Sava Infond d.o.o. Acquires Shares of 800 The Cigna Group (NYSE:CI)

Sava Infond d.o.o. bought a new position in shares of The Cigna Group (NYSE:CI) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 800 shares of the health services provider’s stock, valued at approximately $221,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CI. WINTON GROUP Ltd raised its stake in shares of The Cigna Group by 74.0% during the fourth quarter. WINTON GROUP Ltd now owns 1,056 shares of the health services provider’s stock worth $292,000 after purchasing an additional 449 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in The Cigna Group by 7.4% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 442,464 shares of the health services provider’s stock valued at $124,200,000 after buying an additional 30,669 shares during the period. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new position in The Cigna Group during the 4th quarter worth $939,000. Florida Financial Advisors LLC raised its position in The Cigna Group by 7.0% during the 4th quarter. Florida Financial Advisors LLC now owns 920 shares of the health services provider’s stock worth $254,000 after buying an additional 60 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of The Cigna Group by 93.7% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 10,162 shares of the health services provider’s stock worth $2,806,000 after acquiring an additional 4,916 shares during the period. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Trading Up 1.1 %

Shares of CI opened at $324.74 on Friday. 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 Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The stock has a market cap of $88.88 billion, a price-to-earnings ratio of 26.53, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53. The firm has a 50 day simple moving average of $303.86 and a 200-day simple moving average of $314.31.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing the consensus estimate 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 period in the previous year, the company posted $6.79 EPS. Equities analysts forecast that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were paid a dividend of $1.51 per share. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a dividend yield of 1.86%. The ex-dividend date was Wednesday, March 5th. The Cigna Group’s dividend payout ratio (DPR) is currently 49.35%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on CI shares. Oppenheimer dropped their price target on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a research note on Friday, January 31st. Stephens cut their target price on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Barclays reduced their price target on 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 report on Friday, January 31st. Finally, UBS Group reduced their target price on The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $373.25.

Insider Transactions at The Cigna Group

In other The Cigna Group news, Director Elder Granger sold 2,376 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $310.35, for a total transaction of $737,391.60. Following the transaction, the director now owns 5,471 shares of the company’s stock, valued at $1,697,924.85. This represents a 30.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO David Cordani sold 26,527 shares of The Cigna Group stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $8,173,499.24. Following the completion of the sale, the chief executive officer now directly owns 127,767 shares of the company’s stock, valued at approximately $39,367,568.04. This represents a 17.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,751 shares of company stock worth $13,603,991 over the last ninety days. 0.60% of the stock is currently owned by corporate insiders.

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.