The Cigna Group (NYSE:CI) Shares Purchased by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC grew its stake in shares of The Cigna Group (NYSE:CI) by 4.3% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 100,765 shares of the health services provider’s stock after purchasing an additional 4,125 shares during the quarter. Commonwealth Equity Services LLC’s holdings in The Cigna Group were worth $33,310,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in The Cigna Group by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 26,793,138 shares of the health services provider’s stock worth $9,731,000,000 after buying an additional 2,017,333 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in The Cigna Group by 6.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,341,233 shares of the health services provider’s stock worth $5,208,593,000 after buying an additional 867,180 shares during the period. Sanders Capital LLC increased its holdings in The Cigna Group by 1.3% in the 4th quarter. Sanders Capital LLC now owns 7,727,729 shares of the health services provider’s stock worth $2,314,068,000 after buying an additional 97,277 shares during the period. Norges Bank acquired a new position in The Cigna Group in the 4th quarter worth approximately $1,006,348,000. Finally, Parnassus Investments LLC increased its holdings in The Cigna Group by 5.0% in the 4th quarter. Parnassus Investments LLC now owns 2,682,061 shares of the health services provider’s stock worth $803,143,000 after buying an additional 126,598 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, Director Elder Granger sold 547 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $331.38, for a total value of $181,264.86. Following the transaction, the director now owns 5,471 shares in the company, valued at approximately $1,812,979.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other The Cigna Group news, insider Brian C. Evanko sold 4,795 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $345.01, for a total value of $1,654,322.95. Following the completion of the sale, the insider now directly owns 39,923 shares of the company’s stock, valued at approximately $13,773,834.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Elder Granger sold 547 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $331.38, for a total value of $181,264.86. Following the completion of the sale, the director now directly owns 5,471 shares of the company’s stock, valued at $1,812,979.98. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,033 shares of company stock worth $3,095,820. Corporate insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

CI has been the topic of several research reports. Baird R W upgraded shares of The Cigna Group to a “strong-buy” rating in a report on Thursday, May 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a research note on Monday, August 19th. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. raised their price objective on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Finally, Robert W. Baird initiated coverage on shares of The Cigna Group in a research note on Thursday, May 30th. They set an “outperform” rating and a $388.00 price objective on the stock. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, The Cigna Group has an average rating of “Buy” and a consensus target price of $384.86.

The Cigna Group Trading Up 0.2 %

Shares of NYSE:CI opened at $361.81 on Monday. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $365.71. The firm has a market capitalization of $101.14 billion, a price-to-earnings ratio of 29.71, a price-to-earnings-growth ratio of 1.10 and a beta of 0.52. 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 business’s 50 day moving average price is $338.24 and its 200-day moving average price is $342.93.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.42 by $0.30. The firm had revenue of $60.52 billion for the quarter, compared to analyst estimates of $58.30 billion. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The business’s revenue was up 24.6% on a year-over-year basis. During the same quarter last year, the firm posted $6.13 EPS. On average, equities research analysts forecast that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Wednesday, September 4th will be issued a $1.40 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.55%. The Cigna Group’s payout ratio is currently 45.98%.

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.