OFI Invest Asset Management Purchases 3,848 Shares of The Cigna Group (NYSE:CI)

OFI Invest Asset Management grew its stake in shares of The Cigna Group (NYSE:CI) by 3,886.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,947 shares of the health services provider’s stock after purchasing an additional 3,848 shares during the quarter. OFI Invest Asset Management’s holdings in The Cigna Group were worth $1,217,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CI. Vanguard Group Inc. boosted its position 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 worth $9,731,000,000 after buying an additional 2,017,333 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of 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 valued at $5,208,593,000 after buying an additional 867,180 shares during the last quarter. Sanders Capital LLC lifted its position in shares of The Cigna Group by 1.3% during the fourth quarter. Sanders Capital LLC now owns 7,727,729 shares of the health services provider’s stock valued at $2,314,068,000 after purchasing an additional 97,277 shares in the last quarter. Norges Bank bought a new position in shares of The Cigna Group during the fourth quarter valued at about $1,006,348,000. Finally, Parnassus Investments LLC lifted its position in shares of The Cigna Group by 5.0% during the fourth quarter. Parnassus Investments LLC now owns 2,682,061 shares of the health services provider’s stock valued at $803,143,000 after purchasing an additional 126,598 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Oppenheimer boosted their price target on shares of The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Piper Sandler initiated coverage on shares of The Cigna Group in a report on Wednesday, June 26th. They set an “overweight” rating and a $400.00 price target for the company. JPMorgan Chase & Co. upped their price objective on shares of The Cigna Group from $432.00 to $435.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Finally, Robert W. Baird assumed coverage on shares of The Cigna Group in a research report on Thursday, May 30th. They set an “outperform” rating and a $388.00 price objective on the stock. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $384.64.

Insider Buying and Selling

In other The Cigna Group news, insider Brian C. Evanko sold 4,795 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $345.01, for a total value of $1,654,322.95. Following the completion of the sale, the insider now owns 39,923 shares in the company, valued at $13,773,834.23. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Elder Granger sold 547 shares of The Cigna Group stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $331.38, for a total value of $181,264.86. Following the sale, the director now directly owns 5,471 shares in the company, valued at $1,812,979.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Brian C. Evanko sold 4,795 shares of the stock in a transaction dated 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 transaction, the insider now owns 39,923 shares of the company’s stock, valued at approximately $13,773,834.23. The disclosure for this sale can be found here. Insiders sold a total of 6,342 shares of company stock worth $2,173,668 over the last 90 days. 0.60% of the stock is owned by insiders.

The Cigna Group Trading Up 1.7 %

Shares of NYSE CI traded up $5.62 during trading on Friday, hitting $342.32. 865,340 shares of the company were exchanged, compared to its average volume of 1,563,398. The Cigna Group has a 12-month low of $253.95 and a 12-month high of $365.71. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.71. The company has a fifty day moving average price of $335.15 and a 200-day moving average price of $341.07. The firm has a market capitalization of $97.24 billion, a PE ratio of 28.11, a P/E/G ratio of 1.02 and a beta of 0.52.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.42 by $0.30. The firm had revenue of $60.52 billion during the quarter, compared to the consensus estimate of $58.30 billion. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The company’s quarterly revenue was up 24.6% on a year-over-year basis. During the same period last year, the company earned $6.13 EPS. As a group, equities research analysts expect that The Cigna Group will post 28.4 EPS for the current year.

The Cigna Group Announces Dividend

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

About The Cigna Group

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.