BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $14.78 Million Holdings in The Cigna Group (NYSE:CI)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in The Cigna Group (NYSE:CI) by 12.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,530 shares of the health services provider’s stock after buying an additional 6,127 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in The Cigna Group were worth $14,782,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CI. TCTC Holdings LLC bought a new stake in The Cigna Group in the 4th quarter valued at $25,000. Collier Financial acquired a new position in shares of The Cigna Group in the fourth quarter valued at $32,000. Compagnie Lombard Odier SCmA bought a new position in shares of The Cigna Group in the fourth quarter valued at about $37,000. Transce3nd LLC acquired a new stake in shares of The Cigna Group during the 4th quarter worth about $38,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of The Cigna Group during the 4th quarter worth about $53,000. 86.99% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other The Cigna Group news, Director Elder Granger sold 2,376 shares of The Cigna Group stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $310.35, for a total value of $737,391.60. Following the transaction, the director now owns 5,471 shares in the company, valued at $1,697,924.85. The trade was a 30.28% 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, CEO David Cordani sold 26,527 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 127,767 shares of the company’s stock, valued at $39,367,568.04. This trade represents a 17.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,751 shares of company stock worth $13,603,991 over the last three months. Insiders own 0.70% of the company’s stock.

The Cigna Group Trading Down 2.4%

CI opened at $317.16 on Thursday. The stock has a market capitalization of $84.73 billion, a price-to-earnings ratio of 25.91, a P/E/G ratio of 0.98 and a beta of 0.47. 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 twelve month low of $262.03 and a twelve month high of $370.83. The company has a 50-day simple moving average of $325.56 and a 200 day simple moving average of $310.07.

The Cigna Group (NYSE:CI) last issued its earnings results on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, beating the consensus estimate of $6.35 by $0.39. The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. The company had revenue of $65.45 billion during the quarter, compared to analysts’ expectations of $60.39 billion. During the same period in the previous year, the company earned $6.47 EPS. The business’s revenue for the quarter was up 14.4% compared to the same quarter last year. Analysts predict that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be given a dividend of $1.51 per share. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $6.04 annualized dividend and a yield of 1.90%. The Cigna Group’s dividend payout ratio is currently 33.44%.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Barclays upped their price target on shares of The Cigna Group from $339.00 to $382.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. Mizuho upped their target price on The Cigna Group from $360.00 to $384.00 and gave the company an “outperform” rating in a research report on Wednesday, April 9th. Raymond James reissued a “strong-buy” rating and set a $360.00 price target (down from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Guggenheim reaffirmed a “buy” rating and issued a $388.00 price objective (up from $384.00) on shares of The Cigna Group in a report on Monday, May 5th. 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 report on Tuesday, February 4th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $379.33.

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.