Fjarde AP Fonden Fourth Swedish National Pension Fund Has $13.84 Million Position in The Cigna Group (NYSE:CI)

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its position in shares of The Cigna Group (NYSE:CI) by 13.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 50,104 shares of the health services provider’s stock after selling 7,800 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in The Cigna Group were worth $13,836,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Sterling Financial Group Inc. bought a new stake in The Cigna Group during the 4th quarter worth about $4,367,000. Marks Group Wealth Management Inc increased its position in shares of The Cigna Group by 3,669.7% in the third quarter. Marks Group Wealth Management Inc now owns 24,013 shares of the health services provider’s stock valued at $8,319,000 after acquiring an additional 23,376 shares during the last quarter. Principal Financial Group Inc. raised its holdings in The Cigna Group by 3.6% during the third quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider’s stock worth $112,216,000 after acquiring an additional 11,228 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. boosted its position in The Cigna Group by 1.1% during the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider’s stock valued at $20,942,000 after purchasing an additional 858 shares during the last quarter. Finally, Trinity Street Asset Management LLP grew its stake in The Cigna Group by 7.1% in the third quarter. Trinity Street Asset Management LLP now owns 81,411 shares of the health services provider’s stock valued at $28,204,000 after purchasing an additional 5,397 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Price Performance

The Cigna Group stock opened at $299.92 on Monday. The company has a market capitalization of $83.42 billion, a price-to-earnings ratio of 24.50, a PEG ratio of 0.98 and a beta of 0.54. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The stock’s 50 day moving average is $286.35 and its 200-day moving average is $319.47.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 EPS 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 period last year, the business earned $6.79 earnings per share. Equities research analysts expect that The Cigna Group will post 29.77 EPS 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. Investors of record on Wednesday, March 5th will be given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 2.01%. 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 (DPR) is currently 49.35%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CI shares. Royal Bank of Canada set a $355.00 price objective on The Cigna Group in a research note on Friday, January 31st. Barclays dropped their price target on shares of 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. Sanford C. Bernstein downgraded 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 report on Thursday, February 6th. StockNews.com upgraded shares of The Cigna Group from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Finally, Morgan Stanley cut their target price on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $372.31.

The Cigna Group 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.