Ruffer LLP Has $165.98 Million Stake in The Cigna Group (NYSE:CI)

Ruffer LLP raised its position in shares of The Cigna Group (NYSE:CI) by 1.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 601,066 shares of the health services provider’s stock after acquiring an additional 10,302 shares during the period. The Cigna Group makes up about 6.0% of Ruffer LLP’s investment portfolio, making the stock its 4th largest position. Ruffer LLP owned 0.22% of The Cigna Group worth $165,981,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CI. OFI Invest Asset Management bought a new position in shares of The Cigna Group in the fourth quarter worth about $546,000. United Community Bank lifted its holdings in The Cigna Group by 65.1% during the fourth quarter. United Community Bank now owns 761 shares of the health services provider’s stock worth $210,000 after buying an additional 300 shares during the period. Amundi lifted its holdings in The Cigna Group by 19.9% during the fourth quarter. Amundi now owns 2,254,050 shares of the health services provider’s stock worth $628,579,000 after buying an additional 374,865 shares during the period. Larson Financial Group LLC lifted its holdings in The Cigna Group by 1,183.9% during the fourth quarter. Larson Financial Group LLC now owns 3,351 shares of the health services provider’s stock worth $925,000 after buying an additional 3,090 shares during the period. Finally, AMF Tjanstepension AB lifted its holdings in The Cigna Group by 101.1% during the fourth quarter. AMF Tjanstepension AB now owns 147,991 shares of the health services provider’s stock worth $40,879,000 after buying an additional 74,391 shares during the period. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Insider Activity

In other news, CEO David Cordani sold 26,527 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was 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 of the company’s stock, valued at approximately $39,367,568.04. This represents a 17.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicole S. Jones sold 4,904 shares of the company’s stock in a transaction on 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 sale, the insider now directly owns 29,421 shares in the company, valued at $9,065,198.52. This represents a 14.29 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.

The Cigna Group Trading Up 1.9 %

CI stock opened at $321.48 on Friday. The firm has a market cap of $87.98 billion, a P/E ratio of 26.26, a PEG ratio of 0.98 and a beta of 0.53. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The company’s 50-day simple moving average is $292.84 and its 200-day simple moving average is $317.71. 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 issued its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share 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 previous year, the business earned $6.79 earnings per share. As a group, equities analysts forecast that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be issued a $1.51 dividend. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a yield of 1.88%. The Cigna Group’s dividend payout ratio is presently 49.35%.

Wall Street Analyst Weigh In

CI has been the subject of a number of analyst reports. Piper Sandler restated an “overweight” rating and set a $348.00 target price (down previously from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Barclays reduced their price target on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. StockNews.com raised The Cigna Group from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Stephens reduced their price target on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Finally, Sanford C. Bernstein downgraded The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 target price on the stock. in a research report on Thursday, February 6th. Two investment 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 stock. Based on data from MarketBeat.com, The Cigna Group has a consensus rating of “Buy” and a consensus target price of $372.31.

About The Cigna Group

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.