BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Increases Stock Position in The Cigna Group (NYSE:CI)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of The Cigna Group (NYSE:CI) by 55.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 54,350 shares of the health services provider’s stock after buying an additional 19,296 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in The Cigna Group were worth $17,966,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Silicon Valley Capital Partners lifted its holdings in shares of The Cigna Group by 100.0% during the 1st quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock valued at $25,000 after acquiring an additional 35 shares in the last quarter. Cedar Wealth Management LLC bought a new stake in shares of The Cigna Group in the 1st quarter worth about $29,000. Raleigh Capital Management Inc. increased its position in shares of The Cigna Group by 69.5% in the 4th quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock worth $30,000 after purchasing an additional 41 shares during the last quarter. TruNorth Capital Management LLC bought a new stake in shares of The Cigna Group in the 2nd quarter worth about $33,000. Finally, Pineridge Advisors LLC bought a new stake in shares of The Cigna Group during the 4th quarter valued at about $37,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity 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 shares were sold at an average price of $342.68, for a total transaction of $922,151.88. Following the transaction, the director now owns 17,539 shares in the company, valued at approximately $6,010,264.52. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.60% of the company’s stock.

The Cigna Group Stock Down 0.4 %

CI stock opened at $353.35 on Wednesday. The Cigna Group has a 12 month low of $253.95 and a 12 month high of $370.83. The firm has a market cap of $100.38 billion, a PE ratio of 29.01, a P/E/G ratio of 1.09 and a beta of 0.50. The firm has a 50 day simple moving average of $347.76 and a 200 day simple moving average of $345.26. 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 released 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 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 during 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 business’s quarterly revenue was up 24.6% on a year-over-year basis. Equities research analysts forecast that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a research report on Monday, September 16th. Royal Bank of Canada restated an “outperform” rating and issued a $384.00 target price on shares of The Cigna Group in a research report on Monday, September 9th. JPMorgan Chase & Co. upped their target price on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. 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. Finally, Jefferies Financial Group upped their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, The Cigna Group has an average rating of “Buy” and a consensus target price of $392.79.

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.