Mutual of America Capital Management LLC Grows Stake in The Cigna Group (NYSE:CI)

Mutual of America Capital Management LLC grew its position in shares of The Cigna Group (NYSE:CI) by 2.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,895 shares of the health services provider’s stock after purchasing an additional 902 shares during the period. Mutual of America Capital Management LLC’s holdings in The Cigna Group were worth $14,510,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Virtu Financial LLC purchased a new position in shares of The Cigna Group during the 2nd quarter valued at $4,067,000. Moors & Cabot Inc. grew its position in shares of The Cigna Group by 0.7% during the 2nd quarter. Moors & Cabot Inc. now owns 9,926 shares of the health services provider’s stock valued at $3,281,000 after purchasing an additional 73 shares in the last quarter. Lmcg Investments LLC grew its position in shares of The Cigna Group by 4.0% during the 2nd quarter. Lmcg Investments LLC now owns 20,159 shares of the health services provider’s stock valued at $6,664,000 after purchasing an additional 768 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of The Cigna Group by 425.9% during the 2nd quarter. Renaissance Technologies LLC now owns 169,659 shares of the health services provider’s stock valued at $56,084,000 after purchasing an additional 137,400 shares in the last quarter. Finally, Citizens Financial Group Inc. RI grew its position in shares of The Cigna Group by 9.4% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 8,649 shares of the health services provider’s stock valued at $2,859,000 after purchasing an additional 743 shares in the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CI. Barclays boosted their price target on shares of The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. upped their price objective on shares of The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Stephens reaffirmed an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a research note on Friday, August 2nd. Baird R W raised shares of The Cigna Group to a “strong-buy” rating in a research note on Thursday, May 30th. Finally, StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, The Cigna Group presently has a consensus rating of “Buy” and an average price target of $392.79.

Insider Activity

In other news, Director William J. Delaney III sold 2,691 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $342.68, for a total transaction of $922,151.88. Following the sale, the director now owns 17,539 shares in the company, valued at $6,010,264.52. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, Director William J. Delaney III sold 2,691 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $342.68, for a total transaction of $922,151.88. Following the transaction, the director now owns 17,539 shares in the company, valued at $6,010,264.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Brian C. Evanko sold 4,795 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the transaction, the insider now owns 39,923 shares in the company, valued at approximately $13,773,834.23. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.

The Cigna Group Price Performance

Shares of CI opened at $356.21 on Wednesday. The stock has a market cap of $101.19 billion, a PE ratio of 29.25, a price-to-earnings-growth ratio of 1.09 and a beta of 0.50. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current 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 firm’s 50-day simple moving average is $345.60 and its two-hundred day simple moving average is $344.67.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, topping analysts’ consensus estimates of $6.42 by $0.30. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The business had revenue of $60.52 billion for the quarter, compared to analysts’ expectations of $58.30 billion. During the same quarter in the prior year, the company earned $6.13 earnings per share. The business’s revenue was up 24.6% compared to the same quarter last year. Analysts anticipate that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date is Wednesday, September 4th. The Cigna Group’s payout ratio is 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.