186,900 Shares in The Cigna Group (NYSE:CI) Acquired by Parsifal Capital Management LP

Parsifal Capital Management LP acquired a new position in The Cigna Group (NYSE:CI) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 186,900 shares of the health services provider’s stock, valued at approximately $55,967,000. The Cigna Group makes up about 3.8% of Parsifal Capital Management LP’s portfolio, making the stock its 12th largest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC boosted its position in The Cigna Group by 13.8% during the third quarter. FMR LLC now owns 15,967,363 shares of the health services provider’s stock worth $4,567,783,000 after purchasing an additional 1,939,554 shares during the period. Sanders Capital LLC boosted its position in The Cigna Group by 1.3% during the fourth quarter. Sanders Capital LLC now owns 7,727,729 shares of the health services provider’s stock worth $2,314,068,000 after purchasing an additional 97,277 shares during the period. Morgan Stanley boosted its position in The Cigna Group by 4.7% during the third quarter. Morgan Stanley now owns 4,973,106 shares of the health services provider’s stock worth $1,422,657,000 after purchasing an additional 225,115 shares during the period. Norges Bank bought a new stake in The Cigna Group during the fourth quarter worth approximately $1,006,348,000. Finally, Northern Trust Corp boosted its position in The Cigna Group by 5.9% during the third quarter. Northern Trust Corp now owns 3,244,157 shares of the health services provider’s stock worth $928,056,000 after purchasing an additional 181,385 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analyst Ratings Changes

CI has been the subject of a number of recent analyst reports. Morgan Stanley reaffirmed an “overweight” rating and set a $392.00 target price (up previously from $382.00) on shares of The Cigna Group in a research report on Monday, March 4th. Baird R W raised The Cigna Group to a “strong-buy” rating in a research report on Thursday, May 30th. Barclays assumed coverage on The Cigna Group in a research report on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 price objective for the company. StockNews.com cut The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Finally, Robert W. Baird assumed coverage on The Cigna Group in a research report on Thursday, May 30th. They issued an “outperform” rating and a $388.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $373.87.

Insider Activity

In other news, CEO David Cordani sold 6,338 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $355.11, for a total value of $2,250,687.18. Following the completion of the sale, the chief executive officer now directly owns 348,054 shares in the company, valued at $123,597,455.94. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Noelle K. Eder sold 10,700 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $348.47, for a total value of $3,728,629.00. Following the completion of the sale, the insider now directly owns 15,824 shares in the company, valued at $5,514,189.28. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO David Cordani sold 6,338 shares of the firm’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $355.11, for a total value of $2,250,687.18. Following the completion of the transaction, the chief executive officer now owns 348,054 shares in the company, valued at approximately $123,597,455.94. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,193 shares of company stock worth $19,475,326. 0.70% of the stock is owned by corporate insiders.

The Cigna Group Stock Performance

CI stock traded down $1.90 during midday trading on Thursday, hitting $334.15. The stock had a trading volume of 1,166,942 shares, compared to its average volume of 1,615,955. The firm has a market capitalization of $94.92 billion, a price-to-earnings ratio of 27.43, a P/E/G ratio of 1.03 and a beta of 0.53. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $365.71. The stock has a 50-day simple moving average of $344.88 and a 200 day simple moving average of $327.80. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.75.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, May 2nd. The health services provider reported $6.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.17 by $0.30. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The firm had revenue of $57.25 billion during the quarter, compared to analyst estimates of $56.59 billion. During the same period in the prior year, the company posted $5.41 earnings per share. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. As a group, equities research analysts anticipate that The Cigna Group will post 28.47 earnings per share for the current year.

The Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th will be paid a $1.40 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.68%. The Cigna Group’s dividend payout ratio (DPR) is presently 45.98%.

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.