ProShare Advisors LLC Acquires 1,704 Shares of The Cigna Group (NYSE:CI)

ProShare Advisors LLC raised its holdings in The Cigna Group (NYSE:CI) by 3.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 46,865 shares of the health services provider’s stock after buying an additional 1,704 shares during the quarter. ProShare Advisors LLC’s holdings in The Cigna Group were worth $15,492,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position 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 purchasing an additional 2,017,333 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in The Cigna Group by 6.4% during 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 buying an additional 867,180 shares in the last quarter. Focused Investors Fund L P bought a new position in The Cigna Group during the first quarter valued at about $205,529,000. Swedbank AB acquired a new position in The Cigna Group in the 1st quarter valued at approximately $161,300,000. Finally, Skandinaviska Enskilda Banken AB publ raised its holdings in The Cigna Group by 526.3% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 363,537 shares of the health services provider’s stock valued at $120,174,000 after acquiring an additional 305,490 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a research report on Monday, September 16th. Baird R W raised shares of The Cigna Group to a “strong-buy” rating in a report on Thursday, May 30th. Barclays raised their price objective 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. Jefferies Financial Group upped their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Finally, Robert W. Baird assumed coverage on shares of The Cigna Group in a research report on Thursday, May 30th. They issued an “outperform” rating and a $388.00 price target for the company. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, The Cigna Group has an average rating of “Buy” and an average target price of $392.79.

The Cigna Group Stock Down 0.3 %

NYSE CI opened at $354.92 on Tuesday. The stock’s 50 day simple moving average is $347.49 and its 200 day simple moving average is $345.17. The Cigna Group has a one year low of $253.95 and a one year high of $370.83. The firm has a market cap of $100.82 billion, a PE ratio of 29.14, a price-to-earnings-growth ratio of 1.09 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 earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) 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 company had revenue of $60.52 billion for the quarter, compared to analyst estimates of $58.30 billion. During the same period in the prior year, the business earned $6.13 earnings per share. The Cigna Group’s quarterly revenue was up 24.6% on a year-over-year basis. As a group, sell-side analysts forecast that The Cigna Group will post 28.48 earnings per share 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 given a dividend of $1.40 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.58%. The Cigna Group’s payout ratio is presently 45.98%.

Insider Activity

In related news, 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 of the company’s stock, valued at $6,010,264.52. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.60% of the company’s stock.

The Cigna Group Company 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.