OMERS ADMINISTRATION Corp Purchases 2,029 Shares of The Cigna Group (NYSE:CI)

OMERS ADMINISTRATION Corp raised its position in The Cigna Group (NYSE:CI) by 20.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,169 shares of the health services provider’s stock after buying an additional 2,029 shares during the period. OMERS ADMINISTRATION Corp’s holdings in The Cigna Group were worth $3,360,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in The Cigna Group in the 4th quarter valued at $867,785,000. T. Rowe Price Investment Management Inc. bought a new stake in shares of The Cigna Group during the fourth quarter worth $724,517,000. Raymond James Financial Inc. acquired a new stake in shares of The Cigna Group in the fourth quarter valued at $313,911,000. GQG Partners LLC increased its stake in shares of The Cigna Group by 22.4% in the fourth quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider’s stock valued at $1,110,520,000 after buying an additional 737,099 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of The Cigna Group by 4.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 11,556,278 shares of the health services provider’s stock valued at $3,191,151,000 after buying an additional 501,320 shares during the last quarter. 86.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

CI has been the topic of a number of research analyst reports. Morgan Stanley increased their price objective on shares of The Cigna Group from $379.00 to $390.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. Stephens decreased their price target on shares of 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. Piper Sandler raised their price target on shares of The Cigna Group from $348.00 to $374.00 and gave the company an “overweight” rating in a report on Monday, May 5th. Truist Financial boosted their price objective on shares of The Cigna Group from $385.00 to $405.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Barclays increased their price objective on The Cigna Group from $339.00 to $382.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $379.33.

The Cigna Group Trading Down 4.4%

CI opened at $301.90 on Wednesday. The firm’s fifty day moving average is $325.67 and its two-hundred day moving average is $309.94. The firm has a market cap of $80.65 billion, a PE ratio of 24.67, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, topping the consensus estimate of $6.35 by $0.39. The business had revenue of $65.45 billion for the quarter, compared to the consensus estimate of $60.39 billion. The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. The firm’s revenue was up 14.4% compared to the same quarter last year. During the same quarter last year, the business posted $6.47 EPS. Equities research analysts anticipate that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be given a $1.51 dividend. The ex-dividend date is Tuesday, June 3rd. This represents a $6.04 annualized dividend and a dividend yield of 2.00%. The Cigna Group’s dividend payout ratio is presently 33.44%.

Insider Buying and Selling

In other news, insider Noelle K. Eder sold 9,944 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 13,406 shares in the company, valued at $4,289,920. The trade was a 42.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Elder Granger sold 2,376 shares of the company’s 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 transaction, the director now directly owns 5,471 shares of the company’s stock, valued at $1,697,924.85. This represents a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 43,751 shares of company stock valued at $13,603,991. 0.70% of the stock is owned by corporate insiders.

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.