The Cigna Group (NYSE:CI) Shares Bought by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ raised its position in The Cigna Group (NYSE:CI) by 526.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 363,537 shares of the health services provider’s stock after acquiring an additional 305,490 shares during the period. Skandinaviska Enskilda Banken AB publ owned approximately 0.13% of The Cigna Group worth $120,174,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Silicon Valley Capital Partners lifted its holdings in The Cigna Group by 100.0% in the first quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock valued at $25,000 after acquiring an additional 35 shares during the period. Cedar Wealth Management LLC acquired a new position in The Cigna Group during the first quarter worth about $29,000. Raleigh Capital Management Inc. increased its holdings in The Cigna Group by 69.5% in the fourth quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock valued at $30,000 after buying an additional 41 shares in the last quarter. TruNorth Capital Management LLC purchased a new stake in shares of The Cigna Group during the 2nd quarter worth approximately $33,000. Finally, Pineridge Advisors LLC acquired a new stake in shares of The Cigna Group in the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on CI shares. Royal Bank of Canada reiterated an “outperform” rating and set a $384.00 target price on shares of The Cigna Group in a research report on Monday, September 9th. Piper Sandler initiated 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 on the stock. Robert W. Baird started coverage on shares of The Cigna Group in a report on Thursday, May 30th. They set an “outperform” rating and a $388.00 target price for the company. Barclays upped their price target on shares of The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Jefferies Financial Group lifted their price objective on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research report on Tuesday. 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 company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $392.79.

Insider Buying and Selling

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction that occurred 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 sale, the director now directly owns 17,539 shares in the company, valued at approximately $6,010,264.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related 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 value of $922,151.88. Following the completion of the transaction, the director now directly owns 17,539 shares in the company, valued at $6,010,264.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian C. Evanko sold 4,795 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now owns 39,923 shares in the company, valued at approximately $13,773,834.23. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

The Cigna Group Stock Performance

Shares of NYSE:CI opened at $357.42 on Friday. The firm has a market capitalization of $101.53 billion, a PE ratio of 29.34, a P/E/G ratio of 1.09 and a beta of 0.50. The Cigna Group has a 12 month low of $253.95 and a 12 month high of $370.83. 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 business has a 50-day moving average of $346.59 and a two-hundred day moving average of $344.83.

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 for the quarter, topping analysts’ consensus estimates of $6.42 by $0.30. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The firm had revenue of $60.52 billion during the quarter, compared to analysts’ expectations of $58.30 billion. During the same period in the prior year, the company earned $6.13 EPS. The firm’s revenue was up 24.6% on a year-over-year basis. As a group, research analysts forecast that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Stockholders 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 dividend yield of 1.57%. The Cigna Group’s dividend payout ratio is presently 45.98%.

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.