Raiffeisen Bank International AG Invests $3.89 Million in The Cigna Group (NYSE:CI)

Raiffeisen Bank International AG purchased a new position in shares of The Cigna Group (NYSE:CI) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 14,124 shares of the health services provider’s stock, valued at approximately $3,886,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. TCTC Holdings LLC acquired a new position in shares of The Cigna Group during the 4th quarter worth $25,000. Collier Financial acquired a new stake in The Cigna Group in the 4th quarter valued at about $32,000. Compagnie Lombard Odier SCmA acquired a new stake in The Cigna Group in the 4th quarter valued at about $37,000. Transce3nd LLC acquired a new stake in The Cigna Group in the 4th quarter valued at about $38,000. Finally, Heck Capital Advisors LLC acquired a new stake in The Cigna Group in the 4th quarter valued at about $53,000. 86.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CI. Royal Bank of Canada set a $355.00 price objective on shares of The Cigna Group in a research note on Friday, January 31st. Guggenheim reissued a “buy” rating and issued a $388.00 price objective (up from $384.00) on shares of The Cigna Group in a research note on Monday, May 5th. StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 8th. Barclays raised their price target on shares of The Cigna Group from $339.00 to $382.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Finally, Cowen reaffirmed a “buy” rating on shares of The Cigna Group in a research note on Monday, May 5th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $379.33.

The Cigna Group Stock Up 1.7%

Shares of CI stock opened at $308.47 on Friday. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The firm has a market cap of $82.41 billion, a PE ratio of 25.20, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47. The stock has a 50 day moving average of $324.94 and a 200-day moving average of $309.85. 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 Cigna Group (NYSE:CI) last released its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.35 by $0.39. The business had revenue of $65.45 billion for the quarter, compared to analysts’ expectations of $60.39 billion. The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. The Cigna Group’s quarterly revenue was up 14.4% on a year-over-year basis. During the same period in the previous year, the business posted $6.47 earnings per share. On average, equities analysts predict that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be given a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date is Tuesday, June 3rd. The Cigna Group’s dividend payout ratio (DPR) is 33.44%.

Insider Buying and Selling at The Cigna Group

In related news, CEO David Cordani sold 26,527 shares of the firm’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 transaction, the chief executive officer now 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Noelle K. Eder sold 9,944 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $320.00, for a total value of $3,182,080.00. Following the completion of the transaction, the insider now owns 13,406 shares in the company, valued at approximately $4,289,920. This represents a 42.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,751 shares of company stock worth $13,603,991 over the last three months. Company insiders own 0.70% of the company’s stock.

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.