Ossiam Raises Holdings in The Cigna Group (NYSE:CI)

Ossiam raised its stake in shares of The Cigna Group (NYSE:CI) by 82.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,421 shares of the health services provider’s stock after buying an additional 10,550 shares during the quarter. Ossiam’s holdings in The Cigna Group were worth $6,467,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of The Cigna Group during the 4th quarter worth $867,785,000. Raymond James Financial Inc. acquired a new stake in The Cigna Group in the 4th quarter worth about $313,911,000. GQG Partners LLC increased its stake in shares of The Cigna Group by 22.4% during the 4th quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider’s stock valued at $1,110,520,000 after acquiring an additional 737,099 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of The Cigna Group by 4.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 11,556,278 shares of the health services provider’s stock worth $3,191,151,000 after acquiring an additional 501,320 shares during the last quarter. Finally, Amundi grew its holdings in The Cigna Group by 19.9% in the fourth quarter. Amundi now owns 2,254,050 shares of the health services provider’s stock valued at $628,579,000 after purchasing an additional 374,865 shares during the period. 86.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO David Cordani sold 26,527 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 127,767 shares of the company’s stock, valued at approximately $39,367,568.04. The trade was a 17.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Noelle K. Eder sold 9,944 shares of the stock in a transaction dated 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 in the company, valued at approximately $4,289,920. This trade represents a 42.59 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,751 shares of company stock valued at $13,603,991. 0.70% of the stock is currently owned by insiders.

The Cigna Group Stock Up 0.2 %

Shares of The Cigna Group stock opened at $329.97 on Friday. 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 moving average price of $315.87 and a 200 day moving average price of $310.74. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The firm has a market cap of $90.30 billion, a P/E ratio of 26.96, a P/E/G ratio of 0.98 and a beta of 0.51.

The Cigna Group (NYSE:CI) last posted its quarterly 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 period last year, the business earned $6.79 EPS. On average, sell-side analysts forecast that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were paid a $1.51 dividend. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date was Wednesday, March 5th. The Cigna Group’s payout ratio is presently 49.35%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on CI shares. Robert W. Baird lowered their price objective on shares of The Cigna Group from $388.00 to $362.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. Truist Financial raised their price objective on The Cigna Group from $375.00 to $385.00 and gave the stock a “buy” rating in a report on Friday, April 11th. Cantor Fitzgerald increased their target price on shares of The Cigna Group from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Thursday, March 20th. Royal Bank of Canada set a $355.00 price target on shares of The Cigna Group in a research report on Friday, January 31st. Finally, Morgan Stanley reduced their target price on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, The Cigna Group has an average rating of “Buy” and a consensus price target of $373.56.

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.