Mercer Global Advisors Inc. ADV Buys 8,133 Shares of The Cigna Group (NYSE:CI)

Mercer Global Advisors Inc. ADV grew its stake in shares of The Cigna Group (NYSE:CI) by 13.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,980 shares of the health services provider’s stock after buying an additional 8,133 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in The Cigna Group were worth $22,142,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CI. Vanguard Group Inc. increased its holdings in The Cigna Group by 8.1% during 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 acquiring an additional 2,017,333 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of The Cigna Group by 6.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,341,233 shares of the health services provider’s stock valued at $5,208,593,000 after purchasing an additional 867,180 shares in the last quarter. Focused Investors Fund L P bought a new position in shares of The Cigna Group in the first quarter worth $205,529,000. Swedbank AB purchased a new stake in shares of The Cigna Group in the first quarter worth $161,300,000. Finally, Assenagon Asset Management S.A. boosted its stake in The Cigna Group by 286.1% during the second quarter. Assenagon Asset Management S.A. now owns 392,673 shares of the health services provider’s stock valued at $129,806,000 after buying an additional 290,968 shares during the period. 86.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at The Cigna Group

In other news, Director William J. Delaney III sold 2,691 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now owns 17,539 shares of the company’s stock, valued at approximately $6,010,264.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Brian C. Evanko sold 4,795 shares of The Cigna Group stock in a transaction dated 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 transaction, the insider now owns 39,923 shares of the company’s stock, valued at approximately $13,773,834.23. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction dated Monday, August 19th. The stock was 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 directly owns 17,539 shares of the company’s stock, valued at $6,010,264.52. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

CI has been the topic of a number of research analyst reports. Piper Sandler assumed coverage on The Cigna Group in a research note on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 target price on the stock. Jefferies Financial Group raised their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. boosted their price target 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. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a research report on Monday. Finally, StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, The Cigna Group presently has an average rating of “Buy” and an average price target of $392.79.

The Cigna Group Stock Performance

NYSE:CI opened at $355.39 on Thursday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.71. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $370.83. The firm has a market cap of $100.96 billion, a PE ratio of 29.18, a price-to-earnings-growth ratio of 1.09 and a beta of 0.50. The business has a 50 day moving average price of $346.11 and a 200-day moving average price of $344.75.

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

The Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th will be paid a dividend of $1.40 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.58%. The Cigna Group’s dividend payout ratio (DPR) is presently 45.98%.

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.