Geode Capital Management LLC Acquires 101,737 Shares of The Cigna Group (NYSE:CI)

Geode Capital Management LLC lifted its holdings in shares of The Cigna Group (NYSE:CI) by 1.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 5,957,180 shares of the health services provider’s stock after acquiring an additional 101,737 shares during the period. Geode Capital Management LLC’s holdings in The Cigna Group were worth $1,640,878,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of CI. TCTC Holdings LLC purchased a new position in The Cigna Group in the fourth quarter valued at about $25,000. Collier Financial bought a new stake in shares of The Cigna Group in the 4th quarter worth approximately $32,000. ORG Wealth Partners LLC purchased a new position in The Cigna Group in the fourth quarter valued at approximately $34,000. Compagnie Lombard Odier SCmA bought a new position in The Cigna Group during the fourth quarter valued at $37,000. Finally, Heck Capital Advisors LLC purchased a new stake in The Cigna Group in the fourth quarter worth $53,000. 86.99% of the stock is currently owned by institutional investors.

The Cigna Group Stock Up 0.6 %

CI stock opened at $330.97 on Wednesday. The company’s 50 day moving average is $306.43 and its 200 day moving average is $313.00. The stock has a market cap of $90.58 billion, a price-to-earnings ratio of 27.04, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53. 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 Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing analysts’ consensus estimates 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 posted $6.79 earnings per share. Sell-side analysts predict that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were paid a dividend of $1.51 per share. The ex-dividend date was Wednesday, March 5th. This represents a $6.04 annualized dividend and a yield of 1.82%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s payout ratio is 49.35%.

Analyst Ratings Changes

A number of brokerages have recently commented on CI. Cantor Fitzgerald upped their price target on The Cigna Group from $350.00 to $365.00 and gave the company an “overweight” rating in a research report on Thursday, March 20th. Morgan Stanley cut their target price on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Royal Bank of Canada set a $355.00 price target on shares of The Cigna Group in a research report on Friday, January 31st. Truist Financial dropped their price target on shares of The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $348.00 price objective (down from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $373.25.

Insider Transactions at The Cigna Group

In related news, insider Nicole S. Jones sold 4,904 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $1,511,020.48. Following the completion of the sale, the insider now owns 29,421 shares in the company, valued at $9,065,198.52. The trade was a 14.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Noelle K. Eder sold 9,944 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 13,406 shares in the company, valued at $4,289,920. The trade was a 42.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 43,751 shares of company stock worth $13,603,991. 0.70% of the stock is currently owned by corporate insiders.

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.