Assenagon Asset Management S.A. Grows Holdings in The Cigna Group (NYSE:CI)

Assenagon Asset Management S.A. boosted its position in shares of The Cigna Group (NYSE:CI) by 286.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 392,673 shares of the health services provider’s stock after acquiring an additional 290,968 shares during the period. Assenagon Asset Management S.A. owned 0.14% of The Cigna Group worth $129,806,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in The Cigna Group during the 4th quarter valued at approximately $1,006,348,000. Vanguard Group Inc. boosted its position in shares of The Cigna Group by 8.1% during the first quarter. Vanguard Group Inc. now owns 26,793,138 shares of the health services provider’s stock worth $9,731,000,000 after acquiring an additional 2,017,333 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in 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 valued at $5,208,593,000 after acquiring an additional 867,180 shares in the last quarter. Focused Investors Fund L P bought a new stake in The Cigna Group in the 1st quarter valued at $205,529,000. Finally, Swedbank AB purchased a new stake in The Cigna Group in the 1st quarter worth $161,300,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Insider Transactions at The Cigna Group

In other news, insider Brian C. Evanko sold 4,795 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the transaction, the insider now directly owns 39,923 shares of the company’s stock, valued at $13,773,834.23. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other The Cigna Group news, insider Brian C. Evanko sold 4,795 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $345.01, for a total value of $1,654,322.95. Following the completion of the sale, the insider now directly owns 39,923 shares in the company, valued at approximately $13,773,834.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Elder Granger sold 547 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $331.38, for a total value of $181,264.86. Following the transaction, the director now directly owns 5,471 shares in the company, valued at approximately $1,812,979.98. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,342 shares of company stock worth $2,173,668. Insiders own 0.60% of the company’s stock.

The Cigna Group Trading Up 1.7 %

The Cigna Group stock traded up $5.62 during midday trading on Friday, reaching $342.32. The stock had a trading volume of 863,634 shares, compared to its average volume of 1,563,398. 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 firm has a market cap of $97.24 billion, a price-to-earnings ratio of 28.11, a price-to-earnings-growth ratio of 1.02 and a beta of 0.52. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $365.71. The company has a fifty day moving average of $335.15 and a 200 day moving average of $340.77.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $60.52 billion for the quarter, compared to the consensus estimate of $58.30 billion. During the same period in the prior year, the business posted $6.13 earnings per share. The company’s revenue for the quarter was up 24.6% on a year-over-year basis. On average, analysts anticipate that The Cigna Group will post 28.4 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date is Wednesday, September 4th. The Cigna Group’s dividend payout ratio is currently 45.98%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Stephens restated an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a research report on Friday, August 2nd. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a report on Wednesday, July 10th. Oppenheimer upped their price objective on The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Robert W. Baird initiated coverage on shares of The Cigna Group in a report on Thursday, May 30th. They issued an “outperform” rating and a $388.00 target price for the company. Finally, StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Two equities research analysts have 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. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $384.64.

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.