Charles Schwab Investment Management Inc. Purchases 53,414 Shares of The Cigna Group (NYSE:CI)

Charles Schwab Investment Management Inc. increased its position in shares of The Cigna Group (NYSE:CI) by 2.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,978,465 shares of the health services provider’s stock after buying an additional 53,414 shares during the period. Charles Schwab Investment Management Inc.’s holdings in The Cigna Group were worth $592,451,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Roman Butler Fullerton & Co. boosted its position in shares of The Cigna Group by 61.4% during the 4th quarter. Roman Butler Fullerton & Co. now owns 9,307 shares of the health services provider’s stock worth $2,772,000 after purchasing an additional 3,539 shares in the last quarter. Ellsworth Advisors LLC acquired a new stake in The Cigna Group in the fourth quarter valued at approximately $4,377,000. Sapient Capital LLC acquired a new position in shares of The Cigna Group during the fourth quarter worth approximately $2,811,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of The Cigna Group by 29.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 293,438 shares of the health services provider’s stock worth $87,870,000 after purchasing an additional 66,891 shares in the last quarter. Finally, Accurate Wealth Management LLC bought a new stake in The Cigna Group during the 4th quarter valued at $2,244,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Mizuho lifted their price objective on shares of The Cigna Group from $360.00 to $370.00 and gave the company a “buy” rating in a report on Monday, February 5th. Barclays initiated coverage on The Cigna Group in a report on Wednesday, March 6th. They set an “overweight” rating and a $393.00 price objective for the company. Cantor Fitzgerald raised their target price on The Cigna Group from $384.00 to $400.00 and gave the company an “overweight” rating in a report on Friday. 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 report on Monday, February 5th. Finally, Wells Fargo & Company raised their price objective on The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 6th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued 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 $366.14.

Insider Buying and Selling at The Cigna Group

In related news, CEO David Cordani sold 38,065 shares of The Cigna Group stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $335.22, for a total value of $12,760,149.30. Following the completion of the transaction, the chief executive officer now directly owns 329,321 shares in the company, valued at approximately $110,394,985.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total value 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 $694,668.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David Cordani sold 38,065 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $335.22, for a total transaction of $12,760,149.30. Following the transaction, the chief executive officer now directly owns 329,321 shares of the company’s stock, valued at approximately $110,394,985.62. The disclosure for this sale can be found here. Insiders have sold a total of 114,144 shares of company stock valued at $39,296,330 over the last three months. 0.70% of the stock is currently owned by insiders.

The Cigna Group Stock Performance

CI stock traded up $4.29 during mid-day trading on Tuesday, hitting $346.70. The company had a trading volume of 1,548,683 shares, compared to its average volume of 1,590,111. The Cigna Group has a 12 month low of $240.50 and a 12 month high of $365.71. The stock’s fifty day moving average price is $350.89 and its two-hundred day moving average price is $320.21. The firm has a market cap of $98.49 billion, a PE ratio of 28.46, a price-to-earnings-growth ratio of 1.04 and a beta of 0.57. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.71 and a current ratio of 0.71.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, beating the consensus estimate of $6.17 by $0.30. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The business had revenue of $57.25 billion for the quarter, compared to the consensus estimate of $56.59 billion. During the same quarter in the prior year, the business earned $5.41 earnings per share. The Cigna Group’s revenue for the quarter was up 23.2% on a year-over-year basis. On average, analysts forecast that The Cigna Group will post 28.45 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Tuesday, June 4th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date is Tuesday, June 4th. The Cigna Group’s dividend payout ratio is currently 45.98%.

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.