The Cigna Group (NYSE:CI) Shares Acquired by Harbor Investment Advisory LLC

Harbor Investment Advisory LLC lifted its position in shares of The Cigna Group (NYSE:CI) by 3.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,725 shares of the health services provider’s stock after purchasing an additional 56 shares during the period. Harbor Investment Advisory LLC’s holdings in The Cigna Group were worth $597,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Czech National Bank increased its position in shares of The Cigna Group by 5.2% during the third quarter. Czech National Bank now owns 56,947 shares of the health services provider’s stock worth $19,729,000 after purchasing an additional 2,813 shares in the last quarter. AMF Tjanstepension AB increased its position in shares of The Cigna Group by 18.6% during the third quarter. AMF Tjanstepension AB now owns 73,600 shares of the health services provider’s stock worth $25,511,000 after purchasing an additional 11,550 shares in the last quarter. Mattson Financial Services LLC acquired a new position in The Cigna Group in the 2nd quarter valued at about $2,821,000. Anchor Investment Management LLC increased its position in The Cigna Group by 4.7% in the 2nd quarter. Anchor Investment Management LLC now owns 4,768 shares of the health services provider’s stock valued at $1,576,000 after acquiring an additional 214 shares during the period. Finally, Sanctuary Advisors LLC acquired a new position in The Cigna Group in the 2nd quarter valued at about $13,895,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Insider Activity at The Cigna Group

In related news, Director William J. Delaney III sold 2,691 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $342.68, for a total value of $922,151.88. Following the sale, the director now owns 17,539 shares of the company’s stock, valued at approximately $6,010,264.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.60% of the stock is owned by corporate insiders.

The Cigna Group Price Performance

Shares of NYSE:CI opened at $341.70 on Friday. The business’s 50 day simple moving average is $348.53 and its 200-day simple moving average is $345.06. The firm has a market capitalization of $97.07 billion, a price-to-earnings ratio of 28.05, a price-to-earnings-growth ratio of 1.08 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 has a 12 month low of $253.95 and a 12 month high of $370.83.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 EPS for the quarter, topping the consensus estimate of $6.42 by $0.30. The business had revenue of $60.52 billion for the quarter, compared to analyst estimates of $58.30 billion. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The company’s quarterly revenue was up 24.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $6.13 EPS. As a group, equities analysts forecast 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 declared 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. This represents a $5.60 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend was Wednesday, September 4th. The Cigna Group’s dividend payout ratio (DPR) is 45.98%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CI shares. Royal Bank of Canada restated an “outperform” rating and issued a $384.00 price target on shares of The Cigna Group in a research report on Monday, September 9th. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Stephens restated an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a research report on Friday, August 2nd. Piper Sandler started coverage on The Cigna Group in a research report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 price target on the stock. Finally, Jefferies Financial Group boosted their price target on The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. One equities research 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 data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $392.79.

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.