Vinva Investment Management Ltd Boosts Stake in The Cigna Group (NYSE:CI)

Vinva Investment Management Ltd lifted its holdings in The Cigna Group (NYSE:CI) by 19.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,974 shares of the health services provider’s stock after purchasing an additional 2,228 shares during the quarter. Vinva Investment Management Ltd’s holdings in The Cigna Group were worth $3,845,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. TCTC Holdings LLC purchased a new stake in The Cigna Group during the fourth quarter valued at $25,000. Collier Financial purchased a new stake in The Cigna Group during the fourth quarter valued at $32,000. ORG Wealth Partners LLC purchased a new stake in The Cigna Group during the fourth quarter valued at $34,000. Prospera Private Wealth LLC purchased a new stake in The Cigna Group during the third quarter valued at $37,000. Finally, Compagnie Lombard Odier SCmA purchased a new stake in The Cigna Group during the fourth quarter valued at $37,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, insider Noelle K. Eder sold 9,944 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the sale, the insider now directly owns 13,406 shares in the company, valued at $4,289,920. This represents a 42.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Elder Granger sold 2,376 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $310.35, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,751 shares of company stock worth $13,603,991 over the last ninety days. Company insiders own 0.60% of the company’s stock.

The Cigna Group Price Performance

NYSE:CI opened at $320.74 on Thursday. 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 company has a market capitalization of $87.78 billion, a P/E ratio of 26.20, a P/E/G ratio of 0.98 and a beta of 0.53. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The business’s 50-day moving average is $299.23 and its 200 day moving average is $315.68.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the company earned $6.79 earnings per share. On average, equities research analysts forecast that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be given a dividend of $1.51 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a yield of 1.88%. The Cigna Group’s dividend payout ratio is 49.35%.

Analyst Ratings Changes

Several research firms have issued reports on CI. UBS Group cut their price target on The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Royal Bank of Canada set a $355.00 price target on The Cigna Group in a report on Friday, January 31st. 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 report on Friday, January 31st. Stephens cut their price target on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Finally, Morgan Stanley cut their price target on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $372.31.

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.