AMF Tjanstepension AB Trims Position in The Cigna Group (NYSE:CI)

AMF Tjanstepension AB trimmed its stake in The Cigna Group (NYSE:CI) by 34.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 74,698 shares of the health services provider’s stock after selling 38,670 shares during the period. AMF Tjanstepension AB’s holdings in The Cigna Group were worth $27,145,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in CI. Fortitude Family Office LLC bought a new position in The Cigna Group in the fourth quarter worth approximately $29,000. VisionPoint Advisory Group LLC grew its position in shares of The Cigna Group by 112.2% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock worth $30,000 after buying an additional 55 shares in the last quarter. Raleigh Capital Management Inc. increased its stake in shares of The Cigna Group by 69.5% during the fourth quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock valued at $30,000 after buying an additional 41 shares during the period. Pineridge Advisors LLC bought a new stake in shares of The Cigna Group in the fourth quarter valued at about $37,000. Finally, Pacifica Partners Inc. lifted its stake in The Cigna Group by 73.2% in the fourth quarter. Pacifica Partners Inc. now owns 142 shares of the health services provider’s stock worth $43,000 after acquiring an additional 60 shares during the period. 86.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Piper Sandler initiated coverage on shares of The Cigna Group in a research report on Wednesday. They set an “overweight” rating and a $400.00 target price on the stock. Robert W. Baird assumed coverage on The Cigna Group in a report on Thursday, May 30th. They set an “outperform” rating and a $388.00 target price for the company. Barclays began coverage on The Cigna Group in a report on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 price target on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a research note on Wednesday, June 12th. Finally, StockNews.com downgraded The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 12th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $376.20.

Insider Buying and Selling

In other The Cigna Group news, Director Elder Granger sold 547 shares of The Cigna Group stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $331.38, for a total transaction of $181,264.86. Following the completion of the transaction, the director now owns 5,471 shares in the company, valued at approximately $1,812,979.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Brian C. Evanko sold 4,795 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $345.01, for a total value of $1,654,322.95. Following the completion of the transaction, the insider now directly owns 39,923 shares in the company, valued at approximately $13,773,834.23. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Elder Granger sold 547 shares of the firm’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $331.38, for a total transaction of $181,264.86. Following the sale, the director now owns 5,471 shares in the company, valued at approximately $1,812,979.98. The disclosure for this sale can be found here. Insiders sold a total of 22,988 shares of company stock valued at $7,975,726 over the last 90 days. Insiders own 0.60% of the company’s stock.

The Cigna Group Stock Performance

Shares of NYSE CI traded down $3.84 during mid-day trading on Friday, hitting $330.31. The stock had a trading volume of 2,645,258 shares, compared to its average volume of 1,622,902. The firm has a market cap of $93.83 billion, a PE ratio of 27.12, a PEG ratio of 1.03 and a beta of 0.53. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.71 and a current ratio of 0.71. The company has a 50 day moving average of $341.23 and a two-hundred day moving average of $332.90. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $365.71.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, May 2nd. The health services provider reported $6.47 earnings per share for the quarter, beating analysts’ consensus estimates of $6.17 by $0.30. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The business had revenue of $57.25 billion for the quarter, compared to analyst estimates of $56.59 billion. During the same period in the prior year, the company earned $5.41 earnings per share. The company’s revenue was up 23.2% on a year-over-year basis. Research analysts predict that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th were paid a $1.40 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.70%. The Cigna Group’s payout ratio is currently 45.98%.

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.