Xponance Inc. Decreases Stock Holdings in The Cigna Group (NYSE:CI)

Xponance Inc. trimmed its position in shares of The Cigna Group (NYSE:CI) by 3.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 42,697 shares of the health services provider’s stock after selling 1,753 shares during the quarter. Xponance Inc.’s holdings in The Cigna Group were worth $14,114,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Lombard Odier Asset Management Europe Ltd acquired a new stake in shares of The Cigna Group during the 2nd quarter worth approximately $1,995,000. Evergreen Capital Management LLC grew its stake in shares of The Cigna Group by 2.3% during the 2nd quarter. Evergreen Capital Management LLC now owns 3,697 shares of the health services provider’s stock worth $1,222,000 after purchasing an additional 82 shares during the period. Integral Health Asset Management LLC grew its stake in shares of The Cigna Group by 25.0% during the 2nd quarter. Integral Health Asset Management LLC now owns 50,000 shares of the health services provider’s stock worth $16,528,000 after purchasing an additional 10,000 shares during the period. Magnetar Financial LLC grew its stake in shares of The Cigna Group by 16.4% during the 2nd quarter. Magnetar Financial LLC now owns 190,119 shares of the health services provider’s stock worth $62,848,000 after purchasing an additional 26,783 shares during the period. Finally, Public Sector Pension Investment Board grew its stake in shares of The Cigna Group by 68.4% during the 2nd quarter. Public Sector Pension Investment Board now owns 11,003 shares of the health services provider’s stock worth $3,637,000 after purchasing an additional 4,471 shares during the period. 86.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Piper Sandler began coverage on shares of The Cigna Group in a research note on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 price target on the stock. Robert W. Baird initiated coverage on The Cigna Group in a report on Thursday, May 30th. They issued an “outperform” rating and a $388.00 price objective on the stock. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Barclays lifted their target price on The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $384.00 price objective on shares of The Cigna Group in a report on Monday, September 9th. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, The Cigna Group currently has an average rating of “Buy” and an average price target of $392.79.

The Cigna Group Trading Down 0.3 %

NYSE CI opened at $354.92 on Tuesday. 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 company has a market capitalization of $100.82 billion, a price-to-earnings ratio of 29.14, a price-to-earnings-growth ratio of 1.09 and a beta of 0.50. The firm’s fifty day moving average price is $347.49 and its 200 day moving average price is $345.17.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.42 by $0.30. The company had revenue of $60.52 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 24.6% on a year-over-year basis. During the same period last year, the firm posted $6.13 EPS. On average, sell-side analysts expect that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th were issued a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend was Wednesday, September 4th. The Cigna Group’s payout ratio is 45.98%.

Insiders Place Their Bets

In other news, Director William J. Delaney III sold 2,691 shares of The Cigna Group 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 completion of the sale, the director now directly owns 17,539 shares in the company, valued at $6,010,264.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.60% of the stock is currently owned by company insiders.

About The Cigna Group

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.