Intech Investment Management LLC Buys 24,966 Shares of The Cigna Group (NYSE:CI)

Intech Investment Management LLC raised its stake in shares of The Cigna Group (NYSE:CI) by 61.2% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 65,750 shares of the health services provider’s stock after acquiring an additional 24,966 shares during the period. Intech Investment Management LLC’s holdings in The Cigna Group were worth $21,735,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Van ECK Associates Corp lifted its stake in The Cigna Group by 4.4% during the 2nd quarter. Van ECK Associates Corp now owns 14,872 shares of the health services provider’s stock valued at $4,916,000 after acquiring an additional 625 shares during the period. TFO Wealth Partners LLC increased its position in shares of The Cigna Group by 98,980.0% during the 4th quarter. TFO Wealth Partners LLC now owns 4,954 shares of the health services provider’s stock valued at $1,497,000 after purchasing an additional 4,949 shares during the last quarter. Hancock Whitney Corp increased its position in shares of The Cigna Group by 75.6% during the 1st quarter. Hancock Whitney Corp now owns 3,783 shares of the health services provider’s stock valued at $1,374,000 after purchasing an additional 1,629 shares during the last quarter. Bank of Nova Scotia increased its position in shares of The Cigna Group by 63.5% during the 4th quarter. Bank of Nova Scotia now owns 101,772 shares of the health services provider’s stock valued at $30,475,000 after purchasing an additional 39,530 shares during the last quarter. Finally, ORG Partners LLC purchased a new stake in shares of The Cigna Group during the 2nd quarter valued at about $489,000. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Up 0.6 %

NYSE CI opened at $357.42 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.71. The company has a market capitalization of $101.53 billion, a P/E ratio of 29.34, a P/E/G ratio of 1.09 and a beta of 0.50. The Cigna Group has a one year low of $253.95 and a one year high of $370.83. The stock has a 50 day moving average price of $346.59 and a 200-day moving average price of $344.83.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, August 1st. The health services provider reported $6.72 EPS for the quarter, beating analysts’ consensus estimates of $6.42 by $0.30. The firm had revenue of $60.52 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the company earned $6.13 EPS. As a group, equities analysts predict that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, September 4th were given a $1.40 dividend. 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 1.57%. The Cigna Group’s dividend payout ratio is presently 45.98%.

Wall Street Analyst Weigh In

Several research firms have recently commented on CI. Piper Sandler began coverage on shares of The Cigna Group in a research report on Wednesday, June 26th. They set an “overweight” rating and a $400.00 price target for the company. Jefferies Financial Group increased their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a report on Tuesday. Robert W. Baird started coverage on shares of The Cigna Group in a report on Thursday, May 30th. They issued an “outperform” rating and a $388.00 target price for the company. Baird R W raised shares of The Cigna Group to a “strong-buy” rating in a report on Thursday, May 30th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $384.00 target price on shares of The Cigna Group in a report on Monday, September 9th. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $392.79.

Insider Buying and Selling

In related news, insider Brian C. Evanko sold 4,795 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $345.01, for a total value of $1,654,322.95. Following the completion of the sale, the insider now directly owns 39,923 shares in the company, valued at $13,773,834.23. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the stock in a transaction 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 in the company, valued at $6,010,264.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Brian C. Evanko sold 4,795 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $345.01, for a total value of $1,654,322.95. Following the completion of 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. 0.60% of the stock is owned by corporate insiders.

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.