Swiss National Bank Purchases 3,100 Shares of The Cigna Group (NYSE:CI)

Swiss National Bank boosted its position in The Cigna Group (NYSE:CI) by 0.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 843,101 shares of the health services provider’s stock after purchasing an additional 3,100 shares during the quarter. Swiss National Bank owned about 0.30% of The Cigna Group worth $292,084,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Cedar Wealth Management LLC acquired a new position in The Cigna Group in the 1st quarter worth about $29,000. TruNorth Capital Management LLC bought a new stake in shares of The Cigna Group during the 2nd quarter valued at about $33,000. Ulland Investment Advisors LLC boosted its holdings in The Cigna Group by 2,500.0% in the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after acquiring an additional 100 shares in the last quarter. Harbor Capital Advisors Inc. bought a new position in The Cigna Group in the third quarter worth approximately $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in The Cigna Group in the second quarter worth approximately $66,000. 86.99% of the stock is currently owned by institutional investors.

Insider Activity

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the company’s stock in a transaction on Monday, August 19th. The stock was 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 owns 17,539 shares in the company, valued at $6,010,264.52. This represents a 13.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.60% of the company’s stock.

The Cigna Group Price Performance

NYSE:CI opened at $321.52 on Friday. 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 company has a market capitalization of $89.43 billion, a P/E ratio of 30.33, a P/E/G ratio of 0.97 and a beta of 0.51. The Cigna Group has a 12 month low of $253.95 and a 12 month high of $370.83. The business’s 50-day moving average is $338.88 and its 200 day moving average is $339.55.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, topping the consensus estimate of $7.22 by $0.29. The company had revenue of $63.70 billion for the quarter, compared to analysts’ expectations of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The firm’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same period in the previous year, the firm posted $6.77 earnings per share. On average, equities research analysts forecast that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently announced 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 is 52.83%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. StockNews.com lowered The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Jefferies Financial Group upped their price target on The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Royal Bank of Canada dropped their price target on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. JPMorgan Chase & Co. increased their price objective on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Finally, Barclays increased their price objective on The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $394.64.

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.