Simplify Asset Management Inc. Has $7.25 Million Stock Position in The Cigna Group (NYSE:CI)

Simplify Asset Management Inc. grew its holdings in shares of The Cigna Group (NYSE:CI - Free Report) by 328.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,933 shares of the health services provider's stock after purchasing an additional 16,045 shares during the period. The Cigna Group comprises about 0.3% of Simplify Asset Management Inc.'s portfolio, making the stock its 28th biggest position. Simplify Asset Management Inc.'s holdings in The Cigna Group were worth $7,252,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of CI. Cedar Wealth Management LLC acquired a new position in The Cigna Group in the first quarter valued at approximately $29,000. TruNorth Capital Management LLC acquired a new stake in shares of The Cigna Group in the second quarter valued at approximately $33,000. Ulland Investment Advisors LLC boosted its holdings in shares of 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 valued at $36,000 after acquiring an additional 100 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in shares of The Cigna Group in the third quarter valued at approximately $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of The Cigna Group in the second quarter valued at approximately $66,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group increased their price objective on The Cigna Group from $402.00 to $422.00 and gave the company a "buy" rating in a report on Tuesday, September 17th. Royal Bank of Canada decreased their price target 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. Piper Sandler reaffirmed an "overweight" rating and set a $394.00 price target (up from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft cut their price objective on The Cigna Group from $398.00 to $394.00 and set a "buy" rating for the company in a research report on Monday, November 4th. Finally, Barclays raised their price target on The Cigna Group from $405.00 to $420.00 and gave the company an "overweight" rating in a research report on Tuesday, November 5th. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, The Cigna Group presently has a consensus rating of "Buy" and an average target price of $394.64.

Insider Transactions at The Cigna Group

In related 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 transaction, the director now directly owns 17,539 shares of the company's stock, valued at approximately $6,010,264.52. The trade was a 13.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.60% of the stock is owned by insiders.

The Cigna Group Stock Performance

Shares of NYSE CI traded down $2.35 during trading on Friday, reaching $321.53. The stock had a trading volume of 1,650,169 shares, compared to its average volume of 1,545,534. The Cigna Group has a one year low of $253.95 and a one year high of $370.83. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72. The stock has a market cap of $89.43 billion, a PE ratio of 30.36, a P/E/G ratio of 1.00 and a beta of 0.51. The firm's 50 day moving average price is $339.52 and its two-hundred day moving average price is $339.91.

The Cigna Group (NYSE:CI - Get Free Report) 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 analysts' consensus estimates of $7.22 by $0.29. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The company had revenue of $63.70 billion during the quarter, compared to analyst estimates of $59.58 billion. During the same quarter in the previous year, the firm posted $6.77 EPS. The firm's quarterly revenue was up 29.8% on a year-over-year basis. On average, 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 business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date is Wednesday, December 4th. The Cigna Group's dividend payout ratio (DPR) is presently 52.83%.

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.