North Dakota State Investment Board purchased a new stake in Cigna Group (NYSE:CI – Free Report) during the 4th quarter, HoldingsChannel reports. The fund purchased 9,032 shares of the health services provider’s stock, valued at approximately $2,486,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Cigna Group by 11.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,235 shares of the health services provider’s stock valued at $13,039,000 after buying an additional 4,738 shares in the last quarter. Maj Invest Holding A S raised its holdings in shares of Cigna Group by 2.4% during the 3rd quarter. Maj Invest Holding A S now owns 422,728 shares of the health services provider’s stock valued at $121,854,000 after buying an additional 10,042 shares in the last quarter. Providence Capital Advisors LLC raised its holdings in shares of Cigna Group by 1,016.8% during the 3rd quarter. Providence Capital Advisors LLC now owns 8,510 shares of the health services provider’s stock valued at $2,453,000 after buying an additional 7,748 shares in the last quarter. National Pension Service raised its holdings in shares of Cigna Group by 3.2% during the 3rd quarter. National Pension Service now owns 683,751 shares of the health services provider’s stock valued at $197,091,000 after buying an additional 21,203 shares in the last quarter. Finally, Caprock Group LLC purchased a new position in shares of Cigna Group during the 3rd quarter valued at about $4,124,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.
Cigna Group Price Performance
Shares of CI stock opened at $286.14 on Tuesday. The firm has a market cap of $75.69 billion, a P/E ratio of 12.13, a P/E/G ratio of 1.00 and a beta of 0.30. Cigna Group has a fifty-two week low of $239.51 and a fifty-two week high of $338.89. The business’s 50 day moving average price is $275.05 and its 200-day moving average price is $275.57. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.73 and a current ratio of 0.73.
Cigna Group Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, June 4th will be given a $1.56 dividend. This represents a $6.24 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Thursday, June 4th. Cigna Group’s dividend payout ratio (DPR) is currently 26.45%.
Insider Transactions at Cigna Group
In other news, CEO David Cordani sold 201,878 shares of Cigna Group stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $292.82, for a total value of $59,113,915.96. Following the sale, the chief executive officer directly owned 34,337 shares in the company, valued at approximately $10,054,560.34. This trade represents a 85.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Everett Neville sold 1,719 shares of Cigna Group stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $288.91, for a total value of $496,636.29. Following the completion of the sale, the insider owned 5,670 shares in the company, valued at approximately $1,638,119.70. This represents a 23.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 205,904 shares of company stock worth $60,277,068. 0.60% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
CI has been the topic of a number of research reports. Raymond James Financial set a $340.00 price objective on Cigna Group in a report on Friday, May 1st. Truist Financial raised their price target on Cigna Group from $320.00 to $350.00 and gave the stock a “buy” rating in a research report on Tuesday, February 17th. Cantor Fitzgerald raised their price target on Cigna Group from $325.00 to $340.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. The Goldman Sachs Group raised their price target on Cigna Group from $335.00 to $340.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Finally, Leerink Partners raised their price target on Cigna Group from $270.00 to $297.00 and gave the stock a “market perform” rating in a research report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $338.35.
View Our Latest Analysis on CI
About Cigna Group
Cigna Group (NYSE: CI) is a global health services company that offers a broad portfolio of healthcare products and insurance solutions for individuals, employers, and governments. Its core businesses include medical and behavioral health plans, dental and vision coverage, pharmacy benefit management, and supplemental health products. Cigna serves a mix of commercial, Medicare, and Medicaid customers and provides workplace benefits such as group health plans and disability and life benefits for employers.
In addition to traditional insurance products, Cigna operates health services and care-delivery platforms designed to manage costs and improve outcomes.
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