The Cigna Group (NYSE:CI) Shares Bought by Swiss National Bank

Swiss National Bank boosted its stake in shares of The Cigna Group (NYSE:CI) by 0.4% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 843,101 shares of the health services provider’s stock after purchasing an additional 3,100 shares during the period. Swiss National Bank’s holdings in The Cigna Group were worth $292,084,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cedar Wealth Management LLC acquired a new stake in shares of The Cigna Group during the 1st quarter valued at about $29,000. TruNorth Capital Management LLC purchased a new position in The Cigna Group in the 2nd quarter valued at about $33,000. Ulland Investment Advisors LLC lifted its stake in The Cigna Group by 2,500.0% in the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after purchasing an additional 100 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in The Cigna Group in the 3rd quarter worth approximately $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in The Cigna Group in the 2nd quarter worth approximately $66,000. 86.99% of the stock is owned by institutional investors and hedge funds.

The Cigna Group Price Performance

Shares of NYSE:CI opened at $321.52 on Friday. The company has a 50-day simple moving average of $338.88 and a 200-day simple moving average of $339.55. The Cigna Group has a one year low of $253.95 and a one year high of $370.83. 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 stock has a market capitalization of $89.43 billion, a price-to-earnings ratio of 30.33, a PEG ratio of 0.97 and a beta of 0.51.

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

The Cigna Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $1.40 per share. The ex-dividend date is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.74%. The Cigna Group’s dividend payout ratio (DPR) is 52.83%.

Insider Transactions 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 dated Monday, August 19th. The shares were sold at an average price of $342.68, for a total transaction of $922,151.88. Following the completion of the transaction, the director now directly owns 17,539 shares in the company, valued at approximately $6,010,264.52. This trade represents a 13.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on CI shares. Piper Sandler reaffirmed an “overweight” rating and set a $394.00 price target (up previously from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. Stephens reiterated an “overweight” rating and issued a $410.00 target price on shares of The Cigna Group in a report on Friday, November 1st. Cantor Fitzgerald restated an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft dropped their price target on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Finally, StockNews.com cut shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $394.64.

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.