The Cigna Group (NYSE:CI) Shares Bought by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd boosted its stake in shares of The Cigna Group (NYSE:CI) by 175.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,780 shares of the health services provider’s stock after buying an additional 4,323 shares during the quarter. UniSuper Management Pty Ltd’s holdings in The Cigna Group were worth $2,462,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in The Cigna Group by 8.1% during the first quarter. Vanguard Group Inc. now owns 26,793,138 shares of the health services provider’s stock worth $9,731,000,000 after buying an additional 2,017,333 shares during the period. Sanders Capital LLC grew its position in shares of The Cigna Group by 1.3% in the fourth quarter. Sanders Capital LLC now owns 7,727,729 shares of the health services provider’s stock valued at $2,314,068,000 after purchasing an additional 97,277 shares during the last quarter. Norges Bank acquired a new stake in shares of The Cigna Group in the fourth quarter valued at approximately $1,006,348,000. Parnassus Investments LLC grew its position in shares of The Cigna Group by 5.0% in the fourth quarter. Parnassus Investments LLC now owns 2,682,061 shares of the health services provider’s stock valued at $803,143,000 after purchasing an additional 126,598 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of The Cigna Group by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,978,465 shares of the health services provider’s stock valued at $592,451,000 after purchasing an additional 53,414 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Oppenheimer increased their price target on shares of The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Robert W. Baird assumed coverage on shares of The Cigna Group in a research report on Thursday, May 30th. They issued an “outperform” rating and a $388.00 price target on the stock. JPMorgan Chase & Co. increased their price target on shares of The Cigna Group from $432.00 to $435.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a research note on Wednesday, July 10th. Finally, StockNews.com downgraded shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $376.20.

The Cigna Group Trading Up 1.8 %

Shares of CI stock traded up $6.04 during mid-day trading on Wednesday, reaching $342.21. The company’s stock had a trading volume of 1,029,806 shares, compared to its average volume of 1,572,595. The company’s 50 day simple moving average is $334.86 and its 200-day simple moving average is $337.21. The Cigna Group has a 12-month low of $253.95 and a 12-month high of $365.71. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $97.21 billion, a PE ratio of 27.88, a price-to-earnings-growth ratio of 1.02 and a beta of 0.52.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, beating 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 business had revenue of $57.25 billion for the quarter, compared to the consensus estimate of $56.59 billion. During the same quarter last year, the firm posted $5.41 EPS. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. On average, research analysts predict that The Cigna Group will post 28.47 EPS 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. Investors 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 yield of 1.64%. The Cigna Group’s payout ratio is 45.98%.

Insider Activity at The Cigna Group

In related news, insider Noelle K. Eder sold 10,700 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $348.47, for a total transaction of $3,728,629.00. Following the completion of the sale, the insider now directly owns 15,824 shares of the company’s stock, valued at approximately $5,514,189.28. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $348.71, for a total transaction of $2,073,429.66. Following the completion of the transaction, the senior vice president now directly owns 2,595 shares of the company’s stock, valued at approximately $904,902.45. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Noelle K. Eder sold 10,700 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $348.47, for a total transaction of $3,728,629.00. Following the transaction, the insider now directly owns 15,824 shares of the company’s stock, valued at $5,514,189.28. The disclosure for this sale can be found here. In the last three months, insiders sold 22,988 shares of company stock valued at $7,975,726. 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.