Cigna Group $CI Stake Lifted by Russell Investments Group Ltd.

Russell Investments Group Ltd. increased its holdings in shares of Cigna Group (NYSE:CI) by 26.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,070,738 shares of the health services provider’s stock after purchasing an additional 226,257 shares during the quarter. Russell Investments Group Ltd. owned 0.41% of Cigna Group worth $291,481,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Osbon Capital Management LLC bought a new position in Cigna Group during the 2nd quarter valued at about $26,000. Putney Financial Group LLC bought a new position in shares of Cigna Group during the 3rd quarter valued at approximately $27,000. Johnson Financial Group Inc. purchased a new stake in shares of Cigna Group in the second quarter worth $29,000. Fiduciary Financial Advisors bought a new stake in Cigna Group during the second quarter valued at about $29,000. Finally, ANTIPODES PARTNERS Ltd bought a new stake in Cigna Group during the 2nd quarter valued at approximately $34,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

Cigna Group News Roundup

These are some of the CI news items that stood out recently:

• Positive Sentiment: Recent coverage highlighted Cigna’s raised forecast, long-term growth runway and inclusion in CIBC’s defensive stock picks. Another report pointed to a stronger third-quarter outlook, which may support investor confidence. Cigna Group raised forecast and CIBC defensive basket Cigna outlook after strong third quarter
• Positive Sentiment: Cigna recently moved above its 20-day moving average, a technical signal that the cited analysis characterized as short-term bullish. Cigna breaks above 20-day moving average
• Neutral Sentiment: Jefferies raised its price target to $304 from $288 but maintained a Hold rating, indicating limited projected upside at the cited share price. Jefferies adjusts Cigna price target

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Sanford C. Bernstein upped their price target on shares of Cigna Group from $387.00 to $390.00 and gave the company an “outperform” rating in a research note on Wednesday. Guggenheim decreased their price objective on Cigna Group from $361.00 to $347.00 and set a “buy” rating on the stock in a research report on Friday, November 6th. Evercore assumed coverage on Cigna Group in a research note on Wednesday, September 9th. They issued an “in-line” rating and a $290.00 price objective for the company. Robert W. Baird set a $362.00 target price on Cigna Group in a research report on Friday, July 31st. Finally, Piper Sandler decreased their price target on Cigna Group from $370.00 to $360.00 and set an “overweight” rating on the stock in a report on Thursday. Fourteen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $340.15.

Insiders Place Their Bets

In other Cigna Group news, insider Nicole S. Jones sold 2,677 shares of the business’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $279.61, for a total value of $748,515.97. Following the completion of the sale, the insider directly owned 25,880 shares of the company’s stock, valued at $7,236,306.80. The trade was a 9.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Everett Neville sold 617 shares of the company’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $284.05, for a total transaction of $175,258.85. Following the completion of the transaction, the insider owned 5,053 shares in the company, valued at $1,435,304.65. This represents a 10.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is currently owned by insiders.

Cigna Group Stock Down 1.8%

Shares of NYSE:CI opened at $296.14 on Friday. Cigna Group has a 1 year low of $257.85 and a 1 year high of $318.05. The business has a 50 day simple moving average of $287.30 and a two-hundred day simple moving average of $282.56. The firm has a market capitalization of $78.03 billion, a PE ratio of 13.07, a price-to-earnings-growth ratio of 1.13 and a beta of 0.25. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.74 and a quick ratio of 0.74.

Cigna Group (NYSE:CI) last released its earnings results on Thursday, November 5th. The health services provider reported $7.98 EPS for the quarter, beating analysts’ consensus estimates of $7.52 by $0.46. Cigna Group had a return on equity of 19.57% and a net margin of 2.09%. The firm had revenue of $73.79 billion for the quarter, compared to analysts’ expectations of $72.64 billion. During the same quarter in the prior year, the firm posted $7.83 earnings per share. The company’s quarterly revenue was up 5.6% on a year-over-year basis. On average, equities analysts predict that Cigna Group will post 30.72 EPS for the current year.

Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Thursday, December 3rd will be paid a dividend of $1.56 per share. This represents a $6.24 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Thursday, December 3rd. Cigna Group’s payout ratio is currently 27.54%.

Cigna Group Profile

The Cigna Group is a global health services company that provides health insurance and related services through its Cigna Healthcare and Evernorth Health Services businesses. Cigna Healthcare offers medical, dental, behavioral health and other coverage and services to employers, individuals and government-program members. Evernorth provides pharmacy benefit management, specialty pharmacy, care delivery and other health services. Its offerings include prescription drug benefits and services for people with complex or chronic conditions.