Generali Asset Management SPA SGR Takes $7.20 Million Position in The Cigna Group (NYSE:CI)

Generali Asset Management SPA SGR bought a new stake in The Cigna Group (NYSE:CI) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 26,078 shares of the health services provider’s stock, valued at approximately $7,201,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Swedbank AB increased its holdings in shares of The Cigna Group by 26.6% in the third quarter. Swedbank AB now owns 570,283 shares of the health services provider’s stock valued at $197,569,000 after purchasing an additional 119,681 shares during the last quarter. AMG National Trust Bank increased its holdings in shares of The Cigna Group by 5.7% in the third quarter. AMG National Trust Bank now owns 4,072 shares of the health services provider’s stock valued at $1,411,000 after purchasing an additional 218 shares during the last quarter. OneAscent Wealth Management LLC acquired a new stake in shares of The Cigna Group in the third quarter valued at approximately $358,000. OneAscent Financial Services LLC acquired a new stake in shares of The Cigna Group in the third quarter valued at approximately $454,000. Finally, Meeder Asset Management Inc. increased its holdings in shares of The Cigna Group by 353.5% in the third quarter. Meeder Asset Management Inc. now owns 11,800 shares of the health services provider’s stock valued at $4,088,000 after purchasing an additional 9,198 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. UBS Group cut their price target on The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Piper Sandler reaffirmed an “overweight” rating and issued a $348.00 price target (down previously from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Cantor Fitzgerald cut their target price on The Cigna Group from $400.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Wells Fargo & Company cut their target price on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Finally, Morgan Stanley cut their target price on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, The Cigna Group has a consensus rating of “Buy” and an average target price of $372.31.

The Cigna Group Trading Up 1.7 %

Shares of NYSE CI opened at $322.15 on Wednesday. The Cigna Group has a twelve month low of $262.03 and a twelve month 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 stock has a fifty day simple moving average of $298.39 and a 200-day simple moving average of $315.64. The stock has a market capitalization of $88.17 billion, a PE ratio of 26.32, a PEG ratio of 0.98 and a beta of 0.53.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) 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 previous year, the business earned $6.79 earnings per share. On average, equities analysts forecast that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The business also recently announced 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. 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 dividend on an annualized basis and a yield of 1.87%. The Cigna Group’s dividend payout ratio (DPR) is 49.35%.

Insider Activity at The Cigna Group

In related news, insider Noelle K. Eder sold 9,944 shares of The Cigna Group stock in a transaction on Friday, March 7th. The stock was sold at an average price of $320.00, for a total value of $3,182,080.00. Following the completion of the transaction, the insider now directly owns 13,406 shares in the company, valued at approximately $4,289,920. This trade represents a 42.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Elder Granger sold 2,376 shares of The Cigna Group stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $310.35, for a total value of $737,391.60. Following the sale, the director now directly owns 5,471 shares of the company’s stock, valued at $1,697,924.85. This trade represents a 30.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,751 shares of company stock worth $13,603,991. Company insiders own 0.60% of the company’s stock.

About The Cigna Group

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.