Twin Capital Management Inc. Grows Stake in The Cigna Group (NYSE:CI)

Twin Capital Management Inc. increased its stake in shares of The Cigna Group (NYSE:CI) by 2.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 10,060 shares of the health services provider’s stock after purchasing an additional 233 shares during the quarter. Twin Capital Management Inc.’s holdings in The Cigna Group were worth $2,778,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Employees Retirement System of Texas lifted its holdings in shares of The Cigna Group by 19.8% in the 4th quarter. Employees Retirement System of Texas now owns 35,432 shares of the health services provider’s stock worth $9,784,000 after acquiring an additional 5,867 shares during the last quarter. Prospector Partners LLC grew its stake in shares of The Cigna Group by 0.3% during the fourth quarter. Prospector Partners LLC now owns 41,135 shares of the health services provider’s stock valued at $11,359,000 after buying an additional 117 shares during the last quarter. Lyrical Asset Management LP raised its holdings in shares of The Cigna Group by 0.4% in the fourth quarter. Lyrical Asset Management LP now owns 807,649 shares of the health services provider’s stock worth $223,024,000 after buying an additional 3,183 shares during the period. Perennial Investment Advisors LLC lifted its stake in shares of The Cigna Group by 6.4% during the 4th quarter. Perennial Investment Advisors LLC now owns 971 shares of the health services provider’s stock worth $268,000 after acquiring an additional 58 shares during the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in The Cigna Group by 3.9% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,478,767 shares of the health services provider’s stock valued at $408,347,000 after acquiring an additional 55,839 shares during the period. 86.99% of the stock is currently owned by institutional investors.

The Cigna Group Trading Down 4.9 %

Shares of The Cigna Group stock opened at $322.02 on Monday. The firm has a fifty day moving average price of $308.72 and a 200 day moving average price of $312.39. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72. The stock has a market cap of $88.13 billion, a PE ratio of 26.31, a price-to-earnings-growth ratio of 0.98 and a beta of 0.50. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83.

The Cigna Group (NYSE:CI) last announced its quarterly 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 return on equity of 18.61% and a net margin of 1.39%. During the same quarter in the previous year, the company earned $6.79 EPS. Equities research analysts predict that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CI shares. Barclays decreased their price objective on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Royal Bank of Canada set a $355.00 price objective on The Cigna Group in a research note on Friday, January 31st. Sanford C. Bernstein cut 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. Stephens decreased their price objective on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Finally, Cantor Fitzgerald boosted their price target on shares of The Cigna Group from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Thursday, March 20th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $373.25.

Insider Activity

In other news, Director Elder Granger sold 2,376 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $310.35, for a total value of $737,391.60. Following the transaction, the director now owns 5,471 shares in the company, valued at $1,697,924.85. This trade represents a 30.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David Cordani sold 26,527 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $8,173,499.24. Following the sale, 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 disclosure for this sale can be found here. Insiders sold 43,751 shares of company stock worth $13,603,991 over the last three months. 0.70% of the stock is currently owned by corporate insiders.

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.