Lombard Odier Asset Management Europe Ltd Acquires New Position in The Cigna Group (NYSE:CI)

Lombard Odier Asset Management Europe Ltd acquired a new stake in The Cigna Group (NYSE:CI) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 6,034 shares of the health services provider’s stock, valued at approximately $1,995,000.

Other institutional investors have also recently made changes to their positions in the company. Van ECK Associates Corp grew its holdings in shares of The Cigna Group by 4.4% in the second quarter. Van ECK Associates Corp now owns 14,872 shares of the health services provider’s stock valued at $4,916,000 after purchasing an additional 625 shares in the last quarter. TFO Wealth Partners LLC lifted its stake in The Cigna Group by 98,980.0% in the fourth quarter. TFO Wealth Partners LLC now owns 4,954 shares of the health services provider’s stock worth $1,497,000 after acquiring an additional 4,949 shares during the last quarter. Hancock Whitney Corp lifted its stake in The Cigna Group by 75.6% in the first quarter. Hancock Whitney Corp now owns 3,783 shares of the health services provider’s stock worth $1,374,000 after acquiring an additional 1,629 shares during the last quarter. Bank of Nova Scotia lifted its stake in The Cigna Group by 63.5% in the fourth quarter. Bank of Nova Scotia now owns 101,772 shares of the health services provider’s stock worth $30,475,000 after acquiring an additional 39,530 shares during the last quarter. Finally, ORG Partners LLC purchased a new position in The Cigna Group in the second quarter worth approximately $489,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Stock Performance

Shares of The Cigna Group stock opened at $354.92 on Tuesday. The firm’s fifty day simple moving average is $347.49 and its 200-day simple moving average is $345.17. The stock has a market capitalization of $100.82 billion, a price-to-earnings ratio of 29.14, a PEG ratio of 1.09 and a beta of 0.50. The Cigna Group has a 12 month low of $253.95 and a 12 month 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 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 analysts’ consensus estimates of $6.42 by $0.30. The business had revenue of $60.52 billion for 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 company’s quarterly revenue was up 24.6% on a year-over-year basis. During the same period in the previous year, the company posted $6.13 EPS. As a group, equities analysts forecast that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, September 4th were paid a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $5.60 annualized dividend and a yield of 1.58%. The Cigna Group’s dividend payout ratio is currently 45.98%.

Analyst Ratings Changes

A number of brokerages recently issued reports on CI. Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a research note on Monday, September 16th. Piper Sandler began coverage on shares of The Cigna Group in a research note on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 price target for the company. Barclays lifted 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. Jefferies Financial Group lifted their price target on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. 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.com, the company currently has a consensus rating of “Buy” and an average target price of $392.79.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the business’s stock in a transaction on Monday, August 19th. The shares were 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 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 is accessible through this link. 0.60% of the stock is currently owned by corporate insiders.

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.