The Cigna Group (NYSE:CI) Position Raised by AMF Tjanstepension AB

AMF Tjanstepension AB raised its stake in The Cigna Group (NYSE:CI) by 18.6% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 73,600 shares of the health services provider’s stock after buying an additional 11,550 shares during the quarter. AMF Tjanstepension AB’s holdings in The Cigna Group were worth $25,511,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CI. Scotia Capital Inc. raised its stake in shares of The Cigna Group by 13.4% during the fourth quarter. Scotia Capital Inc. now owns 2,045 shares of the health services provider’s stock valued at $612,000 after purchasing an additional 242 shares in the last quarter. Campbell & CO Investment Adviser LLC raised its stake in shares of The Cigna Group by 26.1% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 3,159 shares of the health services provider’s stock valued at $946,000 after purchasing an additional 653 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of The Cigna Group by 12.1% during the fourth quarter. Jones Financial Companies Lllp now owns 1,317 shares of the health services provider’s stock valued at $394,000 after purchasing an additional 142 shares in the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of The Cigna Group by 1.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 70,145 shares of the health services provider’s stock valued at $21,005,000 after purchasing an additional 1,268 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of The Cigna Group by 221.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 38,256 shares of the health services provider’s stock valued at $11,456,000 after purchasing an additional 26,364 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors.

The Cigna Group Trading Down 2.1 %

NYSE:CI opened at $340.64 on Thursday. 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 has a fifty-two week low of $253.95 and a fifty-two week high of $370.83. The stock’s 50-day moving average is $348.58 and its two-hundred day moving average is $345.22. The stock has a market cap of $96.77 billion, a PE ratio of 27.97, a price-to-earnings-growth ratio of 1.08 and a beta of 0.50.

The Cigna Group (NYSE:CI) last released 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 analysts’ expectations of $58.30 billion. During the same quarter in the previous year, the business posted $6.13 EPS. The business’s revenue for the quarter was up 24.6% on a year-over-year basis. As a group, equities research analysts forecast that The Cigna Group will post 28.48 earnings per share 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 paid a dividend of $1.40 per share. The ex-dividend date was Wednesday, September 4th. This represents a $5.60 annualized dividend and a yield of 1.64%. The Cigna Group’s dividend payout ratio (DPR) is presently 45.98%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CI. Royal Bank of Canada restated an “outperform” rating and set a $384.00 price objective on shares of The Cigna Group in a research note on Monday, September 9th. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a research note on Tuesday. Piper Sandler initiated coverage on The Cigna Group in a report on Wednesday, June 26th. They set an “overweight” rating and a $400.00 target price on the stock. Stephens reaffirmed an “overweight” rating and set a $410.00 target price on shares of The Cigna Group in a report on Friday, August 2nd. Finally, Barclays lifted their target price on The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target 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 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 directly owns 17,539 shares in the company, valued at approximately $6,010,264.52. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.60% of the company’s stock.

The Cigna Group 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.