Allworth Financial LP grew its position in The Cigna Group (NYSE:CI – Get Rating) by 4.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,443 shares of the health services provider’s stock after acquiring an additional 138 shares during the period. Allworth Financial LP’s holdings in The Cigna Group were worth $1,141,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of the stock. Bank of New York Mellon Corp raised its position in shares of The Cigna Group by 9.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,108,166 shares of the health services provider’s stock worth $862,423,000 after purchasing an additional 268,793 shares during the last quarter. Amundi raised its position in shares of The Cigna Group by 7.6% during the 2nd quarter. Amundi now owns 2,132,943 shares of the health services provider’s stock worth $564,239,000 after purchasing an additional 150,412 shares during the last quarter. Putnam Investments LLC raised its position in shares of The Cigna Group by 16.5% during the 3rd quarter. Putnam Investments LLC now owns 1,997,800 shares of the health services provider’s stock worth $554,330,000 after purchasing an additional 283,323 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of The Cigna Group by 1.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,808,135 shares of the health services provider’s stock worth $433,248,000 after purchasing an additional 28,643 shares during the last quarter. Finally, UBS Asset Management Americas Inc. raised its position in shares of The Cigna Group by 6.6% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 1,611,338 shares of the health services provider’s stock worth $447,098,000 after purchasing an additional 99,144 shares during the last quarter. Institutional investors and hedge funds own 87.61% of the company’s stock.
The Cigna Group Stock Performance
NYSE:CI opened at $256.58 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a market capitalization of $76.22 billion, a P/E ratio of 12.00, a PEG ratio of 0.97 and a beta of 0.67. The company has a 50 day moving average price of $293.47 and a 200 day moving average price of $303.95. The Cigna Group has a fifty-two week low of $238.50 and a fifty-two week high of $340.11.
The Cigna Group Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 23rd. Investors of record on Wednesday, March 8th were given a dividend of $1.23 per share. The ex-dividend date was Tuesday, March 7th. This represents a $4.92 dividend on an annualized basis and a dividend yield of 1.92%. This is a boost from The Cigna Group’s previous quarterly dividend of $1.12. The Cigna Group’s dividend payout ratio (DPR) is presently 23.01%.
Insider Buying and Selling
In other The Cigna Group news, insider Michael W. Triplett sold 1,731 shares of the firm’s stock in a transaction that occurred on Friday, March 10th. The shares were sold at an average price of $271.67, for a total value of $470,260.77. Following the completion of the transaction, the insider now owns 30,235 shares of the company’s stock, valued at approximately $8,213,942.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other The Cigna Group news, CEO David Cordani sold 20,148 shares of the firm’s stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $294.06, for a total value of $5,924,720.88. Following the completion of the transaction, the chief executive officer now owns 120,496 shares of the company’s stock, valued at approximately $35,433,053.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael W. Triplett sold 1,731 shares of the firm’s stock in a transaction that occurred on Friday, March 10th. The shares were sold at an average price of $271.67, for a total transaction of $470,260.77. Following the completion of the transaction, the insider now directly owns 30,235 shares of the company’s stock, valued at approximately $8,213,942.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,752 shares of company stock valued at $8,008,479. Company insiders own 0.80% of the company’s stock.
Analysts Set New Price Targets
Several research analysts recently weighed in on the stock. Stephens restated an “overweight” rating and set a $370.00 price target on shares of The Cigna Group in a research report on Tuesday. StockNews.com downgraded shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft cut their price objective on shares of The Cigna Group from $359.00 to $348.00 in a report on Wednesday, February 8th. Wells Fargo & Company downgraded shares of The Cigna Group from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $370.00 to $355.00 in a report on Tuesday, January 3rd. Finally, JPMorgan Chase & Co. cut their price objective on shares of The Cigna Group from $378.00 to $370.00 and set an “overweight” rating for the company in a report on Thursday, February 23rd. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $339.00.
About The Cigna Group
The Cigna Group is engaged in the provision of global health services. It operates through the following segments: Evernorth, U.S. Medical, International Markets, and Group Disability and Other. The Evernorth segment includes a broad range of coordinated and point solution health services, including pharmacy solutions, benefits management solutions, care solutions and intelligence solutions.
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