The Cigna Group (NYSE:CI) Shares Acquired by AlTi Global Inc.

AlTi Global Inc. increased its position in shares of The Cigna Group (NYSE:CI) by 26.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,153 shares of the health services provider’s stock after buying an additional 240 shares during the quarter. AlTi Global Inc.’s holdings in The Cigna Group were worth $381,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in CI. Gryphon Financial Partners LLC acquired a new position in The Cigna Group in the fourth quarter valued at $230,000. Quest Partners LLC purchased a new position in shares of The Cigna Group during the fourth quarter worth about $53,000. Hilltop Holdings Inc. increased its position in The Cigna Group by 6.4% in the 4th quarter. Hilltop Holdings Inc. now owns 777 shares of the health services provider’s stock valued at $233,000 after acquiring an additional 47 shares during the period. Edmond DE Rothschild Holding S.A. raised its stake in The Cigna Group by 42.6% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 857 shares of the health services provider’s stock valued at $257,000 after acquiring an additional 256 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its position in The Cigna Group by 0.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 10,520 shares of the health services provider’s stock worth $3,150,000 after acquiring an additional 38 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

Insider Buying and Selling at The Cigna Group

In other news, Director William J. Delaney III sold 2,691 shares of the firm’s stock in a transaction that occurred 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 completion of 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 SEC, which is available at the SEC website. Insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CI shares. Cantor Fitzgerald reissued 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 initiated 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. JPMorgan Chase & Co. raised 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 note on Wednesday, August 21st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $384.00 target price on shares of The Cigna Group in a report on Monday, September 9th. Finally, StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, The Cigna Group has a consensus rating of “Buy” and an average target price of $392.79.

The Cigna Group Stock Performance

CI opened at $344.91 on Friday. The Cigna Group has a 1-year low of $253.95 and a 1-year high of $370.83. The stock has a market cap of $97.98 billion, a P/E ratio of 28.32, a P/E/G ratio of 1.08 and a beta of 0.50. The stock’s 50 day simple moving average is $347.84 and its 200 day simple moving average is $345.28. 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 earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, beating the consensus estimate of $6.42 by $0.30. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The company had revenue of $60.52 billion for the quarter, compared to analyst estimates of $58.30 billion. During the same quarter in the prior year, the company earned $6.13 earnings per share. The Cigna Group’s revenue was up 24.6% compared to the same quarter last year. As a group, equities analysts anticipate that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, September 4th were given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date was Wednesday, September 4th. The Cigna Group’s payout ratio is currently 45.98%.

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.