Livforsakringsbolaget Skandia Omsesidigt Purchases 7,800 Shares of The Cigna Group (NYSE:CI)

Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of The Cigna Group (NYSE:CI) by 27.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 35,717 shares of the health services provider’s stock after purchasing an additional 7,800 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in The Cigna Group were worth $12,373,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. D L Carlson Investment Group Inc. acquired a new position in The Cigna Group in the fourth quarter valued at about $2,849,000. FIL Ltd raised its position in shares of The Cigna Group by 0.5% in the 4th quarter. FIL Ltd now owns 874,042 shares of the health services provider’s stock valued at $261,732,000 after acquiring an additional 4,746 shares during the period. V Square Quantitative Management LLC raised its position in shares of The Cigna Group by 46.9% in the 4th quarter. V Square Quantitative Management LLC now owns 4,006 shares of the health services provider’s stock valued at $1,200,000 after acquiring an additional 1,279 shares during the period. Raleigh Capital Management Inc. boosted its stake in The Cigna Group by 69.5% during the 4th quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock worth $30,000 after acquiring an additional 41 shares during the last quarter. Finally, Beacon Financial Group acquired a new position in The Cigna Group during the fourth quarter valued at approximately $775,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at The Cigna Group

In related news, Director William J. Delaney III sold 2,691 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $342.68, for a total value of $922,151.88. Following the completion of the sale, the director now directly owns 17,539 shares in the company, valued at $6,010,264.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have weighed in on CI. Royal Bank of Canada reiterated an “outperform” rating and set a $384.00 target price on shares of The Cigna Group in a report on Monday, September 9th. Piper Sandler started coverage on The Cigna Group in a research report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 price objective for the company. StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Barclays upped their price target on shares of The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. raised their price objective on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $392.79.

The Cigna Group Stock Down 0.1 %

Shares of CI opened at $350.30 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.71. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $370.83. The stock has a market capitalization of $97.93 billion, a price-to-earnings ratio of 27.56, a PEG ratio of 1.05 and a beta of 0.50. The stock has a fifty day moving average of $348.81 and a 200-day moving average of $344.86.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 EPS for the quarter, beating analysts’ consensus estimates of $6.42 by $0.30. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The firm had revenue of $60.52 billion for the quarter, compared to analyst estimates of $58.30 billion. During the same period last year, the firm posted $6.13 earnings per share. The business’s revenue for the quarter was up 24.6% on a year-over-year basis. As a group, sell-side analysts anticipate that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th were paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend was Wednesday, September 4th. The Cigna Group’s payout ratio is currently 44.06%.

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.