Mediolanum International Funds Ltd Purchases Shares of 31,679 The Cigna Group (NYSE:CI)

Mediolanum International Funds Ltd acquired a new stake in The Cigna Group (NYSE:CI) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 31,679 shares of the health services provider’s stock, valued at approximately $11,510,000.

A number of other hedge funds have also made changes to their positions in CI. Silicon Valley Capital Partners raised its position in The Cigna Group by 100.0% in the first quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock worth $25,000 after acquiring an additional 35 shares in the last quarter. Fortitude Family Office LLC purchased a new position in The Cigna Group in the 4th quarter valued at about $29,000. VisionPoint Advisory Group LLC raised its holdings in The Cigna Group by 112.2% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock valued at $30,000 after acquiring an additional 55 shares during the last quarter. Raleigh Capital Management Inc. boosted its position in shares of The Cigna Group by 69.5% in the fourth quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock worth $30,000 after acquiring an additional 41 shares during the last quarter. Finally, Pineridge Advisors LLC acquired a new stake in shares of The Cigna Group during the 4th quarter worth $37,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Analyst Ratings Changes

CI has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price target on The Cigna Group from $432.00 to $435.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a report on Wednesday. Baird R W raised The Cigna Group to a “strong-buy” rating in a report on Thursday, May 30th. Piper Sandler initiated coverage on shares of The Cigna Group in a research report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 price target for the company. Finally, StockNews.com downgraded The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 12th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $376.20.

Insider Activity at The Cigna Group

In other news, Director Elder Granger sold 1,000 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $338.08, for a total value of $338,080.00. Following the completion of the sale, the director now owns 5,471 shares of the company’s stock, valued at approximately $1,849,635.68. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Elder Granger sold 1,000 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $338.08, for a total value of $338,080.00. Following the sale, the director now owns 5,471 shares in the company, valued at approximately $1,849,635.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Brian C. Evanko sold 4,795 shares of The Cigna Group stock in a transaction on Monday, June 24th. The stock was sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the transaction, the insider now directly owns 39,923 shares of the company’s stock, valued at $13,773,834.23. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,988 shares of company stock worth $7,975,726. 0.70% of the stock is currently owned by company insiders.

The Cigna Group Stock Performance

Shares of The Cigna Group stock traded up $1.46 during midday trading on Wednesday, hitting $329.83. The company had a trading volume of 1,981,980 shares, compared to its average volume of 1,613,051. The business’s 50 day simple moving average is $337.09 and its two-hundred day simple moving average is $334.86. The stock has a market cap of $93.69 billion, a PE ratio of 27.04, a P/E/G ratio of 0.99 and a beta of 0.52. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.71 and a quick ratio of 0.71. The Cigna Group has a 1-year low of $253.95 and a 1-year high of $365.71.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, topping analysts’ consensus estimates of $6.17 by $0.30. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The firm had revenue of $57.25 billion during the quarter, compared to analysts’ expectations of $56.59 billion. During the same quarter last year, the company earned $5.41 earnings per share. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. As a group, equities analysts predict that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th were given a dividend of $1.40 per share. The ex-dividend date was Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.70%. The Cigna Group’s payout ratio is presently 45.98%.

The Cigna Group 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.