E Fund Management Co. Ltd. bought a new position in shares of Cigna Group (NYSE:CI – Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,991 shares of the health services provider’s stock, valued at approximately $549,000.
Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Cigna Group by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 26,173,577 shares of the health services provider’s stock valued at $7,203,754,000 after purchasing an additional 414,834 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Cigna Group by 3.7% during the 2nd quarter. BlackRock Inc. now owns 23,438,250 shares of the health services provider’s stock worth $6,461,457,000 after buying an additional 840,098 shares during the last quarter. State Street Corp lifted its stake in shares of Cigna Group by 1.8% during the 4th quarter. State Street Corp now owns 12,339,250 shares of the health services provider’s stock worth $3,396,132,000 after buying an additional 224,122 shares during the last quarter. Dodge & Cox boosted its holdings in shares of 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 buying an additional 1,833,389 shares during the period. Finally, GQG Partners LLC grew 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 valued at $2,136,699,000 after buying an additional 972,302 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.
Cigna Group Price Performance
Shares of Cigna Group 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 stock has a market capitalization of $72.53 billion, a price-to-earnings ratio of 11.36, a price-to-earnings-growth ratio of 0.95 and a beta of 0.29. Cigna Group has a twelve month low of $239.51 and a twelve month high of $315.47. The company has a 50-day simple moving average of $284.63 and a two-hundred day simple moving average of $281.41.
Cigna Group Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Tuesday, September 8th will be given a dividend of $1.56 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $6.24 dividend on an annualized basis and a yield of 2.3%. Cigna Group’s dividend payout ratio is currently 25.82%.
Insiders Place Their Bets
In other Cigna Group news, insider Nicole S. Jones sold 19,436 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $276.27, for a total transaction of $5,369,583.72. Following the transaction, the insider owned 27,256 shares in the company, valued at $7,530,015.12. This trade represents a 41.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 on Friday, June 12th. The shares were sold at an average price of $298.61, for a total value of $268,450.39. Following the completion of the transaction, the chief accounting officer directly owned 2,368 shares of the company’s stock, valued at $707,108.48. This represents a 27.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 23,012 shares of company stock worth $6,386,550. Corporate insiders own 0.60% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on CI. Guggenheim increased their price target on shares of Cigna Group from $338.00 to $361.00 and gave the company a “buy” rating in a report on Friday, July 31st. Barclays upped their target price on Cigna Group from $304.00 to $310.00 and gave the company an “equal weight” rating in a research report on Friday, July 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of Cigna Group in a research note on Monday, June 1st. Robert W. Baird set a $362.00 price target on Cigna Group in a report on Friday, July 31st. Finally, Wall Street Zen downgraded Cigna Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Fifteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, Cigna Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $339.45.
Read Our Latest Research Report on Cigna Group
Cigna Group 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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