Turtle Creek Wealth Advisors LLC boosted its position in Cigna Group (NYSE:CI – Free Report) by 5.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,746 shares of the health services provider’s stock after purchasing an additional 1,763 shares during the period. Turtle Creek Wealth Advisors LLC’s holdings in Cigna Group were worth $9,173,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. GQG Partners LLC acquired a new position in Cigna Group in the 2nd quarter worth approximately $1,628,918,000. Bank of America Corp DE acquired a new stake in Cigna Group during the 2nd quarter worth about $827,692,000. Legal & General Group Plc purchased a new stake in shares of Cigna Group in the second quarter worth approximately $542,779,000. The Manufacturers Life Insurance Company acquired a new position in Cigna Group in the 2nd quarter valued at approximately $241,312,000. Finally, BlackRock Inc. increased its stake in shares of Cigna Group by 3.7% in the second quarter. BlackRock Inc. now owns 23,438,250 shares of the health services provider’s stock worth $6,461,457,000 after acquiring an additional 840,098 shares during the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.
Cigna Group Price Performance
Shares of NYSE:CI traded up $8.68 during midday trading on Thursday, reaching $298.26. 642,958 shares of the company’s stock were exchanged, compared to its average volume of 1,666,098. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.76 and a current ratio of 0.76. The company’s 50 day simple moving average is $277.98 and its two-hundred day simple moving average is $281.41. Cigna Group has a 12 month low of $239.51 and a 12 month high of $311.34. The firm has a market capitalization of $78.81 billion, a PE ratio of 12.34, a price-to-earnings-growth ratio of 0.95 and a beta of 0.29.
Cigna Group Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 23rd. Stockholders of record on Tuesday, September 8th were issued a dividend of $1.56 per share. The ex-dividend date of this dividend was Tuesday, September 8th. This represents a $6.24 annualized dividend and a dividend yield of 2.1%. Cigna Group’s dividend payout ratio (DPR) is presently 25.82%.
Insider Activity at Cigna Group
In related news, insider Everett Neville sold 617 shares of the firm’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $284.05, for a total transaction of $175,258.85. Following the completion of the sale, the insider directly owned 5,053 shares of the company’s stock, valued at $1,435,304.65. This trade represents a 10.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Nicole Jones sold 19,436 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $276.27, for a total value of $5,369,583.72. Following the sale, the insider owned 27,256 shares in the company, valued at $7,530,015.12. The trade was a 41.63% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 22,730 shares of company stock worth $6,293,359 over the last three months. 0.60% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
CI has been the subject of a number of analyst reports. Evercore assumed coverage on shares of Cigna Group in a research report on Wednesday, September 9th. They issued an “in-line” rating and a $290.00 target price for the company. Robert W. Baird set a $362.00 target price on Cigna Group in a research report on Friday, July 31st. Barclays lifted their price target on shares of Cigna Group from $304.00 to $310.00 and gave the company an “equal weight” rating in a research report on Friday, July 31st. Guggenheim raised their price target on Cigna Group from $338.00 to $361.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Finally, Wall Street Zen raised Cigna Group from a “hold” rating to a “buy” rating in a report on Saturday, September 26th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, Cigna Group has a consensus rating of “Moderate Buy” and an average target price of $338.24.
Check Out Our Latest Research Report on CI
Cigna Group Company Profile
The Cigna Group (NYSE: CI) is a global health company that provides health care and related services to individuals, employers, government organizations and health plans. Its operations are primarily organized through Cigna Healthcare and Evernorth Health Services, which together address health coverage, pharmacy services, care delivery and benefit management.
Cigna Healthcare offers medical, dental, behavioral health, disability and other benefits, with a focus on employer-sponsored and individual health plans in the United States as well as international health services.
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