Blueshift Asset Management LLC Makes New $895,000 Investment in The Cigna Group (NYSE:CI)

Blueshift Asset Management LLC purchased a new position in shares of The Cigna Group (NYSE:CI) in the 4th quarter, Holdings Channel reports. The firm purchased 3,241 shares of the health services provider’s stock, valued at approximately $895,000.

Several other institutional investors also recently modified their holdings of CI. Raymond James Financial Inc. acquired a new position in shares of The Cigna Group during the fourth quarter worth $313,911,000. Amundi increased its holdings in shares of The Cigna Group by 19.9% during the fourth quarter. Amundi now owns 2,254,050 shares of the health services provider’s stock worth $628,579,000 after buying an additional 374,865 shares in the last quarter. Swedbank AB increased its holdings in shares of The Cigna Group by 55.1% during the fourth quarter. Swedbank AB now owns 884,406 shares of the health services provider’s stock worth $244,220,000 after buying an additional 314,123 shares in the last quarter. FMR LLC increased its holdings in shares of The Cigna Group by 2.0% during the third quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock worth $4,929,978,000 after buying an additional 279,880 shares in the last quarter. Finally, Proficio Capital Partners LLC increased its holdings in shares of The Cigna Group by 34,280.8% during the fourth quarter. Proficio Capital Partners LLC now owns 238,603 shares of the health services provider’s stock worth $65,888,000 after buying an additional 237,909 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Stock Performance

Shares of CI opened at $320.74 on Thursday. The stock has a market capitalization of $87.78 billion, a P/E ratio of 26.20, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53. The firm’s fifty day simple moving average is $299.23 and its two-hundred day simple moving average is $315.68. 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 12 month low of $262.03 and a 12 month high of $370.83.

The Cigna Group (NYSE:CI) last released its quarterly earnings data 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 return on equity of 18.61% and a net margin of 1.39%. During the same quarter in the prior year, the firm posted $6.79 EPS. As a group, analysts predict that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date is Wednesday, March 5th. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio is 49.35%.

Wall Street Analyst Weigh In

CI has been the subject of several research analyst reports. Royal Bank of Canada set a $355.00 price target on shares of The Cigna Group in a report on Friday, January 31st. Truist Financial reduced their price objective 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. Stephens reduced their price objective on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. UBS Group reduced their price objective 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, Piper Sandler reissued an “overweight” rating and issued a $348.00 price objective (down previously from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, The Cigna Group currently has a consensus rating of “Buy” and a consensus target price of $372.31.

Insider Buying and Selling

In related news, CEO David Cordani sold 26,527 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $8,173,499.24. Following the sale, the chief executive officer now owns 127,767 shares in the company, valued at $39,367,568.04. This represents a 17.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Elder Granger sold 2,376 shares of the company’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $310.35, for a total transaction of $737,391.60. Following the completion of the sale, the director now owns 5,471 shares in the company, valued at $1,697,924.85. This represents a 30.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,751 shares of company stock worth $13,603,991 in the last quarter. Insiders own 0.60% of the company’s stock.

The Cigna Group Company 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.