Great West Life Assurance Co. Can Has $125.45 Million Stock Position in The Cigna Group (NYSE:CI)

Great West Life Assurance Co. Can lifted its position in The Cigna Group (NYSE:CI) by 6.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 444,842 shares of the health services provider’s stock after buying an additional 26,826 shares during the quarter. Great West Life Assurance Co. Can’s holdings in The Cigna Group were worth $125,446,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Kalos Management Inc. acquired a new position in The Cigna Group during the 1st quarter valued at $27,000. Activest Wealth Management acquired a new position in The Cigna Group during the 2nd quarter valued at $34,000. MBM Wealth Consultants LLC acquired a new position in The Cigna Group during the 4th quarter valued at $36,000. McClarren Financial Advisors Inc. raised its stake 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 purchasing an additional 121 shares during the last quarter. Finally, Fairfield Bush & CO. acquired a new position in The Cigna Group during the 1st quarter valued at $40,000. 85.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 3rd. Wells Fargo & Company boosted their price target on shares of The Cigna Group from $284.00 to $300.00 in a report on Wednesday, August 9th. Edward Jones lowered shares of The Cigna Group from a “buy” rating to a “hold” rating in a report on Thursday, August 17th. Bank of America boosted their price target on shares of The Cigna Group from $320.00 to $350.00 and gave the company a “buy” rating in a report on Friday, August 4th. Finally, Raymond James boosted 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 report on Monday, August 7th. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $336.40.

The Cigna Group Price Performance

Shares of CI traded up $0.32 during trading hours on Friday, hitting $282.56. The stock had a trading volume of 1,517,505 shares, compared to its average volume of 1,602,673. The company’s fifty day moving average is $294.98 and its two-hundred day moving average is $281.20. 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 52 week low of $240.50 and a 52 week high of $340.11. The stock has a market capitalization of $82.68 billion, a price-to-earnings ratio of 15.94, a P/E/G ratio of 1.02 and a beta of 0.65.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results 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 business had revenue of $49.05 billion for the quarter, compared to the consensus estimate of $48.14 billion. The Cigna Group had a net margin of 2.79% and a return on equity of 12.62%. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.04 EPS. On average, analysts anticipate that The Cigna Group will post 24.82 EPS for the current year.

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 21st. Investors of record on Wednesday, December 6th will be given a dividend of $1.23 per share. The ex-dividend date is Tuesday, December 5th. This represents a $4.92 annualized dividend and a yield of 1.74%. The Cigna Group’s dividend payout ratio (DPR) is 27.75%.

Insider Buying and Selling

In related news, EVP Nicole S. Jones sold 7,819 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 30,069 shares in the company, valued at approximately $8,324,903.34. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other The Cigna Group news, EVP Cynthia Ryan sold 3,768 shares of the company’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $282.22, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Nicole S. Jones sold 7,819 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 30,069 shares in the company, valued at $8,324,903.34. The disclosure for this sale can be found here. 0.60% of the stock is owned by corporate insiders.

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.