Connor Clark & Lunn Investment Management Ltd. Buys 15,776 Shares of The Cigna Group (NYSE:CI)

Connor Clark & Lunn Investment Management Ltd. boosted its stake in The Cigna Group (NYSE:CI) by 739.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,910 shares of the health services provider’s stock after acquiring an additional 15,776 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in The Cigna Group were worth $4,946,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Collier Financial bought a new stake in shares of The Cigna Group during the 4th quarter valued at $32,000. ORG Wealth Partners LLC bought a new stake in shares of The Cigna Group during the 4th quarter valued at $34,000. Prospera Private Wealth LLC bought a new stake in shares of The Cigna Group during the 3rd quarter valued at $37,000. Compagnie Lombard Odier SCmA bought a new stake in shares of The Cigna Group during the 4th quarter valued at $37,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of The Cigna Group during the 4th quarter valued at $53,000. Institutional investors own 86.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CI shares. Royal Bank of Canada set a $355.00 target price on shares of The Cigna Group in a report 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 target on the stock. in a research note on Thursday, February 6th. UBS Group dropped their price target on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Cantor Fitzgerald dropped their price target on shares of The Cigna Group from $400.00 to $350.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Finally, Morgan Stanley dropped their price target on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $372.31.

Insider Activity

In related news, CEO David Cordani sold 26,527 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 127,767 shares of the company’s stock, valued at approximately $39,367,568.04. This represents a 17.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Noelle K. Eder sold 9,944 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the completion of the sale, the insider now directly owns 13,406 shares of the company’s stock, valued at $4,289,920. This represents a 42.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,375 shares of company stock valued at $12,866,600 in the last quarter. 0.60% of the stock is currently owned by insiders.

The Cigna Group Price Performance

Shares of NYSE:CI opened at $313.35 on Monday. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The business has a 50-day simple moving average of $296.79 and a two-hundred day simple moving average of $316.23. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The firm has a market cap of $85.76 billion, a price-to-earnings ratio of 25.60, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53.

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 net margin of 1.39% and a return on equity of 18.61%. During the same quarter in the previous year, the business posted $6.79 EPS. On average, analysts expect that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be given a dividend of $1.51 per share. The ex-dividend date is Wednesday, March 5th. This represents a $6.04 annualized dividend and a dividend yield of 1.93%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend 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.