MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Grows Stock Position in The Cigna Group (NYSE:CI)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its stake in shares of The Cigna Group (NYSE:CI) by 66.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,347 shares of the health services provider’s stock after purchasing an additional 10,556 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in The Cigna Group were worth $8,710,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Drive Wealth Management LLC raised its stake in shares of The Cigna Group by 2.5% during the second quarter. Drive Wealth Management LLC now owns 1,524 shares of the health services provider’s stock worth $504,000 after purchasing an additional 37 shares during the last quarter. Obermeyer Wood Investment Counsel Lllp raised its position in The Cigna Group by 3.8% in the second quarter. Obermeyer Wood Investment Counsel Lllp now owns 7,026 shares of the health services provider’s stock worth $2,323,000 after acquiring an additional 259 shares in the last quarter. Claro Advisors LLC raised its position in The Cigna Group by 26.9% in the second quarter. Claro Advisors LLC now owns 1,770 shares of the health services provider’s stock worth $585,000 after acquiring an additional 375 shares in the last quarter. Summit Financial LLC purchased a new position in The Cigna Group in the second quarter worth $456,000. Finally, Essex Financial Services Inc. raised its position in The Cigna Group by 10.5% in the second quarter. Essex Financial Services Inc. now owns 10,402 shares of the health services provider’s stock worth $3,439,000 after acquiring an additional 986 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CI shares. Robert W. Baird started coverage on The Cigna Group in a research report on Thursday, May 30th. They issued an “outperform” rating and a $388.00 price objective for the company. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Piper Sandler assumed coverage on The Cigna Group in a research report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 price objective for the company. Baird R W upgraded The Cigna Group to a “strong-buy” rating in a research report on Thursday, May 30th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a research note on Monday, August 19th. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $384.86.

The Cigna Group Trading Up 0.2 %

NYSE:CI traded up $0.75 during mid-day trading on Friday, reaching $361.81. The company’s stock had a trading volume of 1,148,195 shares, compared to its average volume of 1,344,975. The company’s fifty day simple moving average is $338.24 and its two-hundred day simple moving average is $342.90. 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 twelve month low of $253.95 and a twelve month high of $365.71. The stock has a market cap of $101.14 billion, a P/E ratio of 29.71, a P/E/G ratio of 1.10 and a beta of 0.52.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $60.52 billion for the quarter, compared to analyst estimates of $58.30 billion. During the same period last year, the company earned $6.13 EPS. The firm’s quarterly revenue was up 24.6% on a year-over-year basis. On average, equities analysts predict that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th will be issued a $1.40 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.55%. The Cigna Group’s dividend payout ratio (DPR) is 45.98%.

Insider Transactions at The Cigna Group

In other news, insider Brian C. Evanko sold 4,795 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $345.01, for a total value of $1,654,322.95. Following the transaction, the insider now directly owns 39,923 shares in the company, valued at approximately $13,773,834.23. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director William J. Delaney III sold 2,691 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $342.68, for a total value of $922,151.88. Following 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 document filed with the SEC, which is accessible through the SEC website. Also, insider Brian C. Evanko sold 4,795 shares of the firm’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $345.01, for a total value of $1,654,322.95. Following the sale, the insider now owns 39,923 shares in the company, valued at $13,773,834.23. The disclosure for this sale can be found here. Insiders have sold a total of 9,033 shares of company stock worth $3,095,820 in the last three months. 0.60% of the stock is currently owned by company insiders.

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.