Intact Investment Management Inc. Has $359,000 Stock Holdings in The Cigna Group (NYSE:CI)

Intact Investment Management Inc. increased its holdings in shares of The Cigna Group (NYSE:CI) by 550.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,300 shares of the health services provider’s stock after purchasing an additional 1,100 shares during the period. Intact Investment Management Inc.’s holdings in The Cigna Group were worth $359,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Prospera Private Wealth LLC acquired a new position in shares of The Cigna Group during the 3rd quarter worth about $37,000. Collier Financial bought a new position in The Cigna Group during the fourth quarter valued at about $32,000. ORG Wealth Partners LLC bought a new position in The Cigna Group during the fourth quarter valued at about $34,000. Compagnie Lombard Odier SCmA bought a new position in The Cigna Group during the fourth quarter valued at about $37,000. Finally, Heck Capital Advisors LLC bought a new position in The Cigna Group during the fourth quarter valued at about $53,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CI shares. Royal Bank of Canada set a $355.00 price target on The Cigna Group in a research note on Friday, January 31st. Sanford C. Bernstein lowered The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price target on the stock. in a research note on Thursday, February 6th. UBS Group lowered their price objective on The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Morgan Stanley lowered their price objective on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Finally, Wells Fargo & Company lowered their price objective on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, The Cigna Group has a consensus rating of “Buy” and an average price target of $372.31.

Insiders Place Their Bets

In other news, CEO David Cordani sold 26,527 shares of the 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 of the company’s stock, valued at $39,367,568.04. This represents a 17.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Nicole S. Jones sold 4,904 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $1,511,020.48. Following the completion of the transaction, the insider now directly owns 29,421 shares in the company, valued at approximately $9,065,198.52. This trade represents a 14.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,375 shares of company stock valued at $12,866,600. 0.60% of the stock is currently owned by corporate insiders.

The Cigna Group Stock Up 0.4 %

NYSE CI opened at $313.35 on Friday. The firm has a market cap of $85.76 billion, a PE ratio of 25.60, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53. The Cigna Group has a one year low of $262.03 and a one year high of $370.83. The stock’s 50 day simple moving average is $296.79 and its 200 day simple moving average is $316.52. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing the consensus estimate 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 last year, the company posted $6.79 EPS. As a group, sell-side analysts forecast that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $1.51 per share. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date is Wednesday, March 5th. This represents a $6.04 annualized dividend and a yield of 1.93%. The Cigna Group’s dividend payout ratio is currently 49.35%.

The Cigna Group Company 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.