OneAscent Financial Services LLC purchased a new stake in shares of Cigna Group (NYSE:CI – Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,957 shares of the health services provider’s stock, valued at approximately $540,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new position in shares of Cigna Group in the fourth quarter valued at approximately $1,019,790,000. Northwestern Mutual Wealth Management Co. increased its holdings in Cigna Group by 13,333.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,165,408 shares of the health services provider’s stock worth $900,912,000 after acquiring an additional 3,141,844 shares during the period. Dodge & Cox increased its holdings in Cigna Group by 19.7% during the 4th quarter. Dodge & Cox now owns 11,138,614 shares of the health services provider’s stock worth $3,065,681,000 after acquiring an additional 1,833,389 shares during the period. Boston Partners lifted its stake in Cigna Group by 314.6% in the 4th quarter. Boston Partners now owns 1,638,191 shares of the health services provider’s stock worth $450,856,000 after purchasing an additional 1,243,056 shares in the last quarter. Finally, GQG Partners LLC lifted its stake in Cigna Group by 14.3% in the 4th quarter. GQG Partners LLC now owns 7,763,295 shares of the health services provider’s stock worth $2,136,699,000 after purchasing an additional 972,302 shares in the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.
Cigna Group Trading Down 1.1%
Shares of CI stock opened at $274.50 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.68. The business has a 50-day moving average price of $284.63 and a two-hundred day moving average price of $281.41. Cigna Group has a 12-month low of $239.51 and a 12-month high of $315.47. The firm has a market cap of $72.53 billion, a P/E ratio of 11.36, a price-to-earnings-growth ratio of 0.95 and a beta of 0.29.
Cigna Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Tuesday, September 8th will be given a $1.56 dividend. This represents a $6.24 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Tuesday, September 8th. Cigna Group’s dividend payout ratio (DPR) is currently 25.82%.
Insider Buying and Selling
In related news, insider Nicole S. Jones sold 2,677 shares of Cigna Group stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $279.61, for a total value of $748,515.97. Following the sale, the insider owned 25,880 shares in the company, valued at $7,236,306.80. The trade was a 9.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Jamie G. Kates sold 899 shares of Cigna Group stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $298.61, for a total transaction of $268,450.39. Following the sale, the chief accounting officer directly owned 2,368 shares in the company, valued at $707,108.48. The trade was a 27.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 23,012 shares of company stock worth $6,386,550. Corporate insiders own 0.60% of the company’s stock.
Analyst Ratings Changes
A number of research analysts have recently commented on the stock. Morgan Stanley boosted their price target on shares of Cigna Group from $355.00 to $361.00 and gave the company an “overweight” rating in a research report on Wednesday, May 20th. Wolfe Research reiterated an “outperform” rating and issued a $315.00 price objective on shares of Cigna Group in a research report on Tuesday, June 16th. Mizuho lifted their price objective on Cigna Group from $330.00 to $340.00 and gave the company an “outperform” rating in a research note on Monday, June 8th. Jefferies Financial Group cut Cigna Group from a “buy” rating to a “hold” rating and reduced their target price for the stock from $336.00 to $307.00 in a research report on Tuesday, August 4th. Finally, Wall Street Zen cut Cigna Group from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Fifteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, Cigna Group currently has a consensus rating of “Moderate Buy” and an average price target of $339.45.
View Our Latest Stock Analysis on Cigna Group
Cigna Group Company Profile
Cigna Group (NYSE: CI) is a global health services company that offers a broad portfolio of healthcare products and insurance solutions for individuals, employers, and governments. Its core businesses include medical and behavioral health plans, dental and vision coverage, pharmacy benefit management, and supplemental health products. Cigna serves a mix of commercial, Medicare, and Medicaid customers and provides workplace benefits such as group health plans and disability and life benefits for employers.
In addition to traditional insurance products, Cigna operates health services and care-delivery platforms designed to manage costs and improve outcomes.
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