PARUS FINANCE UK Ltd Has $3.74 Million Position in The Cigna Group (NYSE:CI)

PARUS FINANCE UK Ltd decreased its position in shares of The Cigna Group (NYSE:CI) by 0.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,540 shares of the health services provider’s stock after selling 60 shares during the quarter. The Cigna Group makes up approximately 1.2% of PARUS FINANCE UK Ltd’s holdings, making the stock its 20th largest holding. PARUS FINANCE UK Ltd’s holdings in The Cigna Group were worth $3,739,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of CI. Allianz SE bought a new position in The Cigna Group in the fourth quarter valued at about $6,902,000. Allstate Corp bought a new stake in The Cigna Group in the fourth quarter valued at about $2,293,000. Maridea Wealth Management LLC acquired a new stake in shares of The Cigna Group in the 4th quarter valued at approximately $343,000. DnB Asset Management AS boosted its stake in The Cigna Group by 6.7% during the 4th quarter. DnB Asset Management AS now owns 130,201 shares of the health services provider’s stock worth $35,954,000 after acquiring an additional 8,139 shares during the last quarter. Finally, Level Four Advisory Services LLC grew its holdings in The Cigna Group by 12.1% during the fourth quarter. Level Four Advisory Services LLC now owns 1,941 shares of the health services provider’s stock valued at $536,000 after purchasing an additional 210 shares during the period. 86.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Barclays reduced their price target on shares of 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. Oppenheimer decreased their target price on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a research note on Friday, January 31st. Stephens dropped their price target 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. Wells Fargo & Company reduced their price target on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Finally, Piper Sandler restated an “overweight” rating and set a $348.00 price objective (down from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $373.25.

The Cigna Group Stock Performance

NYSE:CI opened at $324.97 on Friday. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The stock has a market cap of $88.94 billion, a P/E ratio of 26.55, a PEG ratio of 0.98 and a beta of 0.53. The stock has a 50 day simple moving average of $304.67 and a 200 day simple moving average of $314.08.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share 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 quarter last year, the firm posted $6.79 earnings per share. Research analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date was Wednesday, March 5th. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio (DPR) is 49.35%.

Insider Buying and Selling 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 dated 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Elder Granger sold 2,376 shares of the business’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $310.35, for a total transaction of $737,391.60. Following the sale, the director now directly owns 5,471 shares in the company, valued at approximately $1,697,924.85. The trade was a 30.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,751 shares of company stock valued at $13,603,991 in the last three months. Corporate insiders own 0.70% of the company’s stock.

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.