Dimensional Fund Advisors LP Grows Stock Position in The Cigna Group (NYSE:CI)

Dimensional Fund Advisors LP boosted its stake in shares of The Cigna Group (NYSE:CI) by 0.7% in the 4th quarter, HoldingsChannel reports. The fund owned 2,450,463 shares of the health services provider’s stock after buying an additional 18,059 shares during the quarter. Dimensional Fund Advisors LP’s holdings in The Cigna Group were worth $676,655,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CI. TCTC Holdings LLC purchased a new stake in shares of The Cigna Group during the fourth quarter worth about $25,000. Collier Financial bought a new position in The Cigna Group during the 4th quarter valued at approximately $32,000. ORG Wealth Partners LLC purchased a new stake in The Cigna Group in the 4th quarter worth approximately $34,000. Compagnie Lombard Odier SCmA bought a new stake in shares of The Cigna Group in the 4th quarter worth approximately $37,000. Finally, Heck Capital Advisors LLC purchased a new position in shares of The Cigna Group during the fourth quarter valued at approximately $53,000. 86.99% of the stock is currently owned by institutional investors.

Insider Transactions at The Cigna Group

In other news, CEO David Cordani sold 26,527 shares of the company’s stock in a transaction dated 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 owns 127,767 shares of the company’s stock, valued at $39,367,568.04. This represents a 17.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Nicole S. Jones sold 4,904 shares of the business’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 completion of the transaction, the insider now directly owns 29,421 shares in the company, valued at approximately $9,065,198.52. This represents a 14.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,751 shares of company stock valued at $13,603,991 over the last quarter. 0.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CI has been the topic of several recent analyst reports. Royal Bank of Canada set a $355.00 price target on shares of The Cigna Group in a report on Friday, January 31st. Stephens decreased their price target on shares of 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. Cantor Fitzgerald raised their target price on shares of The Cigna Group from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. Truist Financial raised their price objective on The Cigna Group from $375.00 to $385.00 and gave the company a “buy” rating in a research report on Friday, April 11th. Finally, Piper Sandler reissued an “overweight” rating and issued a $348.00 target price (down from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, The Cigna Group presently has an average rating of “Buy” and a consensus price target of $373.56.

The Cigna Group Price Performance

NYSE CI opened at $329.97 on Friday. The company has a 50-day moving average price of $315.87 and a 200-day moving average price of $310.95. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $90.30 billion, a P/E ratio of 26.96, a PEG ratio of 0.98 and a beta of 0.51.

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 quarter in the prior year, the company earned $6.79 earnings per share. Equities research analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were given a $1.51 dividend. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a yield of 1.83%. The Cigna Group’s dividend payout ratio is presently 49.35%.

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.