American Century Companies Inc. Reduces Holdings in The Cigna Group (NYSE:CI)

American Century Companies Inc. cut its stake in The Cigna Group (NYSE:CI) by 30.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 293,543 shares of the health services provider’s stock after selling 131,026 shares during the period. American Century Companies Inc. owned about 0.10% of The Cigna Group worth $97,037,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Gryphon Financial Partners LLC acquired a new position in shares of The Cigna Group in the 4th quarter valued at $230,000. NBC Securities Inc. increased its stake in The Cigna Group by 26.2% in the fourth quarter. NBC Securities Inc. now owns 347 shares of the health services provider’s stock valued at $103,000 after purchasing an additional 72 shares during the period. Avantax Advisory Services Inc. raised its holdings in shares of The Cigna Group by 11.4% in the fourth quarter. Avantax Advisory Services Inc. now owns 3,328 shares of the health services provider’s stock valued at $997,000 after buying an additional 340 shares during the last quarter. Foundations Investment Advisors LLC boosted its stake in shares of The Cigna Group by 6.9% during the fourth quarter. Foundations Investment Advisors LLC now owns 841 shares of the health services provider’s stock worth $258,000 after buying an additional 54 shares during the period. Finally, Quadrant Capital Group LLC grew its holdings in shares of The Cigna Group by 3.7% during the fourth quarter. Quadrant Capital Group LLC now owns 2,514 shares of the health services provider’s stock worth $753,000 after buying an additional 89 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Insider Activity at The Cigna Group

In related news, insider Brian C. Evanko sold 4,795 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now 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 is available at the SEC website. In other The Cigna Group news, insider Brian C. Evanko sold 4,795 shares of The Cigna Group 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William J. Delaney III sold 2,691 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $342.68, for a total value of $922,151.88. Following the transaction, the director now directly owns 17,539 shares in the company, valued at approximately $6,010,264.52. The disclosure for this sale can be found here. Insiders have sold a total of 8,033 shares of company stock valued at $2,757,740 over the last quarter. Insiders own 0.60% of the company’s stock.

The Cigna Group Price Performance

The Cigna Group stock opened at $364.72 on Friday. 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 firm’s 50-day simple moving average is $344.18 and its 200 day simple moving average is $344.20. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $370.64. The firm has a market capitalization of $101.96 billion, a PE ratio of 29.94, a P/E/G ratio of 1.09 and a beta of 0.50.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 EPS for the quarter, beating the consensus estimate of $6.42 by $0.30. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The business had revenue of $60.52 billion for the quarter, compared to analyst estimates of $58.30 billion. During the same period in the prior year, the business earned $6.13 earnings per share. The company’s quarterly revenue was up 24.6% on a year-over-year basis. On average, equities research analysts predict that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th will be given a $1.40 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.54%. The Cigna Group’s dividend payout ratio is currently 45.98%.

Analyst Ratings Changes

A number of research firms have weighed in on CI. Royal Bank of Canada reaffirmed an “outperform” rating and set a $384.00 price objective on shares of The Cigna Group in a research report on Monday, September 9th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a research report on Tuesday. Robert W. Baird began coverage on shares of The Cigna Group in a report on Thursday, May 30th. They issued an “outperform” rating and a $388.00 target price on the stock. Barclays boosted their price target on shares of The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. boosted their target price on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, The Cigna Group has a consensus rating of “Buy” and an average target price of $387.00.

The Cigna Group 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.