Ameriprise Financial Inc. Boosts Stake in The Cigna Group (NYSE:CI)

Ameriprise Financial Inc. grew its stake in shares of The Cigna Group (NYSE:CI - Free Report) by 23.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,138,193 shares of the health services provider's stock after purchasing an additional 405,694 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.75% of The Cigna Group worth $706,822,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in CI. Silicon Valley Capital Partners boosted its position in shares of The Cigna Group by 100.0% during the first quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider's stock valued at $25,000 after purchasing an additional 35 shares in the last quarter. Cedar Wealth Management LLC bought a new position in The Cigna Group during the 1st quarter valued at approximately $29,000. Raleigh Capital Management Inc. raised its stake in The Cigna Group by 69.5% during the fourth quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider's stock valued at $30,000 after buying an additional 41 shares during the last quarter. TruNorth Capital Management LLC bought a new stake in The Cigna Group in the second quarter worth $33,000. Finally, Pineridge Advisors LLC bought a new position in shares of The Cigna Group during the fourth quarter valued at $37,000. Institutional investors own 86.99% of the company's stock.

The Cigna Group Stock Performance

Shares of CI stock traded down $3.95 during trading hours on Thursday, reaching $344.91. 1,663,131 shares of the company traded hands, compared to its average volume of 1,505,435. The firm has a 50-day moving average price of $347.84 and a 200 day moving average price of $345.28. The company has a market cap of $97.98 billion, a P/E ratio of 28.36, a P/E/G ratio of 1.08 and a beta of 0.50. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.71 and a quick ratio of 0.71. The Cigna Group has a 12-month low of $253.95 and a 12-month high of $370.83.

The Cigna Group (NYSE:CI - Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, topping analysts' consensus estimates of $6.42 by $0.30. The business had revenue of $60.52 billion during the quarter, compared to analyst estimates of $58.30 billion. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The company's revenue was up 24.6% on a year-over-year basis. During the same period in the prior year, the business posted $6.13 earnings per share. As a group, sell-side analysts predict that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th were given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.62%. The ex-dividend date was Wednesday, September 4th. The Cigna Group's payout ratio is currently 45.98%.

Insider Transactions at The Cigna Group

In other news, Director William J. Delaney III sold 2,691 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 17,539 shares in the company, valued at approximately $6,010,264.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Baird R W raised shares of The Cigna Group to a "strong-buy" rating in a report on Thursday, May 30th. Stephens reaffirmed an "overweight" rating and set a $410.00 price target on shares of The Cigna Group in a report on Friday, August 2nd. JPMorgan Chase & Co. increased their price objective on shares of The Cigna Group from $435.00 to $438.00 and gave the company an "overweight" rating in a research report on Wednesday, August 21st. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $400.00 target price on shares of The Cigna Group in a research report on Monday, September 16th. Finally, StockNews.com raised The Cigna Group from a "buy" rating to a "strong-buy" rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, The Cigna Group has an average rating of "Buy" and an average target price of $392.79.

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.