Focus Financial Network Inc. Buys 34 Shares of The Cigna Group (NYSE:CI)

Focus Financial Network Inc. increased its stake in shares of The Cigna Group (NYSE:CI) by 2.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,217 shares of the health services provider’s stock after acquiring an additional 34 shares during the quarter. Focus Financial Network Inc.’s holdings in The Cigna Group were worth $419,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Norges Bank acquired a new stake in The Cigna Group in the fourth quarter valued at approximately $1,006,348,000. Vanguard Group Inc. increased its stake in The Cigna Group by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 26,793,138 shares of the health services provider’s stock valued at $9,731,000,000 after purchasing an additional 2,017,333 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings 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 worth $5,208,593,000 after buying an additional 867,180 shares during the last quarter. Focused Investors Fund L P bought a new position in shares of The Cigna Group in the first quarter valued at $205,529,000. Finally, Swedbank AB acquired a new position in shares of The Cigna Group during the first quarter valued at about $161,300,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Stock Performance

Shares of CI traded down $1.35 during trading hours on Wednesday, hitting $341.25. The company’s stock had a trading volume of 164,574 shares, compared to its average volume of 1,546,520. The business has a 50 day simple moving average of $335.31 and a two-hundred day simple moving average of $341.73. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $365.71. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.71 and a quick ratio of 0.71. The company has a market cap of $96.94 billion, a price-to-earnings ratio of 28.21, a PEG ratio of 1.02 and a beta of 0.52.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, beating 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 company had revenue of $60.52 billion during the quarter, compared to analysts’ expectations of $58.30 billion. During the same period in the previous year, the business earned $6.13 earnings per share. The firm’s quarterly revenue was up 24.6% compared to the same quarter last year. On average, equities analysts expect that The Cigna Group will post 28.4 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

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

Analyst Ratings Changes

Several equities analysts recently weighed in on CI shares. Baird R W raised shares of The Cigna Group to a “strong-buy” rating in a research report on Thursday, May 30th. Barclays lifted their target price on The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Piper Sandler began coverage on shares of The Cigna Group in a report on Wednesday, June 26th. They set an “overweight” rating and a $400.00 price objective on the stock. Finally, Oppenheimer increased their target price on shares of The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $384.86.

Insider Buying and Selling at The Cigna Group

In other news, Director Elder Granger sold 1,000 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $338.08, for a total value of $338,080.00. Following the transaction, the director now owns 5,471 shares of the company’s stock, valued at $1,849,635.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Elder Granger sold 1,000 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $338.08, for a total transaction of $338,080.00. Following the completion of the transaction, the director now owns 5,471 shares of the company’s stock, valued at $1,849,635.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 completion of the sale, the insider now directly owns 39,923 shares in the company, valued at $13,773,834.23. The disclosure for this sale can be found here. Insiders sold a total of 6,342 shares of company stock valued at $2,173,668 in the last three months. Company insiders own 0.60% of the company’s stock.

The Cigna Group 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.