Erste Asset Management GmbH Grows Stock Holdings in The Cigna Group (NYSE:CI)

Erste Asset Management GmbH increased its stake in The Cigna Group (NYSE:CI) by 1.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 51,464 shares of the health services provider’s stock after purchasing an additional 740 shares during the quarter. Erste Asset Management GmbH’s holdings in The Cigna Group were worth $14,325,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Collier Financial purchased a new position in shares of The Cigna Group in the 4th quarter worth $32,000. ORG Wealth Partners LLC purchased a new position in The Cigna Group in the fourth quarter worth about $34,000. Prospera Private Wealth LLC bought a new stake in shares of The Cigna Group during the 3rd quarter valued at about $37,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of The Cigna Group during the 4th quarter valued at about $37,000. Finally, Heck Capital Advisors LLC bought a new position in shares of The Cigna Group in the 4th quarter worth approximately $53,000. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Price Performance

Shares of The Cigna Group stock opened at $311.61 on Friday. The firm has a market cap of $85.28 billion, a PE ratio of 25.46, a PEG ratio of 0.98 and a beta of 0.53. The stock has a 50 day moving average of $296.14 and a 200 day moving average of $317.06. 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 12 month low of $262.03 and a 12 month high of $370.83.

The Cigna Group (NYSE:CI) last posted its 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 in the previous year, the business earned $6.79 earnings per share. On average, research analysts expect that The Cigna Group will post 29.77 EPS 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. Investors of record on Wednesday, March 5th will be issued a $1.51 dividend. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.94%. The Cigna Group’s dividend payout ratio (DPR) is presently 49.35%.

Insider Buying and Selling

In related news, insider Nicole S. Jones sold 4,904 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the transaction, the insider now directly owns 29,421 shares in the company, valued at approximately $9,065,198.52. This represents a 14.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Noelle K. Eder sold 9,944 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the completion of the sale, the insider now directly owns 13,406 shares of the company’s stock, valued at approximately $4,289,920. The trade was a 42.59 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,375 shares of company stock worth $12,866,600. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

CI has been the subject of several recent research reports. Wells Fargo & Company cut their target price on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Barclays reduced their price objective on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Royal Bank of Canada set a $355.00 target price on The Cigna Group in a research report on Friday, January 31st. Truist Financial cut their price target on The Cigna Group from $390.00 to $375.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. Finally, Stephens decreased their price objective on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research note 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 given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $372.31.

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.