IFM Investors Pty Ltd Has $20.29 Million Position in The Cigna Group (NYSE:CI)

IFM Investors Pty Ltd cut its position in The Cigna Group (NYSE:CI) by 0.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 58,568 shares of the health services provider’s stock after selling 201 shares during the period. IFM Investors Pty Ltd’s holdings in The Cigna Group were worth $20,290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Cedar Wealth Management LLC acquired a new position in shares of The Cigna Group during the first quarter worth $29,000. TruNorth Capital Management LLC bought a new position in shares of The Cigna Group in the second quarter valued at approximately $33,000. Ulland Investment Advisors LLC boosted its holdings in The Cigna Group by 2,500.0% during the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after acquiring an additional 100 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of The Cigna Group in the second quarter valued at about $66,000. Finally, Private Ocean LLC lifted its position in shares of The Cigna Group by 29.9% during the second quarter. Private Ocean LLC now owns 200 shares of the health services provider’s stock valued at $66,000 after purchasing an additional 46 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Stock Up 0.9 %

NYSE CI traded up $2.82 during trading on Thursday, hitting $320.39. The company’s stock had a trading volume of 445,509 shares, compared to its average volume of 1,496,301. The business’s 50 day simple moving average is $349.85 and its 200-day simple moving average is $343.40. The company has a market cap of $91.01 billion, a PE ratio of 26.24, a P/E/G ratio of 1.05 and a beta of 0.50. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.71 and a quick ratio of 0.71. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $370.83.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, topping 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 company had revenue of $60.52 billion for the quarter, compared to the consensus estimate of $58.30 billion. During the same period last year, the firm earned $6.13 EPS. The firm’s revenue for the quarter was up 24.6% compared to the same quarter last year. On average, equities analysts anticipate that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.75%. The Cigna Group’s dividend payout ratio (DPR) is presently 45.98%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Piper Sandler began coverage on The Cigna Group in a research report on Wednesday, June 26th. They set an “overweight” rating and a $400.00 price target for the company. Barclays upped their price target on shares of The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a research note on Wednesday. Stephens restated an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a research report on Friday, August 2nd. Finally, StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $392.79.

Insider Buying and Selling at The Cigna Group

In other news, Director William J. Delaney III sold 2,691 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $342.68, for a total transaction of $922,151.88. Following the transaction, the director now directly owns 17,539 shares in the company, valued at $6,010,264.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.60% of the company’s stock.

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.