AGF Management Ltd. Acquires 319 Shares of The Cigna Group (NYSE:CI)

AGF Management Ltd. grew its holdings in The Cigna Group (NYSE:CI) by 3.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 8,543 shares of the health services provider’s stock after purchasing an additional 319 shares during the period. AGF Management Ltd.’s holdings in The Cigna Group were worth $2,824,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Silicon Valley Capital Partners grew its position in The Cigna Group by 100.0% in the first quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock valued at $25,000 after acquiring an additional 35 shares during the last quarter. Cedar Wealth Management LLC bought a new stake in shares of The Cigna Group during the 1st quarter valued at approximately $29,000. Raleigh Capital Management Inc. increased its position in The Cigna Group by 69.5% during the 4th quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock worth $30,000 after purchasing an additional 41 shares in the last quarter. TruNorth Capital Management LLC bought a new position in The Cigna Group in the 2nd quarter valued at approximately $33,000. Finally, Pineridge Advisors LLC acquired a new stake in The Cigna Group in the fourth quarter valued at approximately $37,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CI. StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Robert W. Baird assumed coverage on The Cigna Group in a research report on Thursday, May 30th. They issued an “outperform” rating and a $388.00 target price for the company. JPMorgan Chase & Co. lifted their price target on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Piper Sandler initiated coverage on The Cigna Group in a research note on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 price objective for the company. Finally, Barclays lifted their target price on shares of The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $387.00.

The Cigna Group Price Performance

Shares of NYSE CI opened at $362.19 on Friday. The company has a market capitalization of $102.89 billion, a PE ratio of 29.74, a P/E/G ratio of 1.08 and a beta of 0.50. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.73. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $370.64. The firm has a fifty day simple moving average of $343.27 and a 200 day simple moving average of $344.04.

The Cigna Group (NYSE:CI) last issued its quarterly 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 during 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 business’s revenue was up 24.6% compared to the same quarter last year. During the same period last year, the business posted $6.13 EPS. On average, sell-side analysts forecast that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Dividend Announcement

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

Insider Transactions at The Cigna Group

In related news, Director Elder Granger sold 547 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $331.38, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other The Cigna Group news, insider Brian C. Evanko sold 4,795 shares of the firm’s stock in a transaction that occurred 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 owns 39,923 shares of the company’s stock, valued at $13,773,834.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Elder Granger sold 547 shares of the company’s stock in a transaction that occurred 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 directly owns 5,471 shares in the company, valued at $1,812,979.98. The disclosure for this sale can be found here. Insiders sold a total of 8,033 shares of company stock valued at $2,757,740 in the last quarter. 0.60% of the stock is currently owned by company insiders.

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.