UniSuper Management Pty Ltd Has $5.29 Million Stock Holdings in The Cigna Group (NYSE:CI)

UniSuper Management Pty Ltd trimmed its holdings in shares of The Cigna Group (NYSE:CI) by 32.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,145 shares of the health services provider’s stock after selling 9,074 shares during the quarter. UniSuper Management Pty Ltd’s holdings in The Cigna Group were worth $5,287,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. TCTC Holdings LLC acquired a new position in shares of The Cigna Group during the fourth quarter worth about $25,000. Collier Financial bought a new stake in The Cigna Group during the 4th quarter worth about $32,000. ORG Wealth Partners LLC acquired a new position in shares of The Cigna Group during the 4th quarter worth about $34,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of The Cigna Group in the fourth quarter valued at about $37,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of The Cigna Group in the fourth quarter valued at about $53,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Oppenheimer lowered their price target on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a research report on Friday, January 31st. Stephens dropped their price target on shares of 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. Barclays lowered their price objective on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Piper Sandler reiterated an “overweight” rating and issued a $348.00 target price (down from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Finally, Raymond James reissued a “strong-buy” rating and set a $360.00 price target (down previously from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus 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 firm has a 50-day moving average price of $304.67 and a two-hundred day moving average price of $314.08. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The company has a market capitalization of $88.94 billion, a P/E ratio of 26.55, a P/E/G ratio of 0.98 and a beta of 0.53. 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 (NYSE:CI) last issued its quarterly earnings results 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 net margin of 1.39% and a return on equity of 18.61%. During the same period in the prior year, the firm earned $6.79 earnings per share. 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 declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were paid a $1.51 dividend. 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 an increase from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s payout ratio is 49.35%.

Insiders Place Their Bets

In related news, Director Elder Granger sold 2,376 shares of the 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 sale, the director now owns 5,471 shares in the company, valued at approximately $1,697,924.85. This trade represents a 30.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Noelle K. Eder sold 9,944 shares of The Cigna Group stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the completion of the transaction, the insider now directly owns 13,406 shares in the company, valued at $4,289,920. This trade represents a 42.59 % 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 worth $13,603,991 over the last ninety days. 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.