The Manufacturers Life Insurance Company Buys 685 Shares of The Cigna Group (NYSE:CI)

The Manufacturers Life Insurance Company lifted its stake in shares of The Cigna Group (NYSE:CIFree Report) by 0.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 302,773 shares of the health services provider’s stock after acquiring an additional 685 shares during the period. The Manufacturers Life Insurance Company’s holdings in The Cigna Group were worth $90,665,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Seizert Capital Partners LLC lifted its position in The Cigna Group by 195.8% in the 4th quarter. Seizert Capital Partners LLC now owns 32,150 shares of the health services provider’s stock valued at $9,627,000 after acquiring an additional 21,280 shares in the last quarter. Roman Butler Fullerton & Co. lifted its position in The Cigna Group by 61.4% in the 4th quarter. Roman Butler Fullerton & Co. now owns 9,307 shares of the health services provider’s stock valued at $2,772,000 after acquiring an additional 3,539 shares in the last quarter. TFO Wealth Partners LLC increased its stake in The Cigna Group by 98,980.0% in the 4th quarter. TFO Wealth Partners LLC now owns 4,954 shares of the health services provider’s stock valued at $1,497,000 after buying an additional 4,949 shares during the last quarter. Ellsworth Advisors LLC purchased a new stake in The Cigna Group in the 4th quarter valued at about $4,377,000. Finally, Sapient Capital LLC purchased a new stake in The Cigna Group in the 4th quarter valued at about $2,811,000. Institutional investors own 86.99% of the company’s stock.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, CEO David Cordani sold 2,412 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $345.73, for a total transaction of $833,900.76. Following the completion of the sale, the chief executive officer now directly owns 340,438 shares of the company’s stock, valued at $117,699,629.74. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO David Cordani sold 2,412 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $345.73, for a total value of $833,900.76. Following the completion of the sale, the chief executive officer now directly owns 340,438 shares of the company’s stock, valued at $117,699,629.74. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $348.71, for a total transaction of $2,073,429.66. Following the transaction, the senior vice president now directly owns 2,595 shares of the company’s stock, valued at $904,902.45. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 70,366 shares of company stock valued at $24,750,755. Insiders own 0.70% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Cantor Fitzgerald increased their price objective on shares of The Cigna Group from $384.00 to $400.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Morgan Stanley restated an “overweight” rating and set a $392.00 price target (up previously from $382.00) on shares of The Cigna Group in a research note on Monday, March 4th. Barclays started coverage on shares of The Cigna Group in a research note on Wednesday, March 6th. They set an “overweight” rating and a $393.00 price target for the company. Oppenheimer raised their price target on shares of The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Finally, Robert W. Baird started coverage on shares of The Cigna Group in a research note on Thursday, May 30th. They set an “outperform” rating and a $388.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, The Cigna Group presently has a consensus rating of “Buy” and a consensus target price of $373.87.

Read Our Latest Stock Analysis on The Cigna Group

The Cigna Group Trading Down 2.5 %

The Cigna Group stock traded down $8.56 during mid-day trading on Tuesday, hitting $331.53. The company’s stock had a trading volume of 396,443 shares, compared to its average volume of 1,628,116. The stock has a market cap of $94.18 billion, a price-to-earnings ratio of 28.05, a price-to-earnings-growth ratio of 1.05 and a beta of 0.54. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.71 and a quick ratio of 0.71. The Cigna Group has a 12 month low of $253.95 and a 12 month high of $365.71. The business has a 50 day moving average price of $348.92 and a 200-day moving average price of $325.54.

The Cigna Group (NYSE:CIGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The health services provider reported $6.47 earnings per share for the quarter, topping analysts’ consensus estimates of $6.17 by $0.30. The business had revenue of $57.25 billion for the quarter, compared to analysts’ expectations of $56.59 billion. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The business’s revenue was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.41 earnings per share. As a group, analysts forecast that The Cigna Group will post 28.47 EPS for the current year.

The Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th will be issued a dividend of $1.40 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.69%. The Cigna Group’s dividend payout ratio is currently 45.98%.

About The Cigna Group

(Free Report)

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.

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Institutional Ownership by Quarter for The Cigna Group (NYSE:CI)

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