IFG Advisors LLC Raises Stock Holdings in The Cigna Group (NYSE:CI)

IFG Advisors LLC lifted its holdings in shares of The Cigna Group (NYSE:CI) by 4.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 699 shares of the health services provider’s stock after acquiring an additional 31 shares during the period. IFG Advisors LLC’s holdings in The Cigna Group were worth $242,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Vanguard Group Inc. grew its position in The Cigna Group by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 26,793,138 shares of the health services provider’s stock worth $9,731,000,000 after purchasing 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 first 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 buying an additional 867,180 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of The Cigna Group by 6.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,628,807 shares of the health services provider’s stock worth $869,078,000 after buying an additional 150,765 shares during the last quarter. Ameriprise Financial Inc. increased its position in The Cigna Group by 23.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,138,193 shares of the health services provider’s stock valued at $706,822,000 after acquiring an additional 405,694 shares during the period. Finally, AQR Capital Management LLC raised its stake in 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 valued at $510,467,000 after acquiring an additional 600,215 shares during the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction dated 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 approximately $6,010,264.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.60% of the company’s stock.

The Cigna Group Trading Down 4.8 %

Shares of CI stock opened at $336.00 on Friday. The stock has a market cap of $95.45 billion, a P/E ratio of 27.59, a P/E/G ratio of 1.05 and a beta of 0.50. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.73. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $370.83. The business has a fifty day simple moving average of $350.66 and a 200-day simple moving average of $344.42.

The Cigna Group (NYSE:CI) last announced 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 company had revenue of $60.52 billion during the quarter, compared to analysts’ expectations of $58.30 billion. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The firm’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.13 earnings per share. On average, analysts forecast that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, September 4th were given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend was Wednesday, September 4th. The Cigna Group’s payout ratio is 45.98%.

Analyst Ratings Changes

Several research analysts have weighed in on CI shares. JPMorgan Chase & Co. lifted their target price on 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 reissued an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a research note on Friday, August 2nd. Piper Sandler began coverage on shares of The Cigna Group in a research report on Wednesday, June 26th. They set an “overweight” rating and a $400.00 price objective for the company. Barclays lifted their target price on shares of The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, The Cigna Group presently has a consensus rating of “Buy” and an average price target of $392.79.

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.