Harvest Fund Management Co. Ltd Has $117,000 Position in The Cigna Group (NYSE:CI)

Harvest Fund Management Co. Ltd raised its holdings in shares of The Cigna Group (NYSE:CI) by 36.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 391 shares of the health services provider’s stock after acquiring an additional 105 shares during the period. Harvest Fund Management Co. Ltd’s holdings in The Cigna Group were worth $117,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. FMR LLC lifted its stake in The Cigna Group by 13.8% in the third quarter. FMR LLC now owns 15,967,363 shares of the health services provider’s stock valued at $4,567,783,000 after buying an additional 1,939,554 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in The Cigna Group by 3.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,833,753 shares of the health services provider’s stock valued at $3,385,282,000 after acquiring an additional 345,605 shares in the last quarter. Morgan Stanley boosted its stake in The Cigna Group by 4.7% in the 3rd quarter. Morgan Stanley now owns 4,973,106 shares of the health services provider’s stock worth $1,422,657,000 after purchasing an additional 225,115 shares during the period. Northern Trust Corp increased its holdings in The Cigna Group by 5.9% during the 3rd quarter. Northern Trust Corp now owns 3,244,157 shares of the health services provider’s stock worth $928,056,000 after purchasing an additional 181,385 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of The Cigna Group by 2.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,570,994 shares of the health services provider’s stock valued at $735,484,000 after purchasing an additional 72,714 shares during the period. 86.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CI. Barclays started coverage on shares of The Cigna Group in a research report on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 price objective on the stock. Mizuho upped their target price on The Cigna Group from $360.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, February 5th. Morgan Stanley restated an “overweight” rating and issued a $392.00 price target (up from $382.00) on shares of The Cigna Group in a research note on Monday, March 4th. Royal Bank of Canada raised shares of The Cigna Group from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $327.00 to $354.00 in a research note on Monday, February 5th. Finally, StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 14th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $362.14.

Insiders Place Their Bets

In other The Cigna Group news, CEO David Cordani sold 38,065 shares of The Cigna Group stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $335.22, for a total value of $12,760,149.30. Following the completion of the sale, the chief executive officer now directly owns 329,321 shares in the company, valued at $110,394,985.62. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total value of $1,608,446.16. Following the transaction, the senior vice president now owns 2,102 shares in the company, valued at $694,668.96. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO David Cordani sold 38,065 shares of the firm’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 value of $12,760,149.30. Following the completion of the sale, 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. In the last ninety days, insiders sold 114,144 shares of company stock worth $39,296,330. Company insiders own 0.60% of the company’s stock.

The Cigna Group Stock Performance

NYSE:CI opened at $354.50 on Friday. The firm has a market capitalization of $103.64 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 1.08 and a beta of 0.56. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The Cigna Group has a twelve month low of $240.50 and a twelve month high of $365.71. The stock’s 50-day simple moving average is $349.61 and its 200 day simple moving average is $317.35.

The Cigna Group (NYSE:CI) last posted its earnings results on Friday, February 2nd. The health services provider reported $6.79 EPS for the quarter, topping the consensus estimate of $6.54 by $0.25. The Cigna Group had a net margin of 2.64% and a return on equity of 13.59%. The business had revenue of $51.15 billion for the quarter, compared to the consensus estimate of $48.91 billion. During the same period last year, the company earned $4.96 EPS. The firm’s revenue was up 11.8% compared to the same quarter last year. On average, analysts anticipate that The Cigna Group will post 28.36 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Tuesday, June 4th will be issued a $1.40 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $5.60 annualized dividend and a yield of 1.58%. The Cigna Group’s payout ratio is 32.20%.

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.