Mercer Global Advisors Inc. ADV Has $22.14 Million Stock Position in The Cigna Group (NYSE:CI)

Mercer Global Advisors Inc. ADV raised its holdings in The Cigna Group (NYSE:CI) by 13.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 66,980 shares of the health services provider’s stock after buying an additional 8,133 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in The Cigna Group were worth $22,142,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of The Cigna Group by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 26,793,138 shares of the health services provider’s stock valued at $9,731,000,000 after acquiring an additional 2,017,333 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of The Cigna Group by 6.4% during the 1st 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 in the last quarter. Focused Investors Fund L P bought a new position in shares of The Cigna Group during the 1st quarter worth about $205,529,000. Swedbank AB bought a new stake in The Cigna Group in the 1st quarter valued at about $161,300,000. Finally, Assenagon Asset Management S.A. increased its position in The Cigna Group by 286.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 392,673 shares of the health services provider’s stock valued at $129,806,000 after buying an additional 290,968 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors.

The Cigna Group Price Performance

The Cigna Group stock opened at $355.39 on Thursday. The stock has a market cap of $100.96 billion, a P/E ratio of 29.18, a P/E/G ratio of 1.09 and a beta of 0.50. 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’s 50 day moving average price is $346.11 and its two-hundred day moving average price is $344.75. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $370.83.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $58.30 billion. During the same quarter in the previous year, the firm earned $6.13 earnings per share. The business’s revenue was up 24.6% on a year-over-year basis. On average, equities analysts predict that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Announces Dividend

The business also recently disclosed 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 yield of 1.58%. The Cigna Group’s dividend payout ratio (DPR) is presently 45.98%.

Insiders Place Their Bets

In other news, Director William J. Delaney III sold 2,691 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were 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 in the company, valued at approximately $6,010,264.52. The sale was disclosed in a document filed 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 stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the completion of the transaction, the insider now owns 39,923 shares in the company, valued at $13,773,834.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William J. Delaney III sold 2,691 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were 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 disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a research note on Monday. 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 target for the company. Royal Bank of Canada restated an “outperform” rating and set a $384.00 price objective on shares of The Cigna Group in a report on Monday, September 9th. Baird R W upgraded shares of The Cigna Group to a “strong-buy” rating in a report on Thursday, May 30th. Finally, Barclays upped their target price 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. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $392.79.

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.