Banco Santander S.A. Buys 227 Shares of The Cigna Group (NYSE:CI)

Banco Santander S.A. increased its stake in shares of The Cigna Group (NYSE:CI) by 1.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,374 shares of the health services provider’s stock after purchasing an additional 227 shares during the quarter. Banco Santander S.A.’s holdings in The Cigna Group were worth $4,245,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Collier Financial bought a new position in The Cigna Group in the 4th quarter valued at $32,000. ORG Wealth Partners LLC acquired a new position in shares of The Cigna Group during the fourth quarter valued at $34,000. Prospera Private Wealth LLC bought a new position in The Cigna Group in the third quarter valued at about $37,000. Compagnie Lombard Odier SCmA acquired a new stake in The Cigna Group in the fourth quarter worth about $37,000. Finally, Harbor Capital Advisors Inc. bought a new stake in The Cigna Group during the 3rd quarter worth about $45,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Insider Activity

In other The Cigna Group news, CEO David Cordani sold 26,527 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $8,173,499.24. Following the completion of the transaction, the chief executive officer now directly owns 127,767 shares in the company, valued at $39,367,568.04. This trade represents a 17.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Nicole S. Jones sold 4,904 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $1,511,020.48. Following the sale, the insider now owns 29,421 shares in the company, valued at approximately $9,065,198.52. This represents a 14.29 % decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CI. Raymond James reiterated a “strong-buy” rating and set a $360.00 price target (down previously from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Truist Financial reduced their price target on The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. Wells Fargo & Company dropped their price objective on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Stephens reduced their target price on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Finally, StockNews.com raised The Cigna Group from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, The Cigna Group has a consensus rating of “Buy” and an average price target of $372.31.

The Cigna Group Stock Up 1.9 %

Shares of The Cigna Group stock opened at $321.48 on Friday. The firm has a market cap of $87.98 billion, a PE ratio of 26.26, a P/E/G ratio of 0.98 and a beta of 0.53. The business’s 50 day simple moving average is $292.84 and its 200 day simple moving average is $317.71. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share (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 quarter last year, the company earned $6.79 earnings per share. On average, analysts predict that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.88%. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date is Wednesday, March 5th. The Cigna Group’s dividend payout ratio is currently 49.35%.

About The Cigna Group

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.