Bridges Investment Management Inc. Invests $614,000 in The Cigna Group (NYSE:CI)

Bridges Investment Management Inc. purchased a new position in shares of The Cigna Group (NYSE:CI) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 1,856 shares of the health services provider’s stock, valued at approximately $614,000.

A number of other institutional investors also recently modified their holdings of CI. Vanguard Group Inc. raised its holdings in shares of 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 buying an additional 2,017,333 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings 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 worth $5,208,593,000 after buying an additional 867,180 shares in the last quarter. Focused Investors Fund L P acquired a new position in The Cigna Group in the 1st quarter worth about $205,529,000. Swedbank AB acquired a new position in The Cigna Group in the 1st quarter worth about $161,300,000. Finally, Assenagon Asset Management S.A. increased its holdings in The Cigna Group by 286.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 392,673 shares of the health services provider’s stock worth $129,806,000 after purchasing an additional 290,968 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CI. Stephens reaffirmed an “overweight” rating and issued a $410.00 target price on shares of The Cigna Group in a report on Friday, August 2nd. 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 report on Wednesday, August 21st. Barclays upped their target price on The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Finally, Baird R W upgraded The Cigna Group to a “strong-buy” rating in a research report on Thursday, May 30th. 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’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $392.79.

Insiders Place Their Bets

In other The Cigna Group news, insider Brian C. Evanko sold 4,795 shares of the 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 transaction, the insider now owns 39,923 shares in the company, valued at $13,773,834.23. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 sale, the director now directly owns 17,539 shares of the company’s stock, valued at $6,010,264.52. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Brian C. Evanko sold 4,795 shares of the 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 directly owns 39,923 shares of the company’s stock, valued at $13,773,834.23. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.

The Cigna Group Stock Down 0.3 %

Shares of The Cigna Group stock opened at $356.14 on Friday. The Cigna Group has a one year low of $253.95 and a one year high of $370.83. 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 stock’s 50-day moving average is $347.02 and its 200 day moving average is $345.05. The firm has a market cap of $101.17 billion, a price-to-earnings ratio of 29.24, a PEG ratio of 1.09 and a beta of 0.50.

The Cigna Group (NYSE:CI) last announced its 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 company 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 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 earned $6.13 EPS. Equities research analysts anticipate that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Dividend Announcement

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

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.