Westpac Banking Corp Raises Stock Position in The Cigna Group (NYSE:CI)

Westpac Banking Corp grew its holdings in The Cigna Group (NYSE:CIFree Report) by 31.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 22,382 shares of the health services provider’s stock after purchasing an additional 5,290 shares during the quarter. Westpac Banking Corp’s holdings in The Cigna Group were worth $6,702,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CI. Bogart Wealth LLC boosted its stake in The Cigna Group by 104.5% in the third quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock valued at $26,000 after acquiring an additional 46 shares in the last quarter. OFI Invest Asset Management purchased a new position in The Cigna Group during the third quarter worth about $26,000. Fortitude Family Office LLC acquired a new stake in The Cigna Group in the fourth quarter valued at about $29,000. VisionPoint Advisory Group LLC boosted its holdings in The Cigna Group by 112.2% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock valued at $30,000 after purchasing an additional 55 shares in the last quarter. Finally, Pacifica Partners Inc. lifted its holdings in shares of The Cigna Group by 73.2% in the 4th quarter. Pacifica Partners Inc. now owns 142 shares of the health services provider’s stock valued at $43,000 after buying an additional 60 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

Insider Activity

In other The Cigna Group news, CEO David Cordani sold 2,000 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $345.04, for a total value of $690,080.00. Following the transaction, the chief executive officer now owns 336,783 shares in the company, valued at approximately $116,203,606.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders sold 62,039 shares of company stock worth $21,820,348. 0.70% of the stock is currently owned by company insiders.

The Cigna Group Trading Down 0.8 %

CI stock traded down $2.72 during trading on Wednesday, reaching $343.70. 1,047,853 shares of the stock traded hands, compared to its average volume of 1,580,484. The firm has a market capitalization of $97.63 billion, a PE ratio of 28.25, a P/E/G ratio of 1.07 and a beta of 0.57. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.71 and a quick ratio of 0.71. The business’s 50 day moving average price is $352.26 and its 200-day moving average price is $321.80. The Cigna Group has a 52-week low of $240.50 and a 52-week high of $365.71.

The Cigna Group (NYSE:CIGet Free Report) last posted its earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.17 by $0.30. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The firm had revenue of $57.25 billion during the quarter, compared to the consensus estimate of $56.59 billion. During the same quarter in the prior year, the company earned $5.41 EPS. The company’s revenue was up 23.2% on a year-over-year basis. As a group, sell-side analysts forecast that The Cigna Group will post 28.46 earnings per share for the current year.

The Cigna Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th will be paid a dividend of $1.40 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.63%. The Cigna Group’s dividend payout ratio is currently 45.98%.

Wall Street Analysts Forecast Growth

CI has been the topic of a number of recent analyst reports. Morgan Stanley reaffirmed an “overweight” rating and set a $392.00 price target (up from $382.00) on shares of The Cigna Group in a research note on Monday, March 4th. Mizuho raised their price objective on The Cigna Group from $360.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, February 5th. StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 14th. Oppenheimer upped their price target on shares of The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Finally, Royal Bank of Canada raised shares of The Cigna Group from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $327.00 to $354.00 in a research note on Monday, February 5th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, The Cigna Group presently has an average rating of “Buy” and a consensus price target of $366.14.

Get Our Latest Research Report on The Cigna Group

The Cigna Group Profile

(Free Report)

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.

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Institutional Ownership by Quarter for The Cigna Group (NYSE:CI)

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