1,934 Cigna Group $CI Shares Acquired by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. lifted its stake in Cigna Group (NYSE:CI) by 1.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 106,875 shares of the health services provider’s stock after purchasing an additional 1,934 shares during the quarter. Eurizon Capital SGR S.p.A.’s holdings in Cigna Group were worth $29,056,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of CI. Osbon Capital Management LLC purchased a new position in shares of Cigna Group in the second quarter worth approximately $26,000. Putney Financial Group LLC purchased a new stake in shares of Cigna Group in the 3rd quarter valued at approximately $27,000. Johnson Financial Group Inc. purchased a new stake in shares of Cigna Group in the 2nd quarter valued at approximately $29,000. Fiduciary Financial Advisors acquired a new position in Cigna Group in the 2nd quarter worth approximately $29,000. Finally, ANTIPODES PARTNERS Ltd acquired a new position in Cigna Group in the 2nd quarter worth approximately $34,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Cigna Group Trading Up 0.2%

NYSE:CI opened at $296.79 on Friday. The company has a market capitalization of $78.21 billion, a P/E ratio of 13.10, a P/E/G ratio of 1.11 and a beta of 0.25. The stock’s 50 day moving average price is $287.53 and its 200 day moving average price is $282.70. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.74 and a current ratio of 0.74. Cigna Group has a 52 week low of $257.85 and a 52 week high of $318.05.

Cigna Group (NYSE:CI) last posted its earnings results on Thursday, November 5th. The health services provider reported $7.98 earnings per share for the quarter, beating the consensus estimate of $7.52 by $0.46. Cigna Group had a return on equity of 19.57% and a net margin of 2.09%. The company had revenue of $73.79 billion for the quarter, compared to analyst estimates of $72.64 billion. During the same period last year, the company earned $7.83 earnings per share. The business’s revenue was up 5.6% compared to the same quarter last year. On average, research analysts forecast that Cigna Group will post 30.71 EPS for the current fiscal year.

Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Thursday, December 3rd will be paid a $1.56 dividend. This represents a $6.24 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Thursday, December 3rd. Cigna Group’s dividend payout ratio (DPR) is presently 27.54%.

Insider Buying and Selling

In other news, insider Nicole S. Jones sold 2,677 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $279.61, for a total value of $748,515.97. Following the completion of the sale, the insider directly owned 25,880 shares in the company, valued at approximately $7,236,306.80. The trade was a 9.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Everett Neville sold 617 shares of the company’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $284.05, for a total transaction of $175,258.85. Following the sale, the insider directly owned 5,053 shares of the company’s stock, valued at approximately $1,435,304.65. This represents a 10.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is currently owned by company insiders.

Recent Cigna Group Headlines

These are some of the CI headlines that stood out recently:

• Positive Sentiment: Wells Fargo raised its price target from $307; reports give different new targets of $325 and $335, while keeping an equal-weight rating. Jefferies also lifted its target from $288 to $304, but maintained a hold rating. Wells Fargo target report Wells Fargo alternate target report Jefferies target report
• Positive Sentiment: Coverage points to a raised earnings outlook following a strong third quarter, which could improve expectations for future results. CIBC also included Cigna in a defensive stock-pick list. Cigna earnings outlook CIBC defensive stock-pick list
• Negative Sentiment: Piper Sandler trimmed its target from $370 to $360, though it retained an overweight rating. Separately, CIBC cited the possibility of a tougher regulatory environment after the election as a risk for corporate America. Piper Sandler target revision CIBC election-related context

Wall Street Analyst Weigh In

Several research firms have weighed in on CI. Piper Sandler lowered their price objective on shares of Cigna Group from $370.00 to $360.00 and set an “overweight” rating on the stock in a research report on Thursday. Wells Fargo & Company lifted their price target on Cigna Group from $307.00 to $325.00 and gave the company an “equal weight” rating in a report on Friday. UBS Group reissued a “buy” rating on shares of Cigna Group in a research report on Thursday, October 1st. Raymond James Financial downgraded Cigna Group from a “strong-buy” rating to an “outperform” rating and dropped their target price for the company from $350.00 to $320.00 in a report on Monday, August 3rd. Finally, Evercore started coverage on shares of Cigna Group in a report on Wednesday, September 9th. They set an “in-line” rating and a $290.00 price target for the company. Fourteen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $336.90.

About Cigna Group

The Cigna Group is a global health services company that provides health insurance and related services through its Cigna Healthcare and Evernorth Health Services businesses. Cigna Healthcare offers medical, dental, behavioral health and other coverage and services to employers, individuals and government-program members. Evernorth provides pharmacy benefit management, specialty pharmacy, care delivery and other health services. Its offerings include prescription drug benefits and services for people with complex or chronic conditions.