AustralianSuper Pty Ltd Buys 1,068 Shares of The Cigna Group (NYSE:CI)

AustralianSuper Pty Ltd grew its stake in The Cigna Group (NYSE:CI) by 10.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,647 shares of the health services provider’s stock after buying an additional 1,068 shares during the quarter. AustralianSuper Pty Ltd’s holdings in The Cigna Group were worth $4,035,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in CI. Cedar Wealth Management LLC bought a new position in shares of The Cigna Group in the first quarter worth approximately $29,000. TruNorth Capital Management LLC bought a new position in The Cigna Group in the 2nd quarter worth $33,000. Ulland Investment Advisors LLC increased its stake in The Cigna Group by 2,500.0% in the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after buying an additional 100 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in The Cigna Group during the second quarter valued at about $66,000. Finally, Private Ocean LLC lifted its position in shares of The Cigna Group by 29.9% in the second quarter. Private Ocean LLC now owns 200 shares of the health services provider’s stock valued at $66,000 after acquiring an additional 46 shares in the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CI has been the topic of several recent analyst reports. Barclays lifted their target price on The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Royal Bank of Canada restated an “outperform” rating and set a $384.00 target price on shares of The Cigna Group in a research report on Monday, September 9th. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a report on Wednesday, October 23rd. Finally, Stephens reaffirmed an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a research note on Friday, August 2nd. One 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 data from MarketBeat.com, The Cigna Group presently has an average rating of “Buy” and a consensus target price of $392.79.

The Cigna Group Stock Up 0.6 %

Shares of NYSE CI opened at $314.91 on Friday. The stock has a market capitalization of $89.46 billion, a PE ratio of 25.85, a price-to-earnings-growth ratio of 1.05 and a beta of 0.50. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73. The Cigna Group has a 12-month low of $253.95 and a 12-month high of $370.83. The stock’s fifty day simple moving average is $346.52 and its two-hundred day simple moving average is $341.77.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $58.30 billion. During the same quarter in the previous year, the firm earned $6.13 earnings per share. The firm’s quarterly revenue was up 24.6% compared to the same quarter last year. As a group, analysts expect that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be paid a dividend of $1.40 per share. The ex-dividend date is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.78%. The Cigna Group’s payout ratio is 45.98%.

Insiders Place Their Bets

In other news, Director William J. Delaney III sold 2,691 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $342.68, for a total transaction of $922,151.88. Following the sale, the director now directly owns 17,539 shares of the company’s stock, valued at $6,010,264.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.60% 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.