Franklin Resources Inc. Acquires 286,515 Shares of The Cigna Group (NYSE:CI)

Franklin Resources Inc. grew its stake in shares of The Cigna Group (NYSE:CI) by 10.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,927,223 shares of the health services provider’s stock after acquiring an additional 286,515 shares during the quarter. Franklin Resources Inc.’s holdings in The Cigna Group were worth $808,323,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in CI. CreativeOne Wealth LLC boosted its stake in shares of The Cigna Group by 3.0% during the third quarter. CreativeOne Wealth LLC now owns 1,219 shares of the health services provider’s stock valued at $422,000 after purchasing an additional 35 shares during the period. Hudson Edge Investment Partners Inc. raised its position in The Cigna Group by 1.9% during the 4th quarter. Hudson Edge Investment Partners Inc. now owns 1,883 shares of the health services provider’s stock valued at $520,000 after purchasing an additional 36 shares in the last quarter. Meridian Wealth Management LLC lifted its holdings in shares of The Cigna Group by 1.0% in the 4th quarter. Meridian Wealth Management LLC now owns 3,670 shares of the health services provider’s stock worth $1,013,000 after buying an additional 37 shares during the period. Mindset Wealth Management LLC grew its position in shares of The Cigna Group by 2.6% during the 4th quarter. Mindset Wealth Management LLC now owns 1,469 shares of the health services provider’s stock worth $406,000 after buying an additional 37 shares in the last quarter. Finally, Jacobi Capital Management LLC increased its stake in shares of The Cigna Group by 2.2% during the fourth quarter. Jacobi Capital Management LLC now owns 1,749 shares of the health services provider’s stock valued at $483,000 after buying an additional 38 shares during the period. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Price Performance

Shares of CI opened at $324.97 on Monday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72. The company’s fifty day moving average price is $304.67 and its 200-day moving average price is $313.47. 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 $88.94 billion, a PE ratio of 26.55, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data 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 last year, the business earned $6.79 earnings per share. On average, equities research analysts predict 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. Stockholders of record on Wednesday, March 5th were paid a $1.51 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.86%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio is presently 49.35%.

Analysts Set New Price Targets

CI has been the topic of several recent research reports. Oppenheimer dropped their target price on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a report 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 for the company in a research note on Monday, February 3rd. Cantor Fitzgerald increased their target price 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. Barclays cut their price target 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. Finally, Raymond James restated a “strong-buy” rating and set a $360.00 price objective (down from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $373.25.

Insider Buying and Selling

In other news, insider Nicole S. Jones sold 4,904 shares of the firm’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 sale, the insider now directly owns 29,421 shares in the company, valued at $9,065,198.52. This trade represents a 14.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David Cordani sold 26,527 shares of the 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 $8,173,499.24. Following the transaction, 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 disclosure for this sale can be found here. Insiders sold a total of 43,751 shares of company stock valued at $13,603,991 over the last 90 days. Insiders own 0.70% 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.