MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Has $5.74 Million Stake in The Cigna Group (NYSE:CI)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH cut its holdings in The Cigna Group (NYSE:CI) by 12.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,791 shares of the health services provider’s stock after selling 2,282 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in The Cigna Group were worth $5,735,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC acquired a new position in shares of The Cigna Group in the 4th quarter valued at $29,000. Raleigh Capital Management Inc. boosted its holdings in The Cigna Group by 69.5% during the fourth quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock valued at $30,000 after purchasing an additional 41 shares in the last quarter. VisionPoint Advisory Group LLC grew its stake in shares of The Cigna Group by 112.2% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock valued at $30,000 after purchasing an additional 55 shares during the period. Pineridge Advisors LLC acquired a new position in shares of The Cigna Group in the 4th quarter worth approximately $37,000. Finally, Pacifica Partners Inc. boosted its stake in The Cigna Group by 73.2% in the 4th quarter. Pacifica Partners Inc. now owns 142 shares of the health services provider’s stock valued at $43,000 after buying an additional 60 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Morgan Stanley reissued an “overweight” rating and issued a $392.00 target price (up from $382.00) on shares of The Cigna Group in a report on Monday, March 4th. JPMorgan Chase & Co. raised their price objective on shares of The Cigna Group from $432.00 to $435.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Oppenheimer boosted their target price on shares of The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a report on Wednesday, June 12th. Finally, Baird R W raised The Cigna Group to a “strong-buy” rating in a report on Thursday, May 30th. Two investment 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. According to data from MarketBeat, The Cigna Group has an average rating of “Buy” and a consensus target price of $376.20.

The Cigna Group Stock Down 0.1 %

CI stock traded down $0.36 during trading hours on Tuesday, reaching $325.91. 1,055,980 shares of the stock were exchanged, compared to its average volume of 1,616,524. The firm’s 50-day moving average is $340.69 and its 200-day moving average is $333.60. The Cigna Group has a 12 month low of $253.95 and a 12 month high of $365.71. The company has a market cap of $92.58 billion, a price-to-earnings ratio of 26.73, a PEG ratio of 1.01 and a beta of 0.52. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.71 and a quick ratio of 0.71.

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

The Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Tuesday, June 4th were issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend was Tuesday, June 4th. The Cigna Group’s payout ratio is 45.98%.

Insider Activity at The Cigna Group

In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $348.71, for a total transaction of $2,073,429.66. Following the sale, the senior vice president now directly owns 2,595 shares of the company’s stock, valued at approximately $904,902.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of The Cigna Group stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $348.71, for a total value of $2,073,429.66. Following the completion of the transaction, the senior vice president now owns 2,595 shares of the company’s stock, valued at approximately $904,902.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Noelle K. Eder sold 10,700 shares of The Cigna Group stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $348.47, for a total transaction of $3,728,629.00. Following the sale, the insider now directly owns 15,824 shares of the company’s stock, valued at approximately $5,514,189.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,988 shares of company stock valued at $7,975,726. Corporate insiders own 0.70% of the company’s stock.

The Cigna Group Company Profile

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.