Exchange Traded Concepts LLC Boosts Stock Holdings in The Cigna Group (NYSE:CI)

Exchange Traded Concepts LLC increased its stake in The Cigna Group (NYSE:CI) by 5,543.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,700 shares of the health services provider’s stock after acquiring an additional 5,599 shares during the period. Exchange Traded Concepts LLC’s holdings in The Cigna Group were worth $1,975,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in The Cigna Group by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 26,793,138 shares of the health services provider’s stock worth $9,731,000,000 after acquiring 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% in the first 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 purchasing an additional 867,180 shares during the last quarter. AQR Capital Management LLC increased its holdings in The Cigna Group by 63.4% during the 2nd 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 period. Swedbank AB bought a new position in The Cigna Group during the 1st quarter valued at approximately $161,300,000. Finally, Ameriprise Financial Inc. grew its position in shares of 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 worth $706,822,000 after buying an additional 405,694 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CI. Jefferies Financial Group upped their target price on The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. JPMorgan Chase & Co. raised their target price on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a research report on Tuesday, October 1st. Royal Bank of Canada reissued an “outperform” rating and issued a $384.00 price target on shares of The Cigna Group in a research note on Monday, September 9th. Finally, StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. 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. Based on data from MarketBeat, The Cigna Group presently has a consensus rating of “Buy” and an average target price of $392.79.

The Cigna Group Price Performance

Shares of NYSE:CI opened at $348.91 on Wednesday. The business has a fifty day moving average price of $349.71 and a 200-day moving average price of $344.46. 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 company has a market capitalization of $99.12 billion, a PE ratio of 28.65, a PEG ratio of 1.05 and a beta of 0.50. The Cigna Group has a 1-year low of $253.95 and a 1-year high of $370.83.

The Cigna Group (NYSE:CI) last released its quarterly earnings data 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 business had revenue of $60.52 billion during the quarter, compared to analyst estimates of $58.30 billion. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The Cigna Group’s revenue was up 24.6% compared to the same quarter last year. During the same period last year, the business earned $6.13 EPS. As a group, equities analysts expect that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, September 4th were issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date was Wednesday, September 4th. The Cigna Group’s payout ratio is 45.98%.

Insider Transactions at The Cigna Group

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 transaction of $922,151.88. Following the transaction, the director now owns 17,539 shares in the company, valued at approximately $6,010,264.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.