ExodusPoint Capital Management LP Acquires 11,641 Shares of The Cigna Group (NYSE:CI)

ExodusPoint Capital Management LP boosted its holdings in shares of The Cigna Group (NYSE:CI) by 106.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,616 shares of the health services provider’s stock after buying an additional 11,641 shares during the quarter. ExodusPoint Capital Management LP’s holdings in The Cigna Group were worth $6,245,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA lifted its position in shares of The Cigna Group by 4.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 11,556,278 shares of the health services provider’s stock valued at $3,191,151,000 after buying an additional 501,320 shares in the last quarter. Geode Capital Management LLC raised its stake in The Cigna Group by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 5,957,180 shares of the health services provider’s stock worth $1,640,878,000 after acquiring an additional 101,737 shares during the period. GQG Partners LLC lifted its holdings in The Cigna Group by 22.4% during the fourth quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider’s stock valued at $1,110,520,000 after purchasing an additional 737,099 shares in the last quarter. Norges Bank bought a new position in shares of The Cigna Group in the fourth quarter worth approximately $867,785,000. Finally, Franklin Resources Inc. increased its stake in shares of The Cigna Group by 10.8% in the fourth quarter. Franklin Resources Inc. now owns 2,927,223 shares of the health services provider’s stock worth $808,323,000 after purchasing an additional 286,515 shares in the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Trading Down 4.9 %

Shares of NYSE CI opened at $322.02 on Friday. The stock has a market capitalization of $88.13 billion, a P/E ratio of 26.31, a PEG ratio of 0.98 and a beta of 0.50. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The business’s 50 day moving average is $308.72 and its two-hundred day moving average is $312.70. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72.

The Cigna Group (NYSE:CI) last released its quarterly earnings results 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 net margin of 1.39% and a return on equity of 18.61%. During the same period in the previous year, the business posted $6.79 EPS. As a group, research analysts expect that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were paid a dividend of $1.51 per share. The ex-dividend date was Wednesday, March 5th. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.88%. The Cigna Group’s payout ratio is currently 49.35%.

Insider Activity at The Cigna Group

In other news, CEO David Cordani sold 26,527 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 127,767 shares in the company, valued at approximately $39,367,568.04. This represents a 17.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Nicole S. Jones sold 4,904 shares of The Cigna Group stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the sale, the insider now owns 29,421 shares of the company’s stock, valued at $9,065,198.52. The trade was a 14.29 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,751 shares of company stock worth $13,603,991. Insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CI shares. Cantor Fitzgerald lifted their target price on shares of The Cigna Group from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. Piper Sandler reaffirmed an “overweight” rating and issued a $348.00 price objective (down previously from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Sanford C. Bernstein downgraded The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 target price on the stock. in a research note on Thursday, February 6th. Oppenheimer dropped their price target 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. Finally, StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 29th. Two equities research 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 stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $373.25.

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.