CHB Investment Group LLC Invests $2.67 Million in The Cigna Group (NYSE:CI)

CHB Investment Group LLC purchased a new position in The Cigna Group (NYSE:CI) during the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 7,704 shares of the health services provider’s stock, valued at approximately $2,669,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CI. Van ECK Associates Corp lifted its holdings in The Cigna Group by 4.4% during the second quarter. Van ECK Associates Corp now owns 14,872 shares of the health services provider’s stock worth $4,916,000 after acquiring an additional 625 shares in the last quarter. Hancock Whitney Corp lifted its holdings in The Cigna Group by 75.6% during the first quarter. Hancock Whitney Corp now owns 3,783 shares of the health services provider’s stock worth $1,374,000 after acquiring an additional 1,629 shares in the last quarter. ORG Partners LLC bought a new position in The Cigna Group during the second quarter worth about $489,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in The Cigna Group by 21.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,453 shares of the health services provider’s stock worth $34,304,000 after acquiring an additional 16,846 shares in the last quarter. Finally, Tidal Investments LLC lifted its holdings in The Cigna Group by 36.0% during the first quarter. Tidal Investments LLC now owns 15,276 shares of the health services provider’s stock worth $5,548,000 after acquiring an additional 4,043 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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 completion of the sale, the director now owns 17,539 shares in the company, valued at $6,010,264.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Barclays lifted their target price on The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Jefferies Financial Group lifted 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. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a research note on Tuesday, October 1st. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Finally, Piper Sandler started coverage on The Cigna Group in a research note on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, The Cigna Group presently has a consensus rating of “Buy” and an average target price of $392.79.

The Cigna Group Trading Down 0.9 %

The Cigna Group stock opened at $350.05 on Friday. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $370.83. 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 stock has a market capitalization of $99.44 billion, a P/E ratio of 28.99, a PEG ratio of 1.05 and a beta of 0.50. The stock has a 50-day simple moving average of $350.67 and a 200 day simple moving average of $344.62.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $60.52 billion during the quarter, compared to analysts’ expectations of $58.30 billion. During the same quarter last year, the company posted $6.13 earnings per share. The Cigna Group’s quarterly revenue was up 24.6% on a year-over-year basis. Analysts expect that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Announces Dividend

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