CHB Investment Group LLC Acquires Shares of 7,704 The Cigna Group (NYSE:CI)

CHB Investment Group LLC acquired a new position in The Cigna Group (NYSE:CI - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 7,704 shares of the health services provider's stock, valued at approximately $2,669,000.

Several other large investors have also bought and sold shares of CI. Vanguard Group Inc. boosted its stake in The Cigna Group by 8.1% during the first quarter. Vanguard Group Inc. now owns 26,793,138 shares of the health services provider's stock worth $9,731,000,000 after acquiring an additional 2,017,333 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of The Cigna Group by 6.4% in 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 buying an additional 867,180 shares during the last quarter. AQR Capital Management LLC increased its position in The Cigna Group by 63.4% during the 2nd quarter. AQR Capital Management LLC now owns 1,547,245 shares of the health services provider's stock valued at $510,467,000 after buying an additional 600,215 shares in the last quarter. Swedbank AB bought a new stake in The Cigna Group in the first quarter worth $161,300,000. Finally, Ameriprise Financial Inc. grew its stake in shares of The Cigna Group by 23.4% in the second quarter. Ameriprise Financial Inc. now owns 2,138,193 shares of the health services provider's stock worth $706,822,000 after acquiring an additional 405,694 shares during the last quarter. 86.99% of the stock is owned by institutional investors.

The Cigna Group Stock Down 4.8 %

Shares of NYSE:CI traded down $17.12 during trading on Friday, reaching $336.00. The stock had a trading volume of 2,632,325 shares, compared to its average volume of 1,480,892. The firm's 50-day simple moving average is $350.67 and its 200 day simple moving average is $344.62. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73. The Cigna Group has a one year low of $253.95 and a one year high of $370.83. The company has a market capitalization of $95.45 billion, a P/E ratio of 27.59, a PEG ratio of 1.05 and a beta of 0.50.

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

The Cigna Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, September 4th were issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date was Wednesday, September 4th. The Cigna Group's dividend payout ratio (DPR) is 45.98%.

Insider Activity at The Cigna Group

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 shares were sold at an average price of $342.68, for a total value of $922,151.88. Following the sale, the director now directly owns 17,539 shares of the company's stock, valued at approximately $6,010,264.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Piper Sandler began coverage on The Cigna Group in a report on Wednesday, June 26th. They set an "overweight" rating and a $400.00 price target on the stock. Jefferies Financial Group increased their price objective on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a "buy" rating in a research note on Tuesday, September 17th. JPMorgan Chase & Co. lifted their target price on shares of The Cigna Group from $435.00 to $438.00 and gave the company an "overweight" rating in a research note 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 report on Tuesday, October 1st. Finally, Barclays upped their price objective on The Cigna Group from $393.00 to $405.00 and gave the stock an "overweight" rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $392.79.

The Cigna Group Profile

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.