MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Has $8.81 Million Stock Holdings in The Cigna Group (NYSE:CI)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH reduced its holdings in shares of The Cigna Group (NYSE:CI) by 3.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,430 shares of the health services provider’s stock after selling 917 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in The Cigna Group were worth $8,810,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Van ECK Associates Corp increased its holdings in The Cigna Group by 4.4% during the 2nd quarter. Van ECK Associates Corp now owns 14,872 shares of the health services provider’s stock worth $4,916,000 after purchasing an additional 625 shares in the last quarter. Hancock Whitney Corp raised its position in The Cigna Group by 75.6% in the 1st quarter. Hancock Whitney Corp now owns 3,783 shares of the health services provider’s stock valued at $1,374,000 after buying an additional 1,629 shares during the last quarter. ORG Partners LLC bought a new position in The Cigna Group during the 2nd quarter valued at $489,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in The Cigna Group by 21.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,453 shares of the health services provider’s stock worth $34,304,000 after acquiring an additional 16,846 shares during the last quarter. Finally, Tidal Investments LLC grew its stake in shares of The Cigna Group by 36.0% in the 1st quarter. Tidal Investments LLC now owns 15,276 shares of the health services provider’s stock worth $5,548,000 after acquiring an additional 4,043 shares in the last quarter. 86.99% of the stock is owned by institutional investors.

The Cigna Group Stock Performance

Shares of CI stock opened at $350.30 on Monday. The firm’s 50 day moving average is $348.81 and its 200 day moving average is $344.64. The stock has a market capitalization of $99.51 billion, a P/E ratio of 28.76, a PEG ratio of 1.05 and a beta of 0.50. The Cigna Group has a 12 month low of $253.95 and a 12 month high of $370.83. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.42 by $0.30. The firm had revenue of $60.52 billion for the quarter, compared to the consensus estimate of $58.30 billion. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The business’s quarterly revenue was up 24.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $6.13 earnings per share. On average, sell-side analysts anticipate that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, September 4th were issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date was Wednesday, September 4th. The Cigna Group’s payout ratio is presently 45.98%.

Insider Activity

In other news, Director William J. Delaney III sold 2,691 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $342.68, for a total value of $922,151.88. Following the sale, the director now directly owns 17,539 shares of the company’s stock, valued at approximately $6,010,264.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

CI has been the topic of several analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $384.00 price target on shares of The Cigna Group in a report on Monday, September 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a report on Tuesday, October 1st. JPMorgan Chase & Co. lifted their price target on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Jefferies Financial Group upped their price objective on The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Finally, Barclays lifted their target price on The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. One research 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. Based on data from MarketBeat, The Cigna Group presently has a consensus rating of “Buy” and a consensus target price of $392.79.

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.