Schroder Investment Management Group Increases Position in The Cigna Group (NYSE:CI)

Schroder Investment Management Group raised its stake in shares of The Cigna Group (NYSE:CI – Get Rating) by 28.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 207,213 shares of the health services provider’s stock after acquiring an additional 46,446 shares during the period. Schroder Investment Management Group’s holdings in The Cigna Group were worth $68,658,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of CI. Bank of New York Mellon Corp grew its stake in shares of The Cigna Group by 9.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,108,166 shares of the health services provider’s stock valued at $862,423,000 after acquiring an additional 268,793 shares during the period. Putnam Investments LLC grew its holdings in shares of The Cigna Group by 16.5% in the third quarter. Putnam Investments LLC now owns 1,997,800 shares of the health services provider’s stock valued at $554,330,000 after purchasing an additional 283,323 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in The Cigna Group by 1.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,808,135 shares of the health services provider’s stock worth $433,248,000 after acquiring an additional 28,643 shares during the last quarter. UBS Asset Management Americas Inc. increased its stake in The Cigna Group by 6.6% during the third quarter. UBS Asset Management Americas Inc. now owns 1,611,338 shares of the health services provider’s stock worth $447,098,000 after acquiring an additional 99,144 shares during the last quarter. Finally, Edmp Inc. increased its stake in The Cigna Group by 32,426.5% during the fourth quarter. Edmp Inc. now owns 1,606,807 shares of the health services provider’s stock worth $4,849,000 after acquiring an additional 1,601,867 shares during the last quarter. Institutional investors own 87.61% of the company’s stock.

Analyst Upgrades and Downgrades

CI has been the topic of several recent analyst reports. JPMorgan Chase & Co. reduced their target price on shares of The Cigna Group from $378.00 to $370.00 and set an “overweight” rating on the stock in a research note on Thursday, February 23rd. Stephens reissued an “overweight” rating and issued a $370.00 target price on shares of The Cigna Group in a research note on Tuesday, March 21st. Mizuho reissued a “buy” rating and set a $360.00 price target on shares of The Cigna Group in a research note on Thursday, March 30th. Cantor Fitzgerald assumed coverage on The Cigna Group in a research note on Thursday, April 20th. They set a “neutral” rating and a $285.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of The Cigna Group from $348.00 to $310.00 in a research report on Monday, May 8th. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, The Cigna Group has a consensus rating of “Moderate Buy” and a consensus target price of $329.00.

The Cigna Group Trading Down 0.0 %

Shares of NYSE:CI traded down $0.05 during midday trading on Friday, reaching $247.02. 64,606 shares of the company’s stock were exchanged, compared to its average volume of 1,756,431. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.71 and a quick ratio of 0.71. The firm’s 50 day simple moving average is $258.32 and its two-hundred day simple moving average is $292.04. The Cigna Group has a fifty-two week low of $240.11 and a fifty-two week high of $340.11. The stock has a market cap of $73.09 billion, a price-to-earnings ratio of 11.26, a P/E/G ratio of 0.90 and a beta of 0.62.

The Cigna Group (NYSE:CI – Get Rating) last announced its quarterly earnings data on Friday, May 5th. The health services provider reported $5.41 EPS for the quarter, beating analysts’ consensus estimates of $5.23 by $0.18. The Cigna Group had a net margin of 3.69% and a return on equity of 12.65%. The company had revenue of $46.52 billion for the quarter, compared to the consensus estimate of $45.43 billion. During the same period in the prior year, the firm posted $6.01 EPS. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. As a group, sell-side analysts forecast that The Cigna Group will post 24.8 EPS 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 22nd. Investors of record on Wednesday, June 7th will be issued a dividend of $1.23 per share. This represents a $4.92 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date is Tuesday, June 6th. The Cigna Group’s dividend payout ratio is currently 22.42%.

Insider Buying and Selling

In other The Cigna Group news, Director Donna F. Zarcone sold 757 shares of the business’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $253.29, for a total value of $191,740.53. Following the transaction, the director now directly owns 25,558 shares of the company’s stock, valued at approximately $6,473,585.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Donna F. Zarcone sold 757 shares of the business’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $253.29, for a total transaction of $191,740.53. Following the sale, the director now owns 25,558 shares of the company’s stock, valued at $6,473,585.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael W. Triplett sold 1,731 shares of the business’s stock in a transaction dated Friday, March 10th. The stock was sold at an average price of $271.67, for a total transaction of $470,260.77. Following the sale, the insider now directly owns 30,235 shares in the company, valued at approximately $8,213,942.45. The disclosure for this sale can be found here. Insiders have sold a total of 28,509 shares of company stock valued at $8,200,219 over the last quarter. 0.60% of the stock is currently owned by insiders.

The Cigna Group Company Profile

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The Cigna Group is engaged in the provision of global health services. It operates through the following segments: Evernorth, U.S. Medical, International Markets, and Group Disability and Other. The Evernorth segment includes a broad range of coordinated and point solution health services, including pharmacy solutions, benefits management solutions, care solutions and intelligence solutions.