Livforsakringsbolaget Skandia Omsesidigt Has $7.12 Million Stake in The Cigna Group (NYSE:CI)

Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of The Cigna Group (NYSE:CI) by 2.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,767 shares of the health services provider’s stock after purchasing an additional 612 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in The Cigna Group were worth $7,117,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CI. Axiom Financial Strategies LLC acquired a new position in The Cigna Group in the first quarter valued at approximately $212,000. Fairfield Bush & CO. acquired a new position in The Cigna Group in the first quarter valued at approximately $40,000. Cibc World Market Inc. lifted its holdings in The Cigna Group by 52.6% in the first quarter. Cibc World Market Inc. now owns 18,975 shares of the health services provider’s stock valued at $4,547,000 after buying an additional 6,538 shares during the period. Vontobel Holding Ltd. lifted its holdings in The Cigna Group by 6.5% in the first quarter. Vontobel Holding Ltd. now owns 9,212 shares of the health services provider’s stock valued at $2,265,000 after buying an additional 566 shares during the period. Finally, Sequoia Financial Advisors LLC increased its stake in The Cigna Group by 36.5% in the first quarter. Sequoia Financial Advisors LLC now owns 1,283 shares of the health services provider’s stock valued at $307,000 after purchasing an additional 343 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Stock Down 0.3 %

The Cigna Group stock traded down $0.99 during mid-day trading on Wednesday, reaching $345.86. The company’s stock had a trading volume of 1,426,502 shares, compared to its average volume of 1,605,991. The company has a market capitalization of $101.12 billion, a price-to-earnings ratio of 19.94, a price-to-earnings-growth ratio of 1.07 and a beta of 0.56. The Cigna Group has a 12 month low of $240.50 and a 12 month high of $365.71. The business’s 50 day simple moving average is $347.42 and its 200 day simple moving average is $314.57. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.67 and a current ratio of 0.67.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Friday, February 2nd. The health services provider reported $6.79 EPS for the quarter, beating analysts’ consensus estimates of $6.54 by $0.25. The firm had revenue of $51.15 billion during the quarter, compared to analysts’ expectations of $48.91 billion. The Cigna Group had a net margin of 2.64% and a return on equity of 13.59%. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter last year, the company posted $4.96 earnings per share. As a group, research analysts anticipate that The Cigna Group will post 28.36 earnings per share for the current year.

The Cigna Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th were paid a $1.40 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $5.60 dividend on an annualized basis and a yield of 1.62%. This is a boost from The Cigna Group’s previous quarterly dividend of $1.23. The Cigna Group’s dividend payout ratio (DPR) is currently 32.20%.

Wall Street Analysts Forecast Growth

CI has been the subject of several recent analyst reports. Royal Bank of Canada raised shares of The Cigna Group from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $327.00 to $354.00 in a research note on Monday, February 5th. Mizuho upped their target price on shares of The Cigna Group from $360.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, February 5th. Sanford C. Bernstein raised shares of The Cigna Group from a “market perform” rating to an “outperform” rating and upped their target price for the company from $330.00 to $372.00 in a research note on Thursday, January 4th. Morgan Stanley reaffirmed an “overweight” rating and issued a $392.00 target price (up previously from $382.00) on shares of The Cigna Group in a research note on Monday, March 4th. Finally, Oppenheimer reissued an “outperform” rating and set a $360.00 price objective on shares of The Cigna Group in a research report on Wednesday, January 17th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, The Cigna Group has an average rating of “Buy” and a consensus price target of $362.14.

Insider Buying and Selling at The Cigna Group

In other news, CEO David Cordani sold 38,065 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $335.22, for a total transaction of $12,760,149.30. Following the completion of the sale, the chief executive officer now owns 329,321 shares in the company, valued at approximately $110,394,985.62. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other The Cigna Group news, insider Eric P. Palmer sold 6,083 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $340.00, for a total value of $2,068,220.00. Following the completion of the sale, the insider now owns 44,649 shares of the company’s stock, valued at approximately $15,180,660. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Cordani sold 38,065 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $335.22, for a total transaction of $12,760,149.30. Following the completion of the sale, the chief executive officer now directly owns 329,321 shares of the company’s stock, valued at approximately $110,394,985.62. The disclosure for this sale can be found here. Insiders sold a total of 114,144 shares of company stock worth $39,296,330 over the last quarter. 0.70% of the stock is currently owned by insiders.

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.