Handelsbanken Fonder AB Has $27.83 Million Stock Position in The Cigna Group (NYSE:CI)

Handelsbanken Fonder AB decreased its position in shares of The Cigna Group (NYSE:CI) by 14.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 92,946 shares of the health services provider’s stock after selling 15,098 shares during the period. Handelsbanken Fonder AB’s holdings in The Cigna Group were worth $27,833,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of CI. Signaturefd LLC lifted its position in shares of The Cigna Group by 2.1% in the fourth quarter. Signaturefd LLC now owns 4,923 shares of the health services provider’s stock worth $1,474,000 after buying an additional 101 shares during the last quarter. Verdence Capital Advisors LLC lifted its position in shares of The Cigna Group by 3.7% in the fourth quarter. Verdence Capital Advisors LLC now owns 4,952 shares of the health services provider’s stock worth $1,483,000 after buying an additional 177 shares during the last quarter. abrdn plc lifted its position in shares of The Cigna Group by 28.5% during the 4th quarter. abrdn plc now owns 365,387 shares of the health services provider’s stock worth $109,415,000 after purchasing an additional 81,092 shares during the last quarter. J.W. Cole Advisors Inc. lifted its position in shares of The Cigna Group by 23.8% during the 4th quarter. J.W. Cole Advisors Inc. now owns 2,285 shares of the health services provider’s stock worth $684,000 after purchasing an additional 440 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. acquired a new position in shares of The Cigna Group during the 4th quarter worth about $67,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Royal Bank of Canada raised The Cigna Group from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $327.00 to $354.00 in a research report on Monday, February 5th. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 14th. Wells Fargo & Company boosted their price objective on The Cigna Group from $334.00 to $348.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. Morgan Stanley restated an “overweight” rating and set a $392.00 price target (up from $382.00) on shares of The Cigna Group in a research note on Monday, March 4th. Finally, Mizuho boosted their price target on The Cigna Group from $360.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, February 5th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $362.14.

The Cigna Group Stock Up 0.2 %

NYSE:CI opened at $353.18 on Tuesday. The stock’s fifty day moving average price is $348.73 and its two-hundred day moving average price is $316.39. The Cigna Group has a 52-week low of $240.50 and a 52-week high of $365.71. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.67 and a current ratio of 0.67. The company has a market cap of $103.26 billion, a price-to-earnings ratio of 20.31, a P/E/G ratio of 1.08 and a beta of 0.56.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Friday, February 2nd. The health services provider reported $6.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.54 by $0.25. The Cigna Group had a return on equity of 13.59% and a net margin of 2.64%. The firm had revenue of $51.15 billion for the quarter, compared to the consensus estimate of $48.91 billion. During the same quarter in the prior year, the business earned $4.96 EPS. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. On average, analysts anticipate that The Cigna Group will post 28.36 EPS for the current year.

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Wednesday, March 6th were given a $1.40 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.59%. This is a boost from The Cigna Group’s previous quarterly dividend of $1.23. The Cigna Group’s dividend payout ratio is currently 32.20%.

Insider Activity at The Cigna Group

In related news, CEO David Cordani sold 38,065 shares of the company’s 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 completion of the sale, the chief executive officer now owns 329,321 shares in the company, valued at approximately $110,394,985.62. The transaction was disclosed in a filing with the SEC, which is available through this link. In other The Cigna Group news, CEO David Cordani sold 38,065 shares of the stock in a transaction dated Friday, February 9th. The stock was 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 owns 329,321 shares in the company, valued at approximately $110,394,985.62. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Eric P. Palmer sold 6,083 shares of the stock in a transaction dated Tuesday, February 13th. The stock was 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 disclosure for this sale can be found here. Insiders sold a total of 114,144 shares of company stock worth $39,296,330 in the last quarter. Corporate insiders own 0.70% of the company’s stock.

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.