International Assets Investment Management LLC Acquires 399,230 Shares of The Cigna Group (NYSE:CI)

International Assets Investment Management LLC increased its holdings in shares of The Cigna Group (NYSE:CI) by 49,287.7% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 400,040 shares of the health services provider’s stock after purchasing an additional 399,230 shares during the quarter. International Assets Investment Management LLC owned 0.14% of The Cigna Group worth $138,590,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Axecap Investments LLC bought a new stake in The Cigna Group during the 3rd quarter worth approximately $3,500,000. Greenleaf Trust increased its stake in The Cigna Group by 1.1% during the 3rd quarter. Greenleaf Trust now owns 8,994 shares of the health services provider’s stock worth $3,116,000 after purchasing an additional 100 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its stake in The Cigna Group by 22.5% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 2,487 shares of the health services provider’s stock worth $862,000 after purchasing an additional 457 shares in the last quarter. BLB&B Advisors LLC increased its stake in The Cigna Group by 2.0% during the 3rd quarter. BLB&B Advisors LLC now owns 2,245 shares of the health services provider’s stock worth $778,000 after purchasing an additional 43 shares in the last quarter. Finally, RBA Wealth Management LLC grew its stake in shares of The Cigna Group by 5.5% during the 3rd quarter. RBA Wealth Management LLC now owns 11,242 shares of the health services provider’s stock worth $3,895,000 after acquiring an additional 589 shares in the last quarter. 86.99% of the stock is owned by institutional investors.

The Cigna Group Trading Down 0.5 %

Shares of The Cigna Group stock opened at $316.78 on Friday. The business has a fifty day simple moving average of $349.48 and a two-hundred day simple moving average of $343.22. 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 $89.99 billion, a price-to-earnings ratio of 26.01, a P/E/G ratio of 1.05 and a beta of 0.50. 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 announced its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) 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 business had revenue of $60.52 billion during the quarter, compared to the consensus estimate of $58.30 billion. During the same quarter last year, the firm posted $6.13 EPS. The company’s quarterly revenue was up 24.6% on a year-over-year basis. Research analysts forecast that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.77%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s dividend payout ratio is 45.98%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a research note on Wednesday. JPMorgan Chase & Co. raised their price target 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. 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 research note on Friday, August 2nd. Jefferies Financial Group raised their price target on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $384.00 price target on shares of The Cigna Group in a research note on Monday, September 9th. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $392.79.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the firm’s 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 sale, the director now owns 17,539 shares of the company’s stock, valued at $6,010,264.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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.