MBB Public Markets I LLC Buys 19,135 Shares of The Cigna Group (NYSE:CI)

MBB Public Markets I LLC increased its stake in The Cigna Group (NYSE:CI) by 1,736.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,237 shares of the health services provider’s stock after purchasing an additional 19,135 shares during the quarter. MBB Public Markets I LLC’s holdings in The Cigna Group were worth $6,690,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of CI. Vanguard Group Inc. increased its position in The Cigna Group by 8.1% in the first 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 during the last quarter. Price T Rowe Associates Inc. MD grew its stake 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 acquiring an additional 867,180 shares during the period. Dimensional Fund Advisors LP increased its holdings in The Cigna Group by 6.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,628,807 shares of the health services provider’s stock worth $869,078,000 after acquiring an additional 150,765 shares during the last quarter. Ameriprise Financial Inc. raised its stake in The Cigna Group by 23.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,138,193 shares of the health services provider’s stock valued at $706,822,000 after acquiring an additional 405,694 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in 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 purchasing an additional 600,215 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CI. Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a research note on Monday, September 16th. Piper Sandler initiated 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 objective for the company. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $384.00 price target on shares of The Cigna Group in a research report on Monday, September 9th. Finally, JPMorgan Chase & Co. increased their price objective on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. One research 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 stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $392.79.

Insider Activity at The Cigna Group

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction dated 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 sale, the director now owns 17,539 shares of the company’s stock, valued at $6,010,264.52. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.60% of the stock is owned by insiders.

The Cigna Group Stock Performance

NYSE:CI opened at $347.63 on Friday. The stock has a market cap of $98.75 billion, a P/E ratio of 28.54, a PEG ratio of 1.08 and a beta of 0.50. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.73. The business’s 50-day moving average price is $348.16 and its two-hundred day moving average price is $345.32. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $370.83.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $58.30 billion. During the same period last year, the firm posted $6.13 earnings per share. The Cigna Group’s quarterly revenue was up 24.6% on a year-over-year basis. As a group, equities analysts predict that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, September 4th were given a $1.40 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $5.60 annualized dividend and a yield of 1.61%. The Cigna Group’s dividend payout ratio (DPR) is presently 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.