The Cigna Group (NYSE:CI) Shares Acquired by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. lifted its holdings in shares of The Cigna Group (NYSE:CI) by 22.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 953 shares of the health services provider’s stock after buying an additional 176 shares during the period. E Fund Management Co. Ltd.’s holdings in The Cigna Group were worth $285,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Roman Butler Fullerton & Co. raised its holdings in The Cigna Group by 61.4% during the fourth quarter. Roman Butler Fullerton & Co. now owns 9,307 shares of the health services provider’s stock worth $2,772,000 after purchasing an additional 3,539 shares in the last quarter. Ellsworth Advisors LLC purchased a new position in The Cigna Group during the fourth quarter worth about $4,377,000. Sapient Capital LLC purchased a new position in The Cigna Group during the fourth quarter worth about $2,811,000. Allspring Global Investments Holdings LLC increased its holdings in The Cigna Group by 29.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 293,438 shares of the health services provider’s stock valued at $87,870,000 after buying an additional 66,891 shares in the last quarter. Finally, Accurate Wealth Management LLC purchased a new position in The Cigna Group in the fourth quarter valued at about $2,244,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, CEO David Cordani sold 38,065 shares of The Cigna Group stock in a transaction on Friday, February 9th. The shares were sold at an average price of $335.22, for a total value of $12,760,149.30. Following the transaction, the chief executive officer now owns 329,321 shares in the company, valued at approximately $110,394,985.62. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Eric P. Palmer sold 6,083 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $340.00, for a total value of $2,068,220.00. Following the transaction, the insider now owns 44,649 shares of the company’s stock, valued at approximately $15,180,660. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO David Cordani sold 38,065 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $335.22, for a total transaction of $12,760,149.30. Following the completion of the transaction, the chief executive officer now directly owns 329,321 shares in the company, valued at approximately $110,394,985.62. The disclosure for this sale can be found here. Insiders have sold a total of 109,277 shares of company stock worth $37,687,884 in the last quarter. 0.70% of the stock is owned by insiders.

Analysts Set New Price Targets

CI has been the subject of a number of research analyst reports. Barclays initiated coverage on shares of The Cigna Group in a report on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 target price for the company. Royal Bank of Canada raised shares of The Cigna Group from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $327.00 to $354.00 in a report on Monday, February 5th. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 14th. Cantor Fitzgerald increased their target price on shares of The Cigna Group from $384.00 to $400.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Finally, Oppenheimer increased their target price on shares of The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $366.14.

The Cigna Group Trading Up 1.0 %

NYSE CI traded up $3.64 during mid-day trading on Thursday, reaching $350.99. 1,388,760 shares of the stock were exchanged, compared to its average volume of 1,585,264. The Cigna Group has a 1-year low of $240.50 and a 1-year high of $365.71. The business’s fifty day simple moving average is $351.14 and its 200 day simple moving average is $320.40. The stock has a market capitalization of $99.71 billion, a PE ratio of 28.82, a PEG ratio of 1.04 and a beta of 0.57. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.71 and a current ratio of 0.71.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share for the quarter, beating analysts’ consensus estimates of $6.17 by $0.30. The company had revenue of $57.25 billion for the quarter, compared to analyst estimates of $56.59 billion. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The Cigna Group’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same quarter last year, the business earned $5.41 EPS. On average, research analysts anticipate that The Cigna Group will post 28.45 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th will be issued a $1.40 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.60%. The Cigna Group’s dividend payout ratio (DPR) is presently 45.98%.

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.