KLP Kapitalforvaltning AS Takes Position in The Cigna Group (NYSE:CI)

KLP Kapitalforvaltning AS bought a new stake in The Cigna Group (NYSE:CI) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 186,823 shares of the health services provider’s stock, valued at approximately $51,589,000. KLP Kapitalforvaltning AS owned approximately 0.07% of The Cigna Group as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC boosted its holdings in The Cigna Group by 2.0% during the third quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock worth $4,929,978,000 after buying an additional 279,880 shares in the last quarter. Geode Capital Management LLC raised its position in shares of The Cigna Group by 0.4% in the third quarter. Geode Capital Management LLC now owns 5,855,443 shares of the health services provider’s stock valued at $2,021,563,000 after buying an additional 22,408 shares during the last quarter. Amundi raised its position in shares of The Cigna Group by 19.9% in the fourth quarter. Amundi now owns 2,254,050 shares of the health services provider’s stock valued at $628,579,000 after buying an additional 374,865 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in The Cigna Group by 2.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,168,959 shares of the health services provider’s stock worth $751,414,000 after purchasing an additional 44,810 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in The Cigna Group by 3.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,977,758 shares of the health services provider’s stock worth $546,138,000 after purchasing an additional 64,138 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Down 1.4 %

CI stock opened at $316.78 on Friday. 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 has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The firm’s 50-day simple moving average is $300.83 and its 200 day simple moving average is $315.40. The stock has a market cap of $86.70 billion, a PE ratio of 25.88, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53.

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 the consensus estimate 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 quarter last year, the firm posted $6.79 EPS. As a group, sell-side analysts predict that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were paid a $1.51 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $6.04 annualized dividend and a dividend yield of 1.91%. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s payout ratio is currently 49.35%.

Insider Transactions at The Cigna Group

In other The Cigna Group news, CEO David Cordani sold 26,527 shares of The Cigna Group stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $8,173,499.24. Following the completion of the sale, the chief executive officer now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Elder Granger sold 2,376 shares of The Cigna Group stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $310.35, for a total transaction of $737,391.60. Following the completion of the sale, the director now owns 5,471 shares of the company’s stock, valued at $1,697,924.85. This trade represents a 30.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,751 shares of company stock valued at $13,603,991 in the last quarter. Insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CI shares. Cantor Fitzgerald upped their price target on shares of The Cigna Group from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Thursday. Stephens decreased their price objective on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Raymond James reiterated a “strong-buy” rating and set a $360.00 price objective (down from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Sanford C. Bernstein downgraded shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective for the company. in a research note on Thursday, February 6th. Finally, Royal Bank of Canada set a $355.00 target price on shares of The Cigna Group in a research note on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $373.25.

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.