BNP PARIBAS ASSET MANAGEMENT Holding S.A. Acquires 3,519 Shares of The Cigna Group (NYSE:CI)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of The Cigna Group (NYSE:CI) by 2.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 174,403 shares of the health services provider’s stock after buying an additional 3,519 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned 0.06% of The Cigna Group worth $57,652,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Crossmark Global Holdings Inc. grew its stake in shares of The Cigna Group by 1.1% in the second quarter. Crossmark Global Holdings Inc. now owns 119,650 shares of the health services provider’s stock worth $39,553,000 after purchasing an additional 1,263 shares during the last quarter. Crewe Advisors LLC increased its stake in shares of The Cigna Group by 225.5% in the second quarter. Crewe Advisors LLC now owns 905 shares of the health services provider’s stock valued at $299,000 after buying an additional 627 shares during the period. Center For Asset Management LLC increased its stake in shares of The Cigna Group by 4.0% in the second quarter. Center For Asset Management LLC now owns 1,873 shares of the health services provider’s stock valued at $619,000 after buying an additional 72 shares during the period. Panagora Asset Management Inc. raised its position in shares of The Cigna Group by 172.4% during the second quarter. Panagora Asset Management Inc. now owns 407,252 shares of the health services provider’s stock worth $134,625,000 after acquiring an additional 257,758 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of The Cigna Group by 3.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 173,656 shares of the health services provider’s stock worth $57,405,000 after acquiring an additional 5,968 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 analysts have weighed in on CI shares. Piper Sandler began coverage on shares of The Cigna Group in a research report on Wednesday, June 26th. They set an “overweight” rating and a $400.00 target price for the company. Baird R W upgraded shares of The Cigna Group to a “strong-buy” rating in a report on Thursday, May 30th. Robert W. Baird began coverage on The Cigna Group in a report on Thursday, May 30th. They set an “outperform” rating and a $388.00 price target for the company. Stephens reissued an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a research report on Friday, August 2nd. Finally, Barclays raised their target price on The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, The Cigna Group presently has an average rating of “Buy” and an average price target of $384.86.

The Cigna Group Stock Up 0.2 %

CI opened at $361.75 on Friday. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $365.71. The firm has a market capitalization of $102.76 billion, a P/E ratio of 29.70, a PEG ratio of 1.02 and a beta of 0.52. The company’s 50-day moving average is $337.80 and its 200 day moving average is $342.69. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.71 and a quick ratio of 0.71.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, topping analysts’ consensus estimates of $6.42 by $0.30. The firm had revenue of $60.52 billion for the quarter, compared to the consensus estimate of $58.30 billion. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The company’s revenue was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.13 EPS. Research analysts expect that The Cigna Group will post 28.4 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Wednesday, September 4th will be given a dividend of $1.40 per share. The ex-dividend date is Wednesday, September 4th. This represents a $5.60 annualized dividend and a yield of 1.55%. The Cigna Group’s payout ratio is currently 45.98%.

Insider Buying and Selling

In other The Cigna Group news, insider Brian C. Evanko sold 4,795 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the completion of the transaction, the insider now directly owns 39,923 shares of the company’s stock, valued at $13,773,834.23. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Brian C. Evanko sold 4,795 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $345.01, for a total value of $1,654,322.95. Following the sale, the insider now owns 39,923 shares of the company’s stock, valued at $13,773,834.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $342.68, for a total transaction of $922,151.88. Following the completion of the transaction, the director now owns 17,539 shares of the company’s stock, valued at $6,010,264.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,033 shares of company stock worth $3,095,820. Insiders own 0.60% of the company’s stock.

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.