Bridges Investment Management Inc. Buys Shares of 1,856 The Cigna Group (NYSE:CI)

Bridges Investment Management Inc. purchased a new stake in The Cigna Group (NYSE:CI) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,856 shares of the health services provider’s stock, valued at approximately $614,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Van ECK Associates Corp boosted its holdings in shares of The Cigna Group by 4.4% in the second quarter. Van ECK Associates Corp now owns 14,872 shares of the health services provider’s stock valued at $4,916,000 after buying an additional 625 shares during the period. TFO Wealth Partners LLC boosted its holdings in shares of The Cigna Group by 98,980.0% in the fourth quarter. TFO Wealth Partners LLC now owns 4,954 shares of the health services provider’s stock valued at $1,497,000 after buying an additional 4,949 shares during the period. Hancock Whitney Corp boosted its holdings in shares of The Cigna Group by 75.6% in the first quarter. Hancock Whitney Corp now owns 3,783 shares of the health services provider’s stock valued at $1,374,000 after buying an additional 1,629 shares during the period. Bank of Nova Scotia boosted its holdings in shares of The Cigna Group by 63.5% in the fourth quarter. Bank of Nova Scotia now owns 101,772 shares of the health services provider’s stock valued at $30,475,000 after buying an additional 39,530 shares during the period. Finally, ORG Partners LLC acquired a new position in shares of The Cigna Group in the second quarter valued at approximately $489,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Stephens restated an “overweight” rating and set a $410.00 target price on shares of The Cigna Group in a report on Friday, August 2nd. Baird R W upgraded shares of The Cigna Group to a “strong-buy” rating in a report on Thursday, May 30th. JPMorgan Chase & Co. increased their target price on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Barclays increased their target price 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. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a report on Monday, September 16th. One equities research 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 company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $392.79.

Insiders Place Their Bets

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 stock was sold at an average price of $342.68, for a total value 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 filing with the SEC, which is available at this link. In other news, insider Brian C. Evanko sold 4,795 shares of the business’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 completion of the transaction, the insider now directly owns 39,923 shares in the company, valued at approximately $13,773,834.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director William J. Delaney III sold 2,691 shares of the 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 owns 17,539 shares in the company, valued at approximately $6,010,264.52. The disclosure for this sale can be found here. Company insiders own 0.60% of the company’s stock.

The Cigna Group Trading Down 0.3 %

Shares of NYSE:CI opened at $356.14 on Friday. The stock has a market cap of $101.17 billion, a PE ratio of 29.24, a P/E/G ratio of 1.09 and a beta of 0.50. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.73. The Cigna Group has a 12-month low of $253.95 and a 12-month high of $370.83. The business has a 50 day moving average of $347.02 and a 200-day moving average of $345.05.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data 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 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 revenue for the quarter was up 24.6% on a year-over-year basis. During the same period in the prior year, the firm posted $6.13 EPS. As a group, equities research analysts forecast that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, September 4th were issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date was Wednesday, September 4th. The Cigna Group’s dividend payout ratio is currently 45.98%.

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.