The Cigna Group (NYSE:CI) Shares Sold by Bellevue Group AG

Bellevue Group AG decreased its stake in shares of The Cigna Group (NYSE:CI) by 10.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 79,645 shares of the health services provider’s stock after selling 8,825 shares during the period. Bellevue Group AG’s holdings in The Cigna Group were worth $28,926,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of The Cigna Group by 8.1% in the first quarter. Vanguard Group Inc. now owns 26,793,138 shares of the health services provider’s stock worth $9,731,000,000 after acquiring an additional 2,017,333 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of The Cigna Group by 6.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,341,233 shares of the health services provider’s stock worth $5,208,593,000 after acquiring an additional 867,180 shares in the last quarter. Sanders Capital LLC increased its position in shares of The Cigna Group by 1.3% in the fourth quarter. Sanders Capital LLC now owns 7,727,729 shares of the health services provider’s stock worth $2,314,068,000 after acquiring an additional 97,277 shares in the last quarter. Norges Bank acquired a new stake in shares of The Cigna Group in the fourth quarter worth $1,006,348,000. Finally, Parnassus Investments LLC grew its holdings in The Cigna Group by 5.0% during the 4th quarter. Parnassus Investments LLC now owns 2,682,061 shares of the health services provider’s stock valued at $803,143,000 after purchasing an additional 126,598 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Price Performance

Shares of CI stock traded up $2.49 during midday trading on Friday, reaching $343.64. 1,135,664 shares of the company were exchanged, compared to its average volume of 1,195,868. 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 $97.62 billion, a P/E ratio of 28.21, a PEG ratio of 1.05 and a beta of 0.52. The company’s 50 day moving average price is $334.97 and its two-hundred day moving average price is $337.86. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.71 and a current ratio of 0.71.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, topping analysts’ consensus estimates of $6.17 by $0.30. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The company had revenue of $57.25 billion for the quarter, compared to the consensus estimate of $56.59 billion. During the same period in the previous year, the firm earned $5.41 EPS. The Cigna Group’s revenue was up 23.2% on a year-over-year basis. On average, sell-side analysts expect that The Cigna Group will post 28.47 earnings per share for the current year.

The Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Wednesday, September 4th will be issued a $1.40 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.63%. The Cigna Group’s payout ratio is currently 45.98%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CI. JPMorgan Chase & Co. raised their price target on shares of The Cigna Group from $432.00 to $435.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Piper Sandler began coverage on shares of The Cigna Group in a report on Wednesday, June 26th. They set an “overweight” rating and a $400.00 price target for the company. Oppenheimer raised their price target on shares of The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Robert W. Baird started coverage on shares of The Cigna Group in a report on Thursday, May 30th. They set an “outperform” rating and a $388.00 price target for the company. Finally, Baird R W upgraded shares of The Cigna Group to a “strong-buy” rating in a research note on Thursday, May 30th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $376.20.

Insider Buying and Selling

In related news, insider Brian C. Evanko sold 4,795 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $345.01, for a total value of $1,654,322.95. Following the sale, the insider now directly owns 39,923 shares in the company, valued at approximately $13,773,834.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Brian C. Evanko sold 4,795 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the sale, the insider now owns 39,923 shares in the company, valued at $13,773,834.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Elder Granger sold 547 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $331.38, for a total transaction of $181,264.86. Following the sale, the director now owns 5,471 shares in the company, valued at approximately $1,812,979.98. The disclosure for this sale can be found here. Insiders have sold 22,988 shares of company stock worth $7,975,726 in the last ninety days. 0.60% of the stock is currently owned by corporate insiders.

The Cigna Group 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.