UniSuper Management Pty Ltd Buys 4,323 Shares of The Cigna Group (NYSE:CI)

UniSuper Management Pty Ltd grew its stake in The Cigna Group (NYSE:CI) by 175.9% in the first quarter, HoldingsChannel reports. The fund owned 6,780 shares of the health services provider’s stock after acquiring an additional 4,323 shares during the period. UniSuper Management Pty Ltd’s holdings in The Cigna Group were worth $2,462,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake 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 during the last quarter. Sanders Capital LLC raised its stake 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 during the last quarter. Norges Bank bought a new position in shares of The Cigna Group in the fourth quarter worth about $1,006,348,000. Parnassus Investments LLC raised its stake in shares of The Cigna Group by 5.0% in the fourth quarter. Parnassus Investments LLC now owns 2,682,061 shares of the health services provider’s stock worth $803,143,000 after acquiring an additional 126,598 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of The Cigna Group by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,978,465 shares of the health services provider’s stock worth $592,451,000 after acquiring an additional 53,414 shares during the last quarter. 86.99% of the stock is owned by institutional investors.

The Cigna Group Trading Up 1.8 %

NYSE CI traded up $6.04 during trading on Wednesday, reaching $342.21. 1,029,806 shares of the stock traded hands, compared to its average volume of 1,572,595. The firm has a market cap of $97.21 billion, a price-to-earnings ratio of 27.88, a price-to-earnings-growth ratio of 1.02 and a beta of 0.52. The stock’s 50-day moving average price is $334.86 and its 200 day moving average price is $337.21. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.75. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $365.71.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share for the quarter, beating 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 net margin of 1.76% and a return on equity of 17.24%. The business’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.41 earnings per share. Analysts predict that The Cigna Group will post 28.47 EPS for the current year.

The Cigna Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.64%. The Cigna Group’s dividend payout ratio is presently 45.98%.

Insider Transactions at The Cigna Group

In other news, Director Elder Granger sold 547 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $331.38, for a total value of $181,264.86. Following the sale, the director now owns 5,471 shares of the company’s stock, valued at $1,812,979.98. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Brian C. Evanko sold 4,795 shares of the business’s stock in a transaction 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 owns 39,923 shares of the company’s stock, valued at $13,773,834.23. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Elder Granger sold 547 shares of the company’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $331.38, for a total transaction of $181,264.86. Following the sale, the director now directly owns 5,471 shares in the company, valued at $1,812,979.98. The disclosure for this sale can be found here. Insiders have sold a total of 22,988 shares of company stock valued at $7,975,726 over the last 90 days. 0.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CI shares. Piper Sandler started coverage on shares of The Cigna Group in a research note on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 target price for the company. JPMorgan Chase & Co. lifted their price target on shares of The Cigna Group from $432.00 to $435.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a research report on Wednesday, July 10th. Baird R W upgraded shares of The Cigna Group to a “strong-buy” rating in a research report on Thursday, May 30th. Finally, Oppenheimer lifted their price target on shares of The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $376.20.

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.