Ameriprise Financial Inc. Has $706.82 Million Position in The Cigna Group (NYSE:CI)

Ameriprise Financial Inc. increased its stake in shares of The Cigna Group (NYSE:CI) by 23.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,138,193 shares of the health services provider’s stock after acquiring an additional 405,694 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.75% of The Cigna Group worth $706,822,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its position 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 purchasing an additional 2,017,333 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in 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 during the period. Parnassus Investments LLC boosted its holdings 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 worth $803,143,000 after acquiring an additional 126,598 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in The Cigna Group by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,628,807 shares of the health services provider’s stock valued at $869,078,000 after acquiring an additional 150,765 shares during the period. Finally, AQR Capital Management LLC increased its holdings in shares of The Cigna Group by 63.4% during the second quarter. AQR Capital Management LLC now owns 1,547,245 shares of the health services provider’s stock valued at $510,467,000 after acquiring an additional 600,215 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CI shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a report on Monday, September 16th. Robert W. Baird started coverage on shares of The Cigna Group in a research note on Thursday, May 30th. They issued an “outperform” rating and a $388.00 price objective on the stock. Barclays boosted their target price on shares of The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Stephens reaffirmed an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a research report on Friday, August 2nd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $384.00 price objective on shares of The Cigna Group in a report on Monday, September 9th. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, The Cigna Group presently has a consensus rating of “Buy” and an average target price of $392.79.

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 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 owns 17,539 shares in the company, valued at approximately $6,010,264.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.60% of the company’s stock.

The Cigna Group Stock Down 1.2 %

Shares of NYSE:CI opened at $348.86 on Thursday. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $370.83. The company has a market capitalization of $97.52 billion, a PE ratio of 28.64, a price-to-earnings-growth ratio of 1.08 and a beta of 0.50. The business has a fifty day moving average price of $347.76 and a two-hundred day moving average price 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 posted its quarterly earnings data 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 net margin of 1.70% and a return on equity of 17.83%. The firm’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter last year, the company posted $6.13 earnings per share. 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 announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, September 4th were given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date was Wednesday, September 4th. The Cigna Group’s dividend payout ratio is currently 45.98%.

About The Cigna Group

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.