The Cigna Group (NYSE:CI) Shares Bought by National Pension Service

National Pension Service boosted its position in shares of The Cigna Group (NYSE:CI) by 13.4% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 619,117 shares of the health services provider’s stock after acquiring an additional 73,027 shares during the quarter. National Pension Service owned about 0.22% of The Cigna Group worth $214,487,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Intact Investment Management Inc. acquired a new stake in The Cigna Group during the 3rd quarter worth about $69,000. Lansing Street Advisors acquired a new stake in The Cigna Group during the 3rd quarter worth about $297,000. Angeles Wealth Management LLC lifted its position in The Cigna Group by 30.2% during the 3rd quarter. Angeles Wealth Management LLC now owns 1,418 shares of the health services provider’s stock worth $491,000 after acquiring an additional 329 shares during the period. Van ECK Associates Corp lifted its holdings in shares of The Cigna Group by 1.8% in the 3rd quarter. Van ECK Associates Corp now owns 15,137 shares of the health services provider’s stock valued at $4,807,000 after buying an additional 265 shares during the period. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of The Cigna Group in the 3rd quarter valued at about $45,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Price Performance

NYSE:CI opened at $316.80 on Monday. The Cigna Group has a 12 month low of $253.95 and a 12 month high of $370.83. The stock has a 50 day moving average of $345.77 and a two-hundred day moving average of $341.48. The company has a current ratio of 0.72, a quick ratio of 0.71 and a debt-to-equity ratio of 0.71. The firm has a market cap of $88.56 billion, a P/E ratio of 29.86, a price-to-earnings-growth ratio of 0.95 and a beta of 0.51.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, topping the consensus estimate of $7.22 by $0.29. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The company had revenue of $63.70 billion during the quarter, compared to analyst estimates of $59.58 billion. During the same period in the previous year, the business earned $6.77 EPS. The Cigna Group’s quarterly revenue was up 29.8% on a year-over-year basis. On average, analysts expect that The Cigna Group will post 28.48 earnings per share 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. Stockholders of record on Wednesday, December 4th will be given a $1.40 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.77%. The Cigna Group’s dividend payout ratio (DPR) is presently 52.83%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CI. Barclays boosted their price objective on The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a report on Wednesday, October 23rd. Jefferies Financial Group boosted their price objective on The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Royal Bank of Canada decreased their price objective on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a report on Friday. Finally, Stephens reissued an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a report on Friday. One 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 company’s stock. According to data from MarketBeat.com, The Cigna Group currently has an average rating of “Buy” and a consensus target price of $392.29.

Insider Activity

In other news, Director William J. Delaney III sold 2,691 shares of the company’s stock in a transaction that occurred 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 Securities & Exchange Commission, which is available at this link. Company 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.