Livforsakringsbolaget Skandia Omsesidigt Raises Stock Holdings in The Cigna Group (NYSE:CI)

Livforsakringsbolaget Skandia Omsesidigt increased its position in The Cigna Group (NYSE:CI) by 2.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,767 shares of the health services provider’s stock after buying an additional 612 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in The Cigna Group were worth $7,117,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in CI. Bogart Wealth LLC boosted its stake in The Cigna Group by 104.5% in the 3rd quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock worth $26,000 after purchasing an additional 46 shares in the last quarter. OFI Invest Asset Management bought a new position in The Cigna Group in the 3rd quarter worth about $26,000. Fairfield Bush & CO. bought a new position in The Cigna Group in the 2nd quarter worth about $28,000. Fortitude Family Office LLC bought a new position in The Cigna Group in the 4th quarter worth about $29,000. Finally, Optimum Investment Advisors increased its holdings in The Cigna Group by 110.0% in the 3rd quarter. Optimum Investment Advisors now owns 105 shares of the health services provider’s stock worth $30,000 after acquiring an additional 55 shares in the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the completion of the transaction, the senior vice president now directly owns 2,102 shares in the company, valued at approximately $694,668.96. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Eric P. Palmer sold 1,017 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $335.26, for a total transaction of $340,959.42. Following the completion of the transaction, the insider now directly owns 45,564 shares in the company, valued at approximately $15,275,786.64. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total value of $1,608,446.16. Following the transaction, the senior vice president now owns 2,102 shares of the company’s stock, valued at $694,668.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 114,144 shares of company stock valued at $39,296,330. Insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CI shares. Royal Bank of Canada upgraded The Cigna Group from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $327.00 to $354.00 in a research note on Monday, February 5th. Wells Fargo & Company lifted their price target on The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. Cantor Fitzgerald restated an “overweight” rating and issued a $384.00 price objective on shares of The Cigna Group in a research report on Wednesday, April 10th. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 14th. Finally, Sanford C. Bernstein raised The Cigna Group from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $330.00 to $372.00 in a research note on Thursday, January 4th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $362.14.

The Cigna Group Trading Down 0.3 %

NYSE CI traded down $0.99 on Wednesday, reaching $345.86. 1,426,502 shares of the company were exchanged, compared to its average volume of 1,605,991. The business’s fifty day moving average price is $347.42 and its 200 day moving average price is $314.57. The stock has a market capitalization of $101.12 billion, a P/E ratio of 19.94, a price-to-earnings-growth ratio of 1.07 and a beta of 0.56. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.61. The Cigna Group has a fifty-two week low of $240.50 and a fifty-two week high of $365.71.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Friday, February 2nd. The health services provider reported $6.79 earnings per share for the quarter, topping analysts’ consensus estimates of $6.54 by $0.25. The company had revenue of $51.15 billion for the quarter, compared to analyst estimates of $48.91 billion. The Cigna Group had a return on equity of 13.59% and a net margin of 2.64%. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.96 earnings per share. Analysts forecast that The Cigna Group will post 28.36 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 21st. Shareholders of record on Wednesday, March 6th were paid a dividend of $1.40 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $5.60 dividend on an annualized basis and a yield of 1.62%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.23. The Cigna Group’s payout ratio is 32.20%.

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.