The Cigna Group (NYSE:CI) Shares Purchased by Swiss National Bank

Swiss National Bank increased its stake in The Cigna Group (NYSE:CI - Free Report) by 0.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 843,101 shares of the health services provider's stock after purchasing an additional 3,100 shares during the period. Swiss National Bank owned 0.30% of The Cigna Group worth $292,084,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD increased its position 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 valued at $5,208,593,000 after acquiring an additional 867,180 shares during the period. AQR Capital Management LLC lifted 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 worth $510,467,000 after acquiring an additional 600,215 shares during the period. Swedbank AB purchased a new stake in The Cigna Group during the 1st quarter valued at about $161,300,000. Ameriprise Financial Inc. increased its holdings 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 valued at $706,822,000 after purchasing an additional 405,694 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in shares of The Cigna Group by 145.3% in the second quarter. The Manufacturers Life Insurance Company now owns 683,361 shares of the health services provider's stock worth $225,899,000 after purchasing an additional 404,791 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company's stock.

The Cigna Group Price Performance

CI traded down $2.36 during trading on Friday, hitting $321.52. The company's stock had a trading volume of 1,650,180 shares, compared to its average volume of 2,250,354. The firm has a market capitalization of $89.43 billion, a price-to-earnings ratio of 30.33, a P/E/G ratio of 0.97 and a beta of 0.51. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $370.83. The business's fifty day simple moving average is $338.88 and its 200 day simple moving average is $339.42. 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 (NYSE:CI - Get Free Report) last announced its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.22 by $0.29. The firm 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 business's revenue was up 29.8% on a year-over-year basis. During the same quarter last year, the firm posted $6.77 EPS. On average, equities research analysts forecast that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.74%. The Cigna Group's dividend payout ratio (DPR) is presently 52.83%.

Analyst Ratings Changes

CI has been the topic of several research reports. JPMorgan Chase & Co. increased their price target on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an "overweight" rating in a report on Wednesday, August 21st. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $400.00 price objective on shares of The Cigna Group in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft reduced their target price on shares of The Cigna Group from $398.00 to $394.00 and set a "buy" rating for the company in a report on Monday, November 4th. Barclays boosted their target price on shares of The Cigna Group from $405.00 to $420.00 and gave the company an "overweight" rating in a research report on Tuesday, November 5th. Finally, Royal Bank of Canada cut 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. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $394.64.

Insider Activity at The Cigna Group

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction on Monday, August 19th. The shares were sold at an average price of $342.68, for a total transaction of $922,151.88. Following the sale, the director now owns 17,539 shares of the company's stock, valued at $6,010,264.52. The trade was a 13.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.60% of the stock is currently owned by corporate insiders.

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.