Fjarde AP Fonden Fourth Swedish National Pension Fund Has $13.84 Million Stock Position in The Cigna Group (NYSE:CI)

Fjarde AP Fonden Fourth Swedish National Pension Fund lowered its stake in The Cigna Group (NYSE:CI) by 13.5% during the fourth quarter, Holdings Channel reports. The firm owned 50,104 shares of the health services provider’s stock after selling 7,800 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in The Cigna Group were worth $13,836,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CI. AMF Tjanstepension AB lifted its stake in The Cigna Group by 18.6% during the third quarter. AMF Tjanstepension AB now owns 73,600 shares of the health services provider’s stock worth $25,511,000 after purchasing an additional 11,550 shares during the last quarter. Swedbank AB raised its holdings in shares of The Cigna Group by 26.6% during the 3rd quarter. Swedbank AB now owns 570,283 shares of the health services provider’s stock worth $197,569,000 after buying an additional 119,681 shares in the last quarter. Mount Yale Investment Advisors LLC lifted its position in shares of The Cigna Group by 2.5% during the 3rd quarter. Mount Yale Investment Advisors LLC now owns 1,733 shares of the health services provider’s stock worth $600,000 after buying an additional 42 shares during the last quarter. Trueblood Wealth Management LLC acquired a new stake in The Cigna Group in the third quarter valued at about $216,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in The Cigna Group by 11.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,058 shares of the health services provider’s stock valued at $12,190,000 after acquiring an additional 3,464 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Price Performance

Shares of CI opened at $299.92 on Monday. The firm has a market cap of $83.42 billion, a PE ratio of 24.50, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The business’s 50 day moving average price is $286.35 and its two-hundred day moving average price is $319.47.

The Cigna Group (NYSE:CI) last released 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 company posted $6.79 EPS. On average, equities analysts anticipate that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be paid a $1.51 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a dividend yield of 2.01%. The Cigna Group’s dividend payout ratio (DPR) is currently 49.35%.

Analyst Upgrades and Downgrades

CI has been the subject of a number of research reports. Wells Fargo & Company dropped their target price on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft lowered their price objective on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Morgan Stanley reduced their price objective on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Raymond James reaffirmed a “strong-buy” rating and set a $360.00 target price (down from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Finally, StockNews.com upgraded The Cigna Group from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $372.31.

The Cigna Group 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.