Mediolanum International Funds Ltd Raises Stock Holdings in The Cigna Group (NYSE:CI)

Mediolanum International Funds Ltd grew its stake in The Cigna Group (NYSE:CI) by 0.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,659 shares of the health services provider’s stock after acquiring an additional 35 shares during the quarter. Mediolanum International Funds Ltd’s holdings in The Cigna Group were worth $10,642,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Ballentine Partners LLC lifted its position in shares of The Cigna Group by 9.8% in the third quarter. Ballentine Partners LLC now owns 7,726 shares of the health services provider’s stock valued at $2,677,000 after acquiring an additional 691 shares in the last quarter. Busey Bank lifted its position in shares of The Cigna Group by 3.1% in the third quarter. Busey Bank now owns 52,708 shares of the health services provider’s stock valued at $18,260,000 after acquiring an additional 1,607 shares in the last quarter. Mainstay Capital Management LLC ADV purchased a new stake in shares of The Cigna Group in the third quarter valued at $206,000. Mount Yale Investment Advisors LLC lifted its position in shares of The Cigna Group by 2.5% in the third quarter. Mount Yale Investment Advisors LLC now owns 1,733 shares of the health services provider’s stock valued at $600,000 after acquiring an additional 42 shares in the last quarter. Finally, Harvey Investment Co. LLC purchased a new position in The Cigna Group during the third quarter worth about $206,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the firm’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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.60% of the stock is owned by insiders.

The Cigna Group Price Performance

CI stock opened at $316.78 on Friday. 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 Cigna Group has a 1 year low of $253.95 and a 1 year high of $370.83. The firm has a market cap of $89.99 billion, a P/E ratio of 26.01, a price-to-earnings-growth ratio of 1.05 and a beta of 0.50. The stock has a 50-day simple moving average of $349.48 and a 200-day simple moving average of $343.22.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $58.30 billion. During the same quarter last year, the firm earned $6.13 earnings per share. The company’s revenue for the quarter was up 24.6% compared to the same quarter last year. On average, equities analysts predict 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 announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be paid a $1.40 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.77%. The Cigna Group’s dividend payout ratio (DPR) is currently 45.98%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CI. JPMorgan Chase & Co. increased their target price on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Jefferies Financial Group increased their target price on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a research report on Wednesday. Barclays increased their target price on The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $392.79.

About The Cigna Group

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.