Brandes Investment Partners LP Has $172.17 Million Stake in The Cigna Group (NYSE:CI)

Brandes Investment Partners LP lifted its holdings in shares of The Cigna Group (NYSE:CI) by 20.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 623,494 shares of the health services provider’s stock after acquiring an additional 105,430 shares during the period. The Cigna Group accounts for about 1.9% of Brandes Investment Partners LP’s portfolio, making the stock its 11th biggest position. Brandes Investment Partners LP’s holdings in The Cigna Group were worth $172,172,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Hills Bank & Trust Co grew its holdings in The Cigna Group by 2.6% during the fourth quarter. Hills Bank & Trust Co now owns 1,959 shares of the health services provider’s stock valued at $541,000 after purchasing an additional 49 shares during the period. Intact Investment Management Inc. grew its holdings in The Cigna Group by 550.0% during the fourth quarter. Intact Investment Management Inc. now owns 1,300 shares of the health services provider’s stock valued at $359,000 after purchasing an additional 1,100 shares during the period. Wellington Shields Capital Management LLC grew its holdings in The Cigna Group by 4.6% during the fourth quarter. Wellington Shields Capital Management LLC now owns 2,156 shares of the health services provider’s stock valued at $595,000 after purchasing an additional 95 shares during the period. King Wealth Management Group grew its holdings in The Cigna Group by 49.7% during the fourth quarter. King Wealth Management Group now owns 12,276 shares of the health services provider’s stock valued at $3,390,000 after purchasing an additional 4,075 shares during the period. Finally, LBP AM SA grew its holdings in The Cigna Group by 56.2% during the fourth quarter. LBP AM SA now owns 32,594 shares of the health services provider’s stock valued at $9,001,000 after purchasing an additional 11,732 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Stock Performance

NYSE CI opened at $313.35 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The firm’s fifty day moving average price is $296.79 and its two-hundred day moving average price is $316.78. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The firm has a market capitalization of $85.76 billion, a P/E ratio of 25.60, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same quarter in the prior year, the business earned $6.79 EPS. As a group, research analysts anticipate that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be given a dividend of $1.51 per share. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend is Wednesday, March 5th. The Cigna Group’s dividend payout ratio is 49.35%.

Insiders Place Their Bets

In other The Cigna Group news, insider Nicole S. Jones sold 4,904 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $1,511,020.48. Following the transaction, the insider now directly owns 29,421 shares in the company, valued at $9,065,198.52. The trade was a 14.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Noelle K. Eder sold 9,944 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $320.00, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,375 shares of company stock valued at $12,866,600. 0.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CI shares. Barclays decreased their price objective on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a report on Friday, January 31st. StockNews.com raised shares of The Cigna Group from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Sanford C. Bernstein lowered shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price target on the stock. in a research note on Thursday, February 6th. UBS Group cut their price target on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Finally, Morgan Stanley cut their price target 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. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, The Cigna Group currently has a consensus rating of “Buy” and a consensus target price of $372.31.

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.