Dana Investment Advisors Inc. Has $10.64 Million Holdings in The Cigna Group (NYSE:CI)

Dana Investment Advisors Inc. decreased its position in shares of The Cigna Group (NYSE:CI) by 0.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,198 shares of the health services provider’s stock after selling 132 shares during the quarter. Dana Investment Advisors Inc.’s holdings in The Cigna Group were worth $10,644,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CI. Van ECK Associates Corp grew its holdings in shares of The Cigna Group by 4.4% during the second quarter. Van ECK Associates Corp now owns 14,872 shares of the health services provider’s stock worth $4,916,000 after purchasing an additional 625 shares during the last quarter. Hancock Whitney Corp increased its position in The Cigna Group by 75.6% in the 1st quarter. Hancock Whitney Corp now owns 3,783 shares of the health services provider’s stock valued at $1,374,000 after acquiring an additional 1,629 shares during the period. ORG Partners LLC acquired a new position in The Cigna Group in the 2nd quarter valued at approximately $489,000. Public Employees Retirement Association of Colorado raised its stake in shares of The Cigna Group by 845.7% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 44,382 shares of the health services provider’s stock valued at $13,290,000 after acquiring an additional 39,689 shares during the last quarter. Finally, OLD Point Trust & Financial Services N A acquired a new position in shares of The Cigna Group during the fourth quarter worth $115,000. Institutional investors own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

CI has been the subject of several analyst reports. Jefferies Financial Group raised their target price on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. JPMorgan Chase & Co. raised their price objective on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Piper Sandler started coverage on The Cigna Group in a report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 target price on the stock. Barclays raised their price target on shares of The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $384.00 price objective on shares of The Cigna Group in a research note on Monday, September 9th. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $392.79.

The Cigna Group Stock Performance

CI opened at $346.44 on Tuesday. The company has a market cap of $98.41 billion, a price-to-earnings ratio of 28.44, a PEG ratio of 1.08 and a beta of 0.50. The company’s fifty day moving average price is $348.38 and its two-hundred day moving average price is $345.28. The Cigna Group has a 1-year low of $253.95 and a 1-year high of $370.83. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73.

The Cigna Group (NYSE:CI) last announced its quarterly 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 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 firm’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same quarter last year, the firm earned $6.13 EPS. On average, analysts expect that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Shareholders 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 1.62%. The ex-dividend date was Wednesday, September 4th. The Cigna Group’s dividend payout ratio (DPR) is presently 45.98%.

Insiders Place Their Bets

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $342.68, for a total value of $922,151.88. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.60% of the company’s stock.

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.