One Capital Management LLC Increases Position in The Cigna Group (NYSE:CI)

One Capital Management LLC grew its holdings in The Cigna Group (NYSE:CI) by 0.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 39,339 shares of the health services provider’s stock after buying an additional 324 shares during the period. One Capital Management LLC’s holdings in The Cigna Group were worth $10,863,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CI. Raymond James Financial Inc. purchased a new stake in shares of The Cigna Group in the fourth quarter valued at about $313,911,000. Swedbank AB raised its holdings in shares of The Cigna Group by 55.1% in the fourth quarter. Swedbank AB now owns 884,406 shares of the health services provider’s stock valued at $244,220,000 after buying an additional 314,123 shares during the last quarter. FMR LLC raised its holdings 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 buying an additional 279,880 shares during the last quarter. Proficio Capital Partners LLC raised its holdings 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 valued at $65,888,000 after buying an additional 237,909 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of The Cigna Group by 68.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 497,875 shares of the health services provider’s stock valued at $137,483,000 after buying an additional 202,161 shares during the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO David Cordani sold 26,527 shares of the firm’s 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 sale, the chief executive officer now owns 127,767 shares in the company, valued at approximately $39,367,568.04. This trade represents a 17.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nicole S. Jones sold 4,904 shares of the firm’s stock in a transaction that occurred on 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 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.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CI shares. Stephens cut their price target on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Truist Financial cut their price target on shares of The Cigna Group from $390.00 to $375.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. Cantor Fitzgerald cut their price target on shares of The Cigna Group from $400.00 to $350.00 and set an “overweight” rating for the company in a report on Friday, January 31st. StockNews.com raised shares of The Cigna Group from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. Finally, Morgan Stanley cut their price target on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $372.31.

The Cigna Group Stock Up 0.3 %

CI stock opened at $309.84 on Thursday. The company’s 50 day simple moving average is $291.31 and its 200-day simple moving average is $318.05. The firm has a market capitalization of $86.18 billion, a PE ratio of 25.31, a P/E/G ratio of 0.98 and a beta of 0.54. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. 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 Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing the consensus estimate 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 earnings per share. Equities analysts expect that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be given a $1.51 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a dividend yield of 1.95%. The Cigna Group’s dividend payout ratio is currently 49.35%.

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.