DnB Asset Management AS Has $36.06 Million Stock Position in The Cigna Group (NYSE:CI)

DnB Asset Management AS boosted its stake in The Cigna Group (NYSE:CI) by 0.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 128,504 shares of the health services provider’s stock after purchasing an additional 292 shares during the quarter. DnB Asset Management AS’s holdings in The Cigna Group were worth $36,058,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CI. Moneta Group Investment Advisors LLC boosted its holdings in shares of The Cigna Group by 154,255.6% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 11,954,841 shares of the health services provider’s stock valued at $3,961,117,000 after purchasing an additional 11,947,096 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of The Cigna Group by 22.7% during the 1st quarter. Ameriprise Financial Inc. now owns 4,346,293 shares of the health services provider’s stock worth $1,110,597,000 after buying an additional 804,805 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of The Cigna Group by 9.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,108,166 shares of the health services provider’s stock worth $862,423,000 after buying an additional 268,793 shares during the last quarter. Norges Bank acquired a new stake in The Cigna Group in the fourth quarter valued at about $963,542,000. Finally, Nordea Investment Management AB grew its position in The Cigna Group by 18.9% in the first quarter. Nordea Investment Management AB now owns 2,490,969 shares of the health services provider’s stock valued at $635,446,000 after acquiring an additional 396,176 shares during the last quarter. Institutional investors own 85.32% of the company’s stock.

The Cigna Group Trading Down 1.0 %

NYSE:CI traded down $2.83 on Thursday, reaching $282.38. 240,415 shares of the stock traded hands, compared to its average volume of 1,646,700. The firm has a market capitalization of $83.58 billion, a price-to-earnings ratio of 12.99, a price-to-earnings-growth ratio of 1.02 and a beta of 0.66. The Cigna Group has a 1-year low of $240.50 and a 1-year high of $340.11. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.62. The company’s 50 day moving average is $284.53 and its 200-day moving average is $271.40.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, August 3rd. The health services provider reported $6.13 earnings per share for the quarter, topping analysts’ consensus estimates of $5.98 by $0.15. The business had revenue of $48.59 billion during the quarter, compared to the consensus estimate of $47.24 billion. The Cigna Group had a net margin of 3.57% and a return on equity of 12.32%. The Cigna Group’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the firm earned $6.22 earnings per share. Equities research analysts anticipate that The Cigna Group will post 24.8 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 21st. Investors of record on Wednesday, September 6th will be given a dividend of $1.23 per share. The ex-dividend date is Tuesday, September 5th. This represents a $4.92 annualized dividend and a dividend yield of 1.74%. The Cigna Group’s payout ratio is 22.40%.

Insider Buying and Selling

In other The Cigna Group news, EVP Cynthia Ryan sold 3,768 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $282.22, for a total value of $1,063,404.96. Following the transaction, the executive vice president now directly owns 5,503 shares of the company’s stock, valued at $1,553,056.66. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Nicole S. Jones sold 7,819 shares of the firm’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $276.86, for a total value of $2,164,768.34. Following the completion of the sale, the executive vice president now directly owns 30,069 shares in the company, valued at approximately $8,324,903.34. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Cynthia Ryan sold 3,768 shares of the business’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $282.22, for a total value of $1,063,404.96. Following the completion of the sale, the executive vice president now directly owns 5,503 shares of the company’s stock, valued at $1,553,056.66. The disclosure for this sale can be found here. Insiders sold 39,767 shares of company stock valued at $11,498,468 over the last 90 days. Company insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Truist Financial dropped their target price on shares of The Cigna Group from $375.00 to $365.00 in a report on Tuesday, June 20th. Edward Jones downgraded shares of The Cigna Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 17th. Cantor Fitzgerald boosted their target price on shares of The Cigna Group from $292.00 to $310.00 and gave the stock a “neutral” rating in a research note on Thursday. Wells Fargo & Company upped their price target on shares of The Cigna Group from $284.00 to $300.00 in a report on Wednesday, August 9th. Finally, StockNews.com started coverage on The Cigna Group in a report on Thursday, August 17th. They set a “buy” rating on the stock. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $339.11.

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.