Magnetar Financial LLC Has $40.14 Million Stake in The Cigna Group (NYSE:CI)

Magnetar Financial LLC decreased its holdings in shares of The Cigna Group (NYSE:CI) by 41.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 145,366 shares of the health services provider’s stock after selling 102,988 shares during the quarter. Magnetar Financial LLC owned about 0.05% of The Cigna Group worth $40,141,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Teacher Retirement System of Texas grew its holdings in The Cigna Group by 42.6% during the fourth quarter. Teacher Retirement System of Texas now owns 155,253 shares of the health services provider’s stock valued at $42,872,000 after purchasing an additional 46,354 shares during the period. Generali Investments Management Co LLC acquired a new position in The Cigna Group during the fourth quarter valued at approximately $635,000. Vinva Investment Management Ltd grew its holdings in The Cigna Group by 19.0% during the fourth quarter. Vinva Investment Management Ltd now owns 13,974 shares of the health services provider’s stock valued at $3,845,000 after purchasing an additional 2,228 shares during the period. Platinum Investment Management Ltd. boosted its holdings in shares of The Cigna Group by 15.8% in the fourth quarter. Platinum Investment Management Ltd. now owns 316 shares of the health services provider’s stock valued at $87,000 after buying an additional 43 shares during the period. Finally, Xponance Inc. boosted its holdings in shares of The Cigna Group by 1.4% in the fourth quarter. Xponance Inc. now owns 44,583 shares of the health services provider’s stock valued at $12,311,000 after buying an additional 612 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Price Performance

NYSE:CI opened at $320.74 on Thursday. The Cigna Group has a one year low of $262.03 and a one year high of $370.83. The company has a market cap 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 firm’s fifty day moving average price is $299.23 and its two-hundred day moving average price is $315.68. 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 data on Thursday, January 30th. The health services provider reported $6.64 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 quarter last year, the company earned $6.79 earnings per share. Equities analysts expect that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be paid a $1.51 dividend. 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 annualized dividend and a dividend yield of 1.88%. The Cigna Group’s dividend payout ratio is 49.35%.

Insider Activity at The Cigna Group

In other The Cigna Group news, CEO David Cordani sold 26,527 shares of the firm’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 of the company’s stock, valued at $39,367,568.04. This trade represents a 17.19 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Elder Granger sold 2,376 shares of the firm’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $310.35, for a total transaction of $737,391.60. Following the completion of the transaction, the director now directly owns 5,471 shares in the company, valued at approximately $1,697,924.85. This represents a 30.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,751 shares of company stock worth $13,603,991. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Truist Financial reduced their price target on shares of The Cigna Group from $390.00 to $375.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. Wells Fargo & Company reduced their price target on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Cantor Fitzgerald reduced their price target on shares of The Cigna Group from $400.00 to $350.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Barclays reduced their price target on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Finally, Raymond James reissued a “strong-buy” rating and issued a $360.00 price objective (down previously from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, The Cigna Group currently has a consensus rating of “Buy” and an average target price of $372.31.

About The Cigna Group

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.