TIAA Trust National Association Acquires 225 Shares of The Cigna Group (NYSE:CI)

TIAA Trust National Association lifted its holdings in shares of The Cigna Group (NYSE:CI) by 1.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,881 shares of the health services provider’s stock after purchasing an additional 225 shares during the period. TIAA Trust National Association’s holdings in The Cigna Group were worth $4,589,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Harfst & Associates Inc. grew its position in shares of The Cigna Group by 3.8% during the 2nd quarter. Harfst & Associates Inc. now owns 4,506 shares of the health services provider’s stock valued at $1,490,000 after acquiring an additional 164 shares during the period. Verus Capital Partners LLC bought a new stake in shares of The Cigna Group in the second quarter valued at $213,000. Resonant Capital Advisors LLC grew its stake in shares of The Cigna Group by 6.9% during the 2nd quarter. Resonant Capital Advisors LLC now owns 869 shares of the health services provider’s stock worth $287,000 after acquiring an additional 56 shares during the period. United Asset Strategies Inc. increased its holdings in The Cigna Group by 1.5% in the 2nd quarter. United Asset Strategies Inc. now owns 46,977 shares of the health services provider’s stock worth $15,529,000 after acquiring an additional 681 shares during the last quarter. Finally, Financial Counselors Inc. raised its position in shares of The Cigna Group by 8.1% in the second quarter. Financial Counselors Inc. now owns 1,890 shares of the health services provider’s stock valued at $625,000 after purchasing an additional 142 shares during the period. Institutional investors own 86.99% of the company’s stock.

Insider Buying and Selling

In other news, insider Brian C. Evanko sold 4,795 shares of the firm’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $345.01, for a total value of $1,654,322.95. Following the completion of the sale, the insider now directly owns 39,923 shares of the company’s stock, valued at approximately $13,773,834.23. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other The Cigna Group news, insider Brian C. Evanko sold 4,795 shares of The Cigna Group stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the sale, the insider now directly owns 39,923 shares of the company’s stock, valued at approximately $13,773,834.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director William J. Delaney III sold 2,691 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $342.68, for a total value 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 disclosure for this sale can be found here. Insiders sold 9,033 shares of company stock valued at $3,095,820 over the last quarter. 0.60% of the stock is owned by company insiders.

The Cigna Group Stock Performance

The Cigna Group stock opened at $366.64 on Thursday. 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 company has a market capitalization of $104.15 billion, a PE ratio of 30.10, a P/E/G ratio of 1.10 and a beta of 0.52. The firm has a fifty day simple moving average of $339.73 and a two-hundred day simple moving average of $343.43. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $370.64.

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 analysts’ consensus estimates of $6.42 by $0.30. The company had revenue of $60.52 billion during the quarter, compared to analyst estimates of $58.30 billion. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The Cigna Group’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.13 EPS. Research analysts expect that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Wednesday, September 4th will be issued a dividend of $1.40 per share. The ex-dividend date is Wednesday, September 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.53%. The Cigna Group’s dividend payout ratio is presently 45.98%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Baird R W upgraded The Cigna Group to a “strong-buy” rating in a research report on Thursday, May 30th. Piper Sandler began coverage on shares of The Cigna Group in a research report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 price objective for the company. Finally, 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. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $384.86.

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.