,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Collier Financial bought a new position in The Cigna Group during the 4th quarter valued at approximately $32,000. ORG Wealth Partners LLC purchased a new stake in shares of The Cigna Group in the fourth quarter worth $34,000. Prospera Private Wealth LLC bought a new position in shares of The Cigna Group during the third quarter valued at $37,000. Compagnie Lombard Odier SCmA purchased a new position in shares of The Cigna Group in the 4th quarter worth about $37,000. Finally, Harbor Capital Advisors Inc. bought a new position in The Cigna Group in the 3rd quarter worth about $45,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CI shares. Sanford C. Bernstein lowered 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. Oppenheimer reduced their price target on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a research report on Friday, January 31st. Truist Financial decreased their price objective on shares of The Cigna Group from $390.00 to $375.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. StockNews.com upgraded The Cigna Group from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Finally, Stephens decreased their price target on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $372.31.

The Cigna Group Trading Up 1.8 %

The Cigna Group stock opened at $315.54 on Friday. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The company has a market cap of $87.77 billion, a P/E ratio of 25.78, a P/E/G 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 business has a 50-day simple moving average of $291.99 and a two-hundred day simple moving average of $318.03.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business earned $6.79 EPS. Analysts predict that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be paid a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 1.91%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Wednesday, March 5th. The Cigna Group’s dividend payout ratio is 49.35%.

Insider Buying and Selling

In other The Cigna Group news, CEO David Cordani sold 26,527 shares of The Cigna Group 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicole S. Jones sold 4,904 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the completion of the sale, the insider now directly owns 29,421 shares of the company’s stock, valued at approximately $9,065,198.52. This trade represents a 14.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.60% of the stock is 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.