Fulcrum Asset Management LLP raised its stake in Cigna Group (NYSE:CI – Free Report) by 127.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 14,846 shares of the health services provider’s stock after purchasing an additional 8,316 shares during the quarter. Fulcrum Asset Management LLP’s holdings in Cigna Group were worth $4,087,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. lifted its stake in Cigna Group by 3.7% during the second quarter. BlackRock Inc. now owns 23,438,250 shares of the health services provider’s stock worth $6,461,457,000 after purchasing an additional 840,098 shares during the last quarter. GQG Partners LLC purchased a new position in shares of Cigna Group during the 2nd quarter valued at about $1,628,918,000. Bank of America Corp DE raised its holdings in shares of Cigna Group by 8.8% during the 1st quarter. Bank of America Corp DE now owns 3,182,083 shares of the health services provider’s stock valued at $848,821,000 after buying an additional 256,677 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Cigna Group by 10.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,426,218 shares of the health services provider’s stock worth $647,008,000 after buying an additional 236,340 shares during the last quarter. Finally, Legal & General Group Plc bought a new stake in Cigna Group in the 2nd quarter worth approximately $542,779,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.
Cigna Group Trading Up 0.6%
Shares of CI stock opened at $295.37 on Tuesday. The stock has a market capitalization of $78.05 billion, a PE ratio of 13.04, a P/E/G ratio of 1.03 and a beta of 0.25. Cigna Group has a 1-year low of $256.52 and a 1-year high of $318.05. The business has a 50-day moving average of $286.14 and a 200 day moving average of $282.27. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.76 and a quick ratio of 0.76.
Cigna Group (NYSE:CI – Get Free Report) last announced its quarterly earnings results on Thursday, November 5th. The health services provider reported $7.98 EPS for the quarter, topping analysts’ consensus estimates of $7.52 by $0.46. Cigna Group had a return on equity of 19.75% and a net margin of 2.27%. The business had revenue of $73.79 billion for the quarter, compared to analysts’ expectations of $72.64 billion. During the same period in the previous year, the firm earned $7.83 EPS. The business’s quarterly revenue was up 5.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Cigna Group will post 30.62 earnings per share for the current year.
Cigna Group Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Thursday, December 3rd will be issued a $1.56 dividend. The ex-dividend date is Thursday, December 3rd. This represents a $6.24 annualized dividend and a dividend yield of 2.1%. Cigna Group’s dividend payout ratio (DPR) is currently 27.54%.
Analyst Upgrades and Downgrades
Several analysts have issued reports on CI shares. Robert W. Baird set a $362.00 target price on Cigna Group in a research note on Friday, July 31st. UBS Group reissued a “buy” rating on shares of Cigna Group in a research note on Thursday, October 1st. Weiss Ratings restated a “hold (c)” rating on shares of Cigna Group in a report on Thursday, August 27th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Cigna Group in a research note on Friday, October 2nd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $340.00 target price on shares of Cigna Group in a report on Friday. Fourteen investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $336.20.
View Our Latest Stock Report on Cigna Group
Insider Buying and Selling at Cigna Group
In other Cigna Group news, insider Nicole S. Jones sold 2,677 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $279.61, for a total transaction of $748,515.97. Following the completion of the sale, the insider owned 25,880 shares of the company’s stock, valued at $7,236,306.80. This represents a 9.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 in the company, valued at approximately $1,435,304.65. This trade represents a 10.88% 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. 0.60% of the stock is owned by insiders.
Cigna Group Company Profile
The Cigna Group is a global health services company that provides health insurance and related services through its Cigna Healthcare and Evernorth Health Services businesses. Cigna Healthcare offers medical, dental, behavioral health and other coverage and services to employers, individuals and government-program members.
Evernorth provides pharmacy benefit management, specialty pharmacy, care delivery and other health services. Its offerings include prescription drug benefits and services for people with complex or chronic conditions.
The company serves customers in the United States and select international markets.
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