Humankind Investments LLC grew its stake in The Cigna Group (NYSE:CI – Free Report) by 80.2% during the second quarter, Holdings Channel.com reports. The fund owned 3,030 shares of the health services provider’s stock after purchasing an additional 1,349 shares during the quarter. Humankind Investments LLC’s holdings in The Cigna Group were worth $257,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Kalos Management Inc. purchased a new stake in The Cigna Group in the first quarter worth about $27,000. MBM Wealth Consultants LLC bought a new position in shares of The Cigna Group during the fourth quarter valued at approximately $36,000. Activest Wealth Management purchased a new position in The Cigna Group during the second quarter valued at approximately $34,000. McClarren Financial Advisors Inc. boosted its position in The Cigna Group by 672.2% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 139 shares of the health services provider’s stock valued at $39,000 after acquiring an additional 121 shares in the last quarter. Finally, Archer Investment Corp increased its holdings in shares of The Cigna Group by 1,038.5% in the 2nd quarter. Archer Investment Corp now owns 148 shares of the health services provider’s stock valued at $42,000 after acquiring an additional 135 shares during the period. Institutional investors own 85.32% of the company’s stock.
Wall Street Analysts Forecast Growth
CI has been the subject of several analyst reports. Raymond James increased their price target on shares of The Cigna Group from $310.00 to $330.00 and gave the company a “strong-buy” rating in a research report on Monday, August 7th. Bank of America upped their price target on shares of The Cigna Group from $320.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, August 4th. Royal Bank of Canada raised their target price on The Cigna Group from $300.00 to $327.00 and gave the stock a “sector perform” rating in a research note on Friday, November 3rd. Sanford C. Bernstein increased their price objective on The Cigna Group from $326.00 to $330.00 in a report on Tuesday, October 10th. Finally, Edward Jones lowered shares of The Cigna Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. Five research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $336.40.
The Cigna Group Price Performance
CI stock opened at $289.97 on Wednesday. The business has a 50 day simple moving average of $294.79 and a 200-day simple moving average of $280.77. The firm has a market capitalization of $84.85 billion, a PE ratio of 16.35, a price-to-earnings-growth ratio of 1.06 and a beta of 0.65. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.71. The Cigna Group has a 1 year low of $240.50 and a 1 year high of $340.11.
The Cigna Group (NYSE:CI – Get Free Report) last released its quarterly earnings data on Thursday, November 2nd. The health services provider reported $6.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.68 by $0.09. The firm had revenue of $49.05 billion during the quarter, compared to analysts’ expectations of $48.14 billion. The Cigna Group had a net margin of 2.79% and a return on equity of 12.62%. The Cigna Group’s revenue was up 8.3% compared to the same quarter last year. During the same period last year, the business earned $6.04 earnings per share. Equities research analysts anticipate that The Cigna Group will post 24.82 earnings per share for the current fiscal year.
The Cigna Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Investors of record on Wednesday, December 6th will be given a $1.23 dividend. The ex-dividend date is Tuesday, December 5th. This represents a $4.92 annualized dividend and a yield of 1.70%. The Cigna Group’s payout ratio is 27.75%.
Insider Buying and Selling at The Cigna Group
In related news, EVP Cynthia Ryan sold 3,768 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $282.22, for a total transaction 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 approximately $1,553,056.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Cynthia Ryan sold 3,768 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 5,503 shares in the company, valued at approximately $1,553,056.66. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Nicole S. Jones sold 7,819 shares of The Cigna Group stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $276.86, for a total transaction of $2,164,768.34. Following the completion of the sale, the executive vice president now owns 30,069 shares of the company’s stock, valued at approximately $8,324,903.34. The disclosure for this sale can be found here. Company insiders own 0.60% of the company’s stock.
About The Cigna Group
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.
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