BI Asset Management Fondsmaeglerselskab A S Has $6.81 Million Position in The Cigna Group (NYSE:CI)

BI Asset Management Fondsmaeglerselskab A S trimmed its holdings in The Cigna Group (NYSE:CIFree Report) by 48.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,753 shares of the health services provider’s stock after selling 17,499 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in The Cigna Group were worth $6,811,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Silicon Valley Capital Partners raised its holdings in shares of The Cigna Group by 100.0% during the first quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock valued at $25,000 after purchasing an additional 35 shares during the period. Fortitude Family Office LLC acquired a new position in The Cigna Group during the 4th quarter worth approximately $29,000. VisionPoint Advisory Group LLC boosted its holdings in The Cigna Group by 112.2% in the third quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock worth $30,000 after acquiring an additional 55 shares in the last quarter. Raleigh Capital Management Inc. grew its stake in The Cigna Group by 69.5% in the fourth quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock valued at $30,000 after acquiring an additional 41 shares during the period. Finally, Pineridge Advisors LLC acquired a new stake in The Cigna Group in the fourth quarter valued at approximately $37,000. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Performance

NYSE CI traded up $2.39 during trading hours on Wednesday, reaching $330.76. 342,621 shares of the company were exchanged, compared to its average volume of 1,600,184. The stock has a market capitalization of $93.96 billion, a P/E ratio of 27.04, a P/E/G ratio of 0.99 and a beta of 0.52. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.75. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $365.71. The business’s 50 day simple moving average is $337.09 and its 200-day simple moving average is $334.86.

The Cigna Group (NYSE:CIGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, beating the consensus estimate of $6.17 by $0.30. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The business had revenue of $57.25 billion for the quarter, compared to the consensus estimate of $56.59 billion. During the same quarter in the prior year, the business earned $5.41 earnings per share. The Cigna Group’s revenue for the quarter was up 23.2% on a year-over-year basis. On average, equities research analysts expect that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th were paid a dividend of $1.40 per share. The ex-dividend date was Tuesday, June 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.69%. The Cigna Group’s payout ratio is 45.98%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CI shares. Piper Sandler started coverage on The Cigna Group in a report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 target price on the stock. JPMorgan Chase & Co. lifted their price objective on shares of The Cigna Group from $432.00 to $435.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. StockNews.com downgraded shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 12th. Baird R W raised shares of The Cigna Group to a “strong-buy” rating in a research report on Thursday, May 30th. Finally, Robert W. Baird initiated coverage on The Cigna Group in a report on Thursday, May 30th. They set an “outperform” rating and a $388.00 price objective for the company. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $376.20.

Read Our Latest Analysis on The Cigna Group

Insider Activity at The Cigna Group

In other The Cigna Group news, Director Elder Granger sold 547 shares of the stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $331.38, for a total transaction of $181,264.86. Following the completion of the transaction, the director now owns 5,471 shares in the company, valued at $1,812,979.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other The Cigna Group news, Director Elder Granger sold 547 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $331.38, for a total transaction of $181,264.86. Following the sale, the director now owns 5,471 shares in the company, valued at $1,812,979.98. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Brian C. Evanko sold 4,795 shares of The Cigna Group stock in a transaction 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 owns 39,923 shares of the company’s stock, valued at $13,773,834.23. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,988 shares of company stock worth $7,975,726. Company insiders own 0.70% of the company’s stock.

The Cigna Group Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for The Cigna Group (NYSE:CI)

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