The Cigna Group (NYSE:CI) Shares Acquired by Zions Bancorporation N.A.

Zions Bancorporation N.A. lifted its stake in shares of The Cigna Group (NYSE:CI) by 9.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 943 shares of the health services provider’s stock after purchasing an additional 81 shares during the quarter. Zions Bancorporation N.A.’s holdings in The Cigna Group were worth $327,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CI. Price T Rowe Associates Inc. MD lifted 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 acquiring an additional 867,180 shares during the period. AQR Capital Management LLC raised its holdings in The Cigna Group by 63.4% during the second quarter. AQR Capital Management LLC now owns 1,547,245 shares of the health services provider’s stock worth $510,467,000 after purchasing an additional 600,215 shares in the last quarter. Swedbank AB acquired a new stake in The Cigna Group in the first quarter valued at about $161,300,000. Ameriprise Financial Inc. boosted its holdings in The Cigna Group by 23.4% in the 2nd 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 in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in The Cigna Group by 145.3% during the 2nd 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 period. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director William J. Delaney III sold 2,691 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were 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 owns 17,539 shares of the company’s stock, valued at $6,010,264.52. This represents a 13.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.60% of the company’s stock.

The Cigna Group Stock Performance

NYSE CI opened at $321.53 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.71. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $370.83. The business has a fifty day moving average of $339.52 and a 200-day moving average of $339.91. The stock has a market cap of $89.43 billion, a price-to-earnings ratio of 30.33, a price-to-earnings-growth ratio of 1.00 and a beta of 0.51.

The Cigna Group (NYSE:CI) last released 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 Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The company had revenue of $63.70 billion for the quarter, compared to analyst estimates of $59.58 billion. During the same period in the prior year, the firm earned $6.77 EPS. The firm’s quarterly revenue was up 29.8% on a year-over-year basis. As a group, analysts predict that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be paid a $1.40 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 annualized dividend and a yield of 1.74%. The Cigna Group’s payout ratio is currently 52.83%.

Analyst Upgrades and Downgrades

CI has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price target on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a research report on Wednesday, October 23rd. Barclays upped their price target on shares of The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Piper Sandler reiterated an “overweight” rating and issued a $394.00 price objective (up previously from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. Finally, Jefferies Financial Group increased their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, The Cigna Group has a consensus rating of “Buy” and an average target price of $394.64.

The Cigna Group Company 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.