United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Makes New $939,000 Investment in The Cigna Group (NYSE:CI)

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new stake in shares of The Cigna Group (NYSE:CI) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 3,400 shares of the health services provider’s stock, valued at approximately $939,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Eagle Asset Management Inc. raised its position in shares of The Cigna Group by 21.7% during the 3rd quarter. Eagle Asset Management Inc. now owns 10,397 shares of the health services provider’s stock valued at $3,325,000 after purchasing an additional 1,855 shares during the period. Larson Financial Group LLC lifted its position in shares of The Cigna Group by 56.3% in the third quarter. Larson Financial Group LLC now owns 261 shares of the health services provider’s stock valued at $90,000 after acquiring an additional 94 shares in the last quarter. Summit Trail Advisors LLC grew its position in shares of The Cigna Group by 21.3% during the third quarter. Summit Trail Advisors LLC now owns 2,034 shares of the health services provider’s stock worth $705,000 after purchasing an additional 357 shares in the last quarter. Dynamic Technology Lab Private Ltd boosted its position in shares of The Cigna Group by 5.6% during the third quarter. Dynamic Technology Lab Private Ltd now owns 5,338 shares of the health services provider’s stock worth $1,849,000 after acquiring an additional 285 shares during the last quarter. Finally, Loomis Sayles & Co. L P raised its stake in The Cigna Group by 21.2% during the third quarter. Loomis Sayles & Co. L P now owns 246 shares of the health services provider’s stock valued at $85,000 after purchasing an additional 43 shares in the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at The Cigna Group

In other The Cigna Group news, Director Elder Granger sold 2,376 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $1,697,924.85. This represents a 30.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Cordani sold 26,527 shares of The Cigna Group stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the completion of the transaction, the chief executive officer now directly owns 127,767 shares in the company, valued at approximately $39,367,568.04. This represents a 17.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,751 shares of company stock valued at $13,603,991 in the last three months. 0.60% of the stock is currently owned by corporate insiders.

The Cigna Group Stock Performance

Shares of CI stock opened at $316.64 on Wednesday. The company’s fifty day simple moving average is $302.25 and its 200-day simple moving average is $314.19. 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 52 week low of $262.03 and a 52 week high of $370.83. The company has a market cap of $86.66 billion, a PE ratio of 25.87, a P/E/G ratio of 0.98 and a beta of 0.53.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share 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 business earned $6.79 EPS. As a group, equities research analysts anticipate that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 1.91%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Wednesday, March 5th. The Cigna Group’s dividend payout ratio is 49.35%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CI shares. Raymond James reiterated a “strong-buy” rating and issued a $360.00 price target (down from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Piper Sandler reissued an “overweight” rating and set a $348.00 price objective (down from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Royal Bank of Canada set a $355.00 price target on The Cigna Group in a research report on Friday, January 31st. Cantor Fitzgerald upped their target price on The Cigna Group from $350.00 to $365.00 and gave the stock an “overweight” rating in a research note on Thursday, March 20th. Finally, Barclays dropped their price target on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $373.25.

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.