25,085 Shares in The Cigna Group (NYSE:CI) Acquired by Allianz SE

Allianz SE acquired a new position in shares of The Cigna Group (NYSE:CI) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 25,085 shares of the health services provider’s stock, valued at approximately $6,902,000.

Other institutional investors have also modified their holdings of the company. Sterling Financial Group Inc. acquired a new position in The Cigna Group in the fourth quarter valued at $4,367,000. Principal Financial Group Inc. boosted its position in shares of The Cigna Group by 3.6% in the 3rd quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider’s stock valued at $112,216,000 after purchasing an additional 11,228 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. grew its stake in The Cigna Group by 1.1% during the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider’s stock worth $20,942,000 after buying an additional 858 shares during the last quarter. Valley Wealth Managers Inc. grew its stake in The Cigna Group by 2.8% during the 4th quarter. Valley Wealth Managers Inc. now owns 56,933 shares of the health services provider’s stock worth $15,721,000 after buying an additional 1,548 shares during the last quarter. Finally, Pine Valley Investments Ltd Liability Co increased its position in The Cigna Group by 28.3% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 15,713 shares of the health services provider’s stock worth $5,444,000 after buying an additional 3,466 shares during the period. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Raymond James reaffirmed a “strong-buy” rating and issued a $360.00 target price (down from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Sanford C. Bernstein downgraded The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective for the company. in a research note on Thursday, February 6th. Cantor Fitzgerald upped their price target on The Cigna Group from $350.00 to $365.00 and gave the stock an “overweight” rating in a research note on Thursday, March 20th. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, Stephens dropped their target price on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $373.25.

The Cigna Group Price Performance

CI stock opened at $324.97 on Friday. The company has a market capitalization of $88.94 billion, a PE ratio of 26.55, a P/E/G ratio of 0.98 and a beta of 0.53. 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 stock’s 50 day moving average is $304.67 and its two-hundred day moving average is $314.08. 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 issued its earnings results 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 business posted $6.79 earnings per share. Analysts predict that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were paid a dividend of $1.51 per share. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend was Wednesday, March 5th. The Cigna Group’s dividend payout ratio is presently 49.35%.

Insider Buying and Selling at The Cigna Group

In other news, Director Elder Granger sold 2,376 shares of the business’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $310.35, for a total transaction of $737,391.60. Following the sale, the director now directly owns 5,471 shares of the company’s stock, valued at $1,697,924.85. The trade was a 30.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Noelle K. Eder sold 9,944 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the completion of the sale, the insider now owns 13,406 shares of the company’s stock, valued at $4,289,920. This represents a 42.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,751 shares of company stock worth $13,603,991. 0.70% of the stock is owned by insiders.

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.