Simplify Asset Management Inc. Purchases 16,045 Shares of The Cigna Group (NYSE:CI)

Simplify Asset Management Inc. grew its holdings in shares of The Cigna Group (NYSE:CI) by 328.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 20,933 shares of the health services provider’s stock after buying an additional 16,045 shares during the quarter. The Cigna Group accounts for about 0.3% of Simplify Asset Management Inc.’s investment portfolio, making the stock its 28th biggest position. Simplify Asset Management Inc.’s holdings in The Cigna Group were worth $7,252,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CI. Vanguard Group Inc. grew its position in shares of The Cigna Group by 8.1% in 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 buying an additional 2,017,333 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings 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 valued at $5,208,593,000 after buying an additional 867,180 shares during the last quarter. AQR Capital Management LLC increased its position in shares of The Cigna Group by 63.4% in 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 period. Swedbank AB acquired a new stake in The Cigna Group during the 1st quarter worth about $161,300,000. Finally, Ameriprise Financial Inc. grew its stake in The Cigna Group by 23.4% during 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 purchasing an additional 405,694 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Insider Buying and Selling

In other news, Director William J. Delaney III sold 2,691 shares of the business’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 sale, the director now owns 17,539 shares of the company’s stock, valued at $6,010,264.52. The trade was a 13.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.60% of the stock is currently owned by corporate insiders.

The Cigna Group Stock Down 1.9 %

NYSE CI traded down $6.01 during trading on Friday, reaching $317.87. 331,996 shares of the company’s stock were exchanged, compared to its average volume of 1,539,596. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $370.83. The stock has a market cap of $88.42 billion, a P/E ratio of 30.36, a price-to-earnings-growth ratio of 1.00 and a beta of 0.51. The company has a 50 day moving average price of $339.52 and a two-hundred day moving average price of $339.91.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, beating the consensus estimate of $7.22 by $0.29. The business had revenue of $63.70 billion during the quarter, compared to the consensus estimate of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The business’s quarterly revenue was up 29.8% on a year-over-year basis. During the same period in the previous year, the business earned $6.77 EPS. On average, equities research analysts anticipate that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors 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 1.76%. The Cigna Group’s dividend payout ratio (DPR) is presently 52.83%.

Analyst Upgrades and Downgrades

Several analysts recently commented on CI shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a report on Wednesday, October 23rd. Royal Bank of Canada decreased their price objective on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Barclays raised their target price on The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. increased their price objective 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. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $394.00 target price (up previously from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $394.64.

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.