Los Angeles Capital Management LLC Buys 142,600 Shares of The Cigna Group (NYSE:CI)

Los Angeles Capital Management LLC boosted its position in shares of The Cigna Group (NYSE:CIFree Report) by 217.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 208,090 shares of the health services provider’s stock after acquiring an additional 142,600 shares during the period. Los Angeles Capital Management LLC owned 0.07% of The Cigna Group worth $75,576,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in CI. Somerset Trust Co grew its position in shares of The Cigna Group by 1.6% during the first quarter. Somerset Trust Co now owns 2,209 shares of the health services provider’s stock worth $802,000 after purchasing an additional 34 shares in the last quarter. Canandaigua National Bank & Trust Co. grew its holdings in The Cigna Group by 30.0% during the 1st quarter. Canandaigua National Bank & Trust Co. now owns 8,870 shares of the health services provider’s stock valued at $3,221,000 after buying an additional 2,046 shares in the last quarter. Kapitalo Investimentos Ltda raised its position in shares of The Cigna Group by 3.8% during the fourth quarter. Kapitalo Investimentos Ltda now owns 1,122 shares of the health services provider’s stock valued at $336,000 after buying an additional 41 shares during the last quarter. HighPoint Advisor Group LLC purchased a new position in shares of The Cigna Group in the fourth quarter worth $1,723,000. Finally, Leo Wealth LLC bought a new position in shares of The Cigna Group during the fourth quarter worth $625,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CI shares. StockNews.com cut The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 12th. Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a research report on Wednesday, June 12th. Barclays started coverage on shares of The Cigna Group in a report on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 target price on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $392.00 price target (up previously from $382.00) on shares of The Cigna Group in a report on Monday, March 4th. Finally, Oppenheimer boosted their price objective on The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $373.87.

View Our Latest Stock Analysis on CI

Insider Buying and Selling

In other The Cigna Group news, Director Elder Granger sold 1,000 shares of the 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 sale, the director now directly owns 5,471 shares of the company’s stock, valued at approximately $1,849,635.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Elder Granger sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $338.08, for a total transaction of $338,080.00. Following the sale, the director now owns 5,471 shares of the company’s stock, valued at approximately $1,849,635.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Cordani sold 31,209 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $355.17, for a total transaction of $11,084,500.53. Following the completion of the transaction, the chief executive officer now owns 348,054 shares of the company’s stock, valued at $123,618,339.18. The disclosure for this sale can be found here. Insiders sold 55,193 shares of company stock worth $19,475,326 in the last three months. Corporate insiders own 0.70% of the company’s stock.

The Cigna Group Stock Up 0.3 %

Shares of NYSE CI traded up $0.90 during mid-day trading on Wednesday, reaching $334.80. 1,206,235 shares of the company were exchanged, compared to its average volume of 1,544,252. The firm has a 50-day moving average of $343.36 and a 200 day moving average of $329.85. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $365.71. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.75. The stock has a market cap of $95.11 billion, a price-to-earnings ratio of 27.49, a P/E/G ratio of 1.02 and a beta of 0.53.

The Cigna Group (NYSE:CIGet Free Report) last announced its earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share for the quarter, beating the consensus estimate of $6.17 by $0.30. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The company had revenue of $57.25 billion during the quarter, compared to the consensus estimate of $56.59 billion. During the same period last year, the firm earned $5.41 earnings per share. The Cigna Group’s revenue was up 23.2% compared to the same quarter last year. On average, research analysts expect that The Cigna Group will post 28.47 earnings per share for the current year.

The Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Tuesday, June 4th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend is Tuesday, June 4th. The Cigna Group’s dividend payout ratio (DPR) is presently 45.98%.

The Cigna Group Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for The Cigna Group (NYSE:CI)

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