Swedbank AB Boosts Position in The Cigna Group (NYSE:CI)

Swedbank AB boosted its holdings in The Cigna Group (NYSE:CI) by 26.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 570,283 shares of the health services provider’s stock after buying an additional 119,681 shares during the period. Swedbank AB owned approximately 0.20% of The Cigna Group worth $197,569,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Capital Asset Advisory Services LLC lifted its holdings in shares of The Cigna Group by 2.3% during the first quarter. Capital Asset Advisory Services LLC now owns 1,280 shares of the health services provider’s stock worth $464,000 after buying an additional 29 shares during the last quarter. Checchi Capital Advisers LLC increased its position in shares of The Cigna Group by 0.9% during the second quarter. Checchi Capital Advisers LLC now owns 3,584 shares of the health services provider’s stock valued at $1,185,000 after purchasing an additional 31 shares during the period. Benjamin F. Edwards & Company Inc. increased its position in shares of The Cigna Group by 1.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,206 shares of the health services provider’s stock valued at $729,000 after purchasing an additional 31 shares during the period. Capital Advisors Ltd. LLC increased its position in shares of The Cigna Group by 10.6% during the first quarter. Capital Advisors Ltd. LLC now owns 335 shares of the health services provider’s stock valued at $122,000 after purchasing an additional 32 shares during the period. Finally, Capital Investment Advisors LLC increased its position in shares of The Cigna Group by 2.9% during the second quarter. Capital Investment Advisors LLC now owns 1,122 shares of the health services provider’s stock valued at $371,000 after purchasing an additional 32 shares during the period. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Trading Down 0.6 %

Shares of CI traded down $2.05 during trading hours on Tuesday, hitting $349.40. 749,898 shares of the stock traded hands, compared to its average volume of 1,473,871. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73. The Cigna Group has a 1-year low of $253.95 and a 1-year high of $370.83. The firm has a market capitalization of $99.26 billion, a PE ratio of 28.85, a price-to-earnings-growth ratio of 1.05 and a beta of 0.50. The business has a fifty day moving average of $349.32 and a 200-day moving average of $344.56.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, beating the consensus estimate of $6.42 by $0.30. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The firm had revenue of $60.52 billion for the quarter, compared to analyst estimates of $58.30 billion. During the same quarter in the prior year, the firm posted $6.13 earnings per share. The company’s quarterly revenue was up 24.6% on a year-over-year basis. Analysts expect that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, September 4th were issued a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.60%. The Cigna Group’s dividend payout ratio (DPR) is currently 45.98%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CI. JPMorgan Chase & Co. boosted their price objective on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a research report on Tuesday, October 1st. Piper Sandler assumed coverage on The Cigna Group in a research report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 price target on the stock. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Finally, Stephens reiterated an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, The Cigna Group currently has an average rating of “Buy” and an average price target of $392.79.

Insiders Place Their Bets

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the stock in a transaction dated 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate 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.