Several institutional investors have recently adjusted their holdings in The Cigna Group. Scotia Capital increased its shares by 13.4%, owning 2,045 shares worth $612,000 after buying 242 more. Campbell & CO raised their stake by 26.1% to 3,159 shares valued at $946,000, acquiring 653 additional shares. Jones Financial boosted its holdings by 12.1%, owning 1,317 shares now worth $394,000 after gaining 142 shares. CIBC Private Wealth Group added 1.8%, owning 70,145 shares valued at $21 million after sourcing 1,268 additional shares. Lastly, Tower Research Capital raised its investment by 221.7% to 38,256 shares worth $11.5 million, buying 26,364 more. Institutional investors hold 86.99% of the stock.
Insiders’ Transactions
In related news, Director William J. Delaney III sold 2,691 shares on August 19 at an average price of $342.68, totaling $922,151.88. He now owns 17,539 shares valued at $6 million. This was disclosed in an SEC filing. Insiders own 0.60% of the stock.
Analyst Ratings
CI has received various ratings. Stephens has an overweight rating with a price target of $410. Piper Sandler also rates it overweight at $400. StockNews.com upgraded it to strong-buy. Barclays set a new target of $405 while maintaining an overweight rating. Royal Bank of Canada has an outperform rating with a target of $384. Currently, theres one hold, thirteen buy, and two strong buy ratings, resulting in an average rating of Buy and a target of $392.79.
Cigna Group Stock Overview
As of Thursday, shares of NYSE:CI were priced at $340.64. The stock has a 50-day average of $348.58 and a 200-day average of $345.22. The 12-month range is $253.95 to $370.83. Essential ratios include a current ratio of 0.71, debt-to-equity of 0.73, market cap of $96.77 billion, and a PE ratio of 27.97.
The Cigna Group announced quarterly earnings on August 1, reporting $6.72 EPS, surpassing the estimate of $6.42. They recorded revenue of $60.52 billion, exceeding predictions of $58.30 billion, marking a 24.6% year-over-year increase.
Dividend Announcement
The Cigna Group recently paid a quarterly dividend of $1.40 on September 19 to shareholders recorded on September 4, marking an annual yield of 1.64%. Their current payout ratio is 45.98%.
About The Cigna Group
The Cigna Group offers insurance and health services in the U.S., with its Evernorth Health Services segment providing a variety of health solutions, including pharmacy benefits.
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