AMF Tjanstepension AB Has $40.88 Million Stock Holdings in The Cigna Group (NYSE:CI)

AMF Tjanstepension AB grew its position in The Cigna Group (NYSE:CI) by 101.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 147,991 shares of the health services provider’s stock after purchasing an additional 74,391 shares during the quarter. AMF Tjanstepension AB’s holdings in The Cigna Group were worth $40,879,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Raymond James Financial Inc. bought a new position in The Cigna Group in the 4th quarter worth $313,911,000. Swedbank AB boosted its holdings in The Cigna Group by 55.1% during the fourth quarter. Swedbank AB now owns 884,406 shares of the health services provider’s stock valued at $244,220,000 after acquiring an additional 314,123 shares during the period. FMR LLC grew its position in shares of The Cigna Group by 2.0% in the third quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock valued at $4,929,978,000 after purchasing an additional 279,880 shares during the last quarter. Proficio Capital Partners LLC increased its stake in shares of The Cigna Group by 34,280.8% in the fourth quarter. Proficio Capital Partners LLC now owns 238,603 shares of the health services provider’s stock worth $65,888,000 after purchasing an additional 237,909 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in shares of The Cigna Group by 68.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 497,875 shares of the health services provider’s stock worth $137,483,000 after purchasing an additional 202,161 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at The Cigna Group

In related news, CEO David Cordani sold 26,527 shares of The Cigna Group stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $8,173,499.24. Following the completion of the transaction, the chief executive officer now directly owns 127,767 shares of the company’s stock, valued at $39,367,568.04. The trade was a 17.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Nicole S. Jones sold 4,904 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the transaction, the insider now owns 29,421 shares in the company, valued at approximately $9,065,198.52. This trade represents a 14.29 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CI. Barclays lowered their target price on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Truist Financial lowered 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. Piper Sandler reiterated an “overweight” rating and set a $348.00 target price (down from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Stephens decreased their price target on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Finally, Morgan Stanley cut their price objective 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. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, The Cigna Group has a consensus rating of “Buy” and an average price target of $372.31.

The Cigna Group Trading Up 1.9 %

CI stock opened at $321.48 on Friday. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. 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 business’s 50 day moving average is $292.84 and its 200-day moving average is $317.89. The firm has a market cap of $89.42 billion, a P/E ratio of 26.26, a P/E/G ratio of 0.98 and a beta of 0.54.

The Cigna Group (NYSE:CI) last announced 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 period in the prior year, the firm earned $6.79 earnings per share. Equities analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be issued a dividend of $1.51 per share. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a yield of 1.88%. The ex-dividend date is Wednesday, March 5th. The Cigna Group’s dividend payout ratio (DPR) is currently 49.35%.

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.