Swedbank AB Buys 119,681 Shares of The Cigna Group (NYSE:CI)

Swedbank AB raised its stake in The Cigna Group (NYSE:CI) by 26.6% in the third quarter, Holdings Channel reports. The firm owned 570,283 shares of the health services provider’s stock after acquiring an additional 119,681 shares during the quarter. Swedbank AB’s holdings in The Cigna Group were worth $197,569,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of CI. Vanguard Group Inc. lifted its position in shares of The Cigna Group by 8.1% in the first quarter. Vanguard Group Inc. now owns 26,793,138 shares of the health services provider’s stock valued at $9,731,000,000 after buying an additional 2,017,333 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of The Cigna Group by 6.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,341,233 shares of the health services provider’s stock worth $5,208,593,000 after acquiring an additional 867,180 shares during the period. AQR Capital Management LLC boosted its stake in shares of The Cigna Group by 63.4% during the 2nd quarter. AQR Capital Management LLC now owns 1,547,245 shares of the health services provider’s stock worth $510,467,000 after acquiring an additional 600,215 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of The Cigna Group by 23.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,138,193 shares of the health services provider’s stock worth $706,822,000 after acquiring an additional 405,694 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of The Cigna Group by 145.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 683,361 shares of the health services provider’s stock worth $225,899,000 after acquiring an additional 404,791 shares during the period. 86.99% of the stock is currently owned by institutional investors.

Insider Activity

In other 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 owns 17,539 shares of the company’s stock, valued at approximately $6,010,264.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.60% of the company’s stock.

The Cigna Group Price Performance

CI traded down $2.05 on Tuesday, reaching $349.40. The stock had a trading volume of 749,898 shares, compared to its average volume of 1,473,871. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $370.83. The firm has a 50-day moving average of $349.32 and a 200-day moving average of $344.56. 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 company has a market capitalization of $99.26 billion, a price-to-earnings ratio of 28.85, a price-to-earnings-growth ratio of 1.05 and a beta of 0.50.

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

The Cigna Group Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on CI. Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a research note on Tuesday, October 1st. Jefferies Financial Group boosted their price target on The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Piper Sandler began coverage on The Cigna Group in a research note on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 price target for the company. Royal Bank of Canada restated an “outperform” rating and issued a $384.00 price target on shares of The Cigna Group in a research note on Monday, September 9th. Finally, StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $392.79.

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.