Platinum Investment Management Ltd. Buys 43 Shares of The Cigna Group (NYSE:CI)

Platinum Investment Management Ltd. boosted its holdings in shares of The Cigna Group (NYSE:CI) by 15.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 316 shares of the health services provider’s stock after buying an additional 43 shares during the period. Platinum Investment Management Ltd.’s holdings in The Cigna Group were worth $87,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. TCTC Holdings LLC acquired a new stake in shares of The Cigna Group in the 4th quarter valued at approximately $25,000. Collier Financial bought a new position in shares of The Cigna Group during the 4th quarter worth approximately $32,000. ORG Wealth Partners LLC bought a new position in shares of The Cigna Group during the 4th quarter worth approximately $34,000. Prospera Private Wealth LLC bought a new position in shares of The Cigna Group in the third quarter valued at $37,000. Finally, Compagnie Lombard Odier SCmA bought a new position in shares of The Cigna Group in the fourth quarter valued at $37,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CI. Piper Sandler reaffirmed an “overweight” rating and set a $348.00 price objective (down from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Barclays decreased their target price on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Wells Fargo & Company reduced their price target on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Sanford C. Bernstein cut The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 target price on the stock. in a report on Thursday, February 6th. Finally, Morgan Stanley lowered 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. Two equities research 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $372.31.

Insider Activity

In related news, CEO David Cordani sold 26,527 shares of The Cigna Group stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the transaction, the chief executive officer now owns 127,767 shares in the company, valued at approximately $39,367,568.04. This trade represents a 17.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Noelle K. Eder sold 9,944 shares of the firm’s 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 sale, the insider now directly owns 13,406 shares of the company’s stock, valued at approximately $4,289,920. This trade represents a 42.59 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,751 shares of company stock valued at $13,603,991. Company insiders own 0.60% of the company’s stock.

The Cigna Group Stock Up 1.7 %

NYSE CI opened at $322.15 on Wednesday. The stock’s 50-day moving average price is $298.39 and its 200-day moving average price is $315.64. The company has a market capitalization of $88.17 billion, a P/E ratio of 26.32, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70.

The Cigna Group (NYSE:CI) last announced 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 return on equity of 18.61% and a net margin of 1.39%. During the same period in the previous year, the firm posted $6.79 earnings per share. On average, equities research analysts predict that The Cigna Group will post 29.77 earnings per share 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. Stockholders 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 dividend yield of 1.87%. The Cigna Group’s dividend payout ratio is currently 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.