Deseret Mutual Benefit Administrators Has $260,000 Holdings in The Cigna Group (NYSE:CI)

Deseret Mutual Benefit Administrators increased its holdings in The Cigna Group (NYSE:CI) by 5.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 751 shares of the health services provider’s stock after buying an additional 40 shares during the period. Deseret Mutual Benefit Administrators’ holdings in The Cigna Group were worth $260,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in CI. Vanguard Group Inc. raised its holdings in The Cigna Group by 8.1% in 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 acquiring an additional 2,017,333 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of The Cigna Group by 6.4% during the 1st 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 acquiring an additional 867,180 shares in the last quarter. AQR Capital Management LLC increased its stake in The Cigna Group by 63.4% in the second quarter. AQR Capital Management LLC now owns 1,547,245 shares of the health services provider’s stock valued at $510,467,000 after acquiring an additional 600,215 shares during the last quarter. Swedbank AB acquired a new position in The Cigna Group during the first quarter valued at approximately $161,300,000. Finally, Ameriprise Financial Inc. lifted its stake in The Cigna Group by 23.4% during the second quarter. Ameriprise Financial Inc. now owns 2,138,193 shares of the health services provider’s stock worth $706,822,000 after purchasing an additional 405,694 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CI. JPMorgan Chase & Co. boosted their price target on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Piper Sandler reiterated an “overweight” rating and set a $394.00 target price (up from $392.00) on shares of The Cigna Group in a research report on Tuesday. Royal Bank of Canada decreased their price objective on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft decreased their price target on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research note on Monday. Finally, Jefferies Financial Group raised their price objective on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, The Cigna Group currently has an average rating of “Buy” and an average target price of $394.64.

The Cigna Group Price Performance

Shares of NYSE CI opened at $315.09 on Thursday. The firm has a market capitalization of $87.64 billion, a P/E ratio of 29.73, a P/E/G ratio of 0.96 and a beta of 0.51. The firm’s 50-day moving average price is $343.37 and its 200-day moving average price is $340.80. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71. The Cigna Group has a 1-year low of $253.95 and a 1-year high of $370.83.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.22 by $0.29. The business had revenue of $63.70 billion for the quarter, compared to analyst estimates of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The company’s quarterly revenue was up 29.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.77 earnings per share. Equities research analysts anticipate that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be paid a dividend of $1.40 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.78%. The Cigna Group’s dividend payout ratio (DPR) is presently 52.83%.

Insiders Place Their Bets

In other news, Director William J. Delaney III sold 2,691 shares of the business’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 sale, the director now directly owns 17,539 shares of the company’s stock, valued at $6,010,264.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.70% of the company’s stock.

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.