Jennison Associates LLC Grows Stock Position in The Cigna Group (NYSE:CI)

Jennison Associates LLC increased its position in The Cigna Group (NYSE:CI) by 28.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 727,561 shares of the health services provider’s stock after purchasing an additional 161,328 shares during the quarter. Jennison Associates LLC owned 0.25% of The Cigna Group worth $264,243,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in CI. Mutual of America Capital Management LLC increased its position in shares of The Cigna Group by 1.8% during the first quarter. Mutual of America Capital Management LLC now owns 42,993 shares of the health services provider’s stock worth $15,615,000 after acquiring an additional 743 shares during the last quarter. FinTrust Capital Advisors LLC raised its position in shares of The Cigna Group by 1.2% in the 1st quarter. FinTrust Capital Advisors LLC now owns 2,959 shares of the health services provider’s stock valued at $1,075,000 after purchasing an additional 35 shares in the last quarter. Wright Investors Service Inc. grew its position in shares of The Cigna Group by 46.9% during the first quarter. Wright Investors Service Inc. now owns 7,101 shares of the health services provider’s stock worth $2,579,000 after buying an additional 2,266 shares in the last quarter. Graypoint LLC increased its stake in shares of The Cigna Group by 16.8% in the first quarter. Graypoint LLC now owns 2,917 shares of the health services provider’s stock worth $1,059,000 after buying an additional 419 shares during the last quarter. Finally, Quent Capital LLC increased its stake in shares of The Cigna Group by 5.1% in the first quarter. Quent Capital LLC now owns 991 shares of the health services provider’s stock worth $360,000 after buying an additional 48 shares during the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Oppenheimer boosted their target price on shares of The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Baird R W raised The Cigna Group to a “strong-buy” rating in a report on Thursday, May 30th. JPMorgan Chase & Co. upped their price target on The Cigna Group from $432.00 to $435.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. StockNews.com downgraded shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 12th. Finally, Robert W. Baird began coverage on shares of The Cigna Group in a report on Thursday, May 30th. They set an “outperform” rating and a $388.00 target price on the stock. Two investment 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $376.20.

The Cigna Group Stock Performance

Shares of CI traded up $4.65 during trading hours on Monday, reaching $323.77. 1,753,480 shares of the company’s stock traded hands, compared to its average volume of 1,610,401. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $365.71. The business’s fifty day simple moving average is $337.67 and its two-hundred day simple moving average is $334.65. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market capitalization of $91.97 billion, a price-to-earnings ratio of 26.58, a P/E/G ratio of 0.97 and a beta of 0.52.

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

The Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th were given a $1.40 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.73%. The Cigna Group’s dividend payout ratio (DPR) is 45.98%.

Insider Buying and Selling at The Cigna Group

In other news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $348.71, for a total value of $2,073,429.66. Following the completion of the sale, the senior vice president now owns 2,595 shares in the company, valued at $904,902.45. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other The Cigna Group news, insider Brian C. Evanko sold 4,795 shares of The Cigna Group stock in a transaction that occurred 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 transaction, the insider now owns 39,923 shares in the company, valued at $13,773,834.23. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $348.71, for a total value of $2,073,429.66. Following the completion of the transaction, the senior vice president now directly owns 2,595 shares in the company, valued at approximately $904,902.45. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,988 shares of company stock valued at $7,975,726. 0.70% of the stock is owned by corporate insiders.

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.