Horizon Investment Services LLC Has $2.45 Million Stake in The Cigna Group (NYSE:CI)

Horizon Investment Services LLC grew its stake in The Cigna Group (NYSE:CI) by 17.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,406 shares of the health services provider’s stock after purchasing an additional 1,092 shares during the period. Horizon Investment Services LLC’s holdings in The Cigna Group were worth $2,448,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in 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 purchasing an additional 2,017,333 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings 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 valued at $5,208,593,000 after buying an additional 867,180 shares during the last quarter. Sanders Capital LLC lifted its position in The Cigna Group by 1.3% during the 4th quarter. Sanders Capital LLC now owns 7,727,729 shares of the health services provider’s stock worth $2,314,068,000 after buying an additional 97,277 shares in the last quarter. Norges Bank bought a new stake in The Cigna Group during the 4th quarter worth about $1,006,348,000. Finally, Parnassus Investments LLC increased its position in The Cigna Group by 5.0% in 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 acquiring an additional 126,598 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at The Cigna Group

In other The Cigna Group news, Director Elder Granger sold 547 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 5,471 shares of the company’s stock, valued at approximately $1,812,979.98. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other The Cigna Group news, Director Elder Granger sold 547 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 5,471 shares of the company’s stock, valued at approximately $1,812,979.98. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Brian C. Evanko sold 4,795 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was 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 in the company, valued at approximately $13,773,834.23. The disclosure for this sale can be found here. In the last three months, insiders sold 9,033 shares of company stock worth $3,095,820. 0.60% of the stock is owned by company insiders.

The Cigna Group Stock Performance

Shares of CI stock opened at $355.24 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a market cap of $100.91 billion, a PE ratio of 29.17, a price-to-earnings-growth ratio of 1.10 and a beta of 0.52. The stock has a 50-day moving average of $340.15 and a 200-day moving average of $343.51. The Cigna Group has a one year low of $253.95 and a one year high of $370.64.

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 company had revenue of $60.52 billion during the quarter, compared to analysts’ expectations of $58.30 billion. During the same period in the prior year, the business posted $6.13 EPS. The Cigna Group’s revenue was up 24.6% on a year-over-year basis. As a group, sell-side analysts expect that The Cigna Group will post 28.5 earnings per share 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. Investors of record on Wednesday, September 4th will be given a $1.40 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.58%. The Cigna Group’s dividend payout ratio is presently 45.98%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CI shares. Baird R W raised shares of The Cigna Group to a “strong-buy” rating in a research note on Thursday, May 30th. Barclays boosted their price objective on The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Stephens reissued an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a report on Friday, August 2nd. Robert W. Baird started coverage on The Cigna Group in a report on Thursday, May 30th. They set an “outperform” rating and a $388.00 price objective for the company. Finally, StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $384.86.

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.