OFI Invest Asset Management Takes $546,000 Position in The Cigna Group (NYSE:CI)

OFI Invest Asset Management acquired a new stake in The Cigna Group (NYSE:CI) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,049 shares of the health services provider’s stock, valued at approximately $546,000.

Several other large investors have also made changes to their positions in CI. Collier Financial purchased a new position in shares of The Cigna Group in the fourth quarter valued at about $32,000. ORG Wealth Partners LLC purchased a new position in shares of The Cigna Group in the fourth quarter valued at about $34,000. Prospera Private Wealth LLC purchased a new position in shares of The Cigna Group in the third quarter valued at about $37,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of The Cigna Group in the fourth quarter worth about $37,000. Finally, Heck Capital Advisors LLC purchased a new stake in shares of The Cigna Group in the fourth quarter worth about $53,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other The Cigna Group news, insider Nicole S. Jones sold 4,904 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was 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 $9,065,198.52. This trade represents a 14.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO David Cordani sold 26,527 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $8,173,499.24. Following the transaction, the chief executive officer now owns 127,767 shares in the company, valued at $39,367,568.04. The trade was a 17.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms recently commented on CI. Morgan Stanley decreased their target price on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Sanford C. Bernstein downgraded The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 target price on the stock. in a research report on Thursday, February 6th. Oppenheimer decreased their target price on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a research report on Friday, January 31st. Stephens decreased their target price on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Finally, StockNews.com upgraded The Cigna Group from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $372.31.

The Cigna Group Trading Up 1.9 %

CI opened at $321.48 on Monday. The stock has a market cap of $87.98 billion, a price-to-earnings ratio of 26.26, a P/E/G ratio of 0.98 and a beta of 0.53. The stock’s 50 day moving average price is $292.84 and its 200-day moving average price is $317.54. The Cigna Group has a one year low of $262.03 and a one year 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 released its earnings results on Thursday, January 30th. The health services provider reported $6.64 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 prior year, the firm posted $6.79 EPS. On average, equities analysts forecast that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be paid a $1.51 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $6.04 annualized dividend and a yield of 1.88%. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio is 49.35%.

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.