Intech Investment Management LLC Purchases 24,966 Shares of The Cigna Group (NYSE:CI)

Intech Investment Management LLC boosted its position in The Cigna Group (NYSE:CI) by 61.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 65,750 shares of the health services provider’s stock after purchasing an additional 24,966 shares during the quarter. Intech Investment Management LLC’s holdings in The Cigna Group were worth $21,735,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of The Cigna Group by 8.1% during the first 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 last quarter. Price T Rowe Associates Inc. MD boosted its position in The Cigna Group by 6.4% in the first 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 buying an additional 867,180 shares during the last quarter. Sanders Capital LLC boosted its position in The Cigna Group by 1.3% in the fourth quarter. Sanders Capital LLC now owns 7,727,729 shares of the health services provider’s stock valued at $2,314,068,000 after buying an additional 97,277 shares during the last quarter. Parnassus Investments LLC boosted its position in The Cigna Group by 5.0% in the fourth quarter. Parnassus Investments LLC now owns 2,682,061 shares of the health services provider’s stock valued at $803,143,000 after buying an additional 126,598 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in The Cigna Group by 6.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,628,807 shares of the health services provider’s stock worth $869,078,000 after purchasing an additional 150,765 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors.

The Cigna Group Stock Up 0.6 %

Shares of CI opened at $357.42 on Friday. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83. The company has a market capitalization of $101.53 billion, a PE ratio of 29.34, a price-to-earnings-growth ratio of 1.09 and a beta of 0.50. The stock has a fifty day simple moving average of $346.59 and a two-hundred day simple moving average of $344.83. 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 (NYSE:CI) last issued its earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.42 by $0.30. The business 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 company’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same period last year, the company earned $6.13 EPS. As a group, equities analysts forecast that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th were issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend was Wednesday, September 4th. The Cigna Group’s dividend payout ratio is presently 45.98%.

Insider Transactions at The Cigna Group

In other news, 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 transaction of $922,151.88. Following the completion of the transaction, the director now directly owns 17,539 shares in the company, valued at approximately $6,010,264.52. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director William J. Delaney III sold 2,691 shares of the firm’s 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 in the company, valued at approximately $6,010,264.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian C. Evanko sold 4,795 shares of The Cigna Group 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 disclosure for this sale can be found here. Company insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on CI. Robert W. Baird began coverage on The Cigna Group in a research report on Thursday, May 30th. They issued an “outperform” rating and a $388.00 price objective on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a research note on Monday. JPMorgan Chase & Co. upped their target price on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Stephens reaffirmed an “overweight” rating and set a $410.00 target price on shares of The Cigna Group in a research note on Friday, August 2nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $384.00 target price on shares of The Cigna Group in a research note on Monday, September 9th. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $392.79.

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.