Van ECK Associates Corp raised its position in shares of The Cigna Group (NYSE:CI – Free Report) by 3.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,268 shares of the health services provider’s stock after purchasing an additional 474 shares during the quarter. Van ECK Associates Corp’s holdings in The Cigna Group were worth $4,082,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bogart Wealth LLC boosted its stake in shares of The Cigna Group by 104.5% during the 3rd quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock worth $26,000 after acquiring an additional 46 shares in the last quarter. OFI Invest Asset Management purchased a new stake in shares of The Cigna Group in the third quarter valued at $26,000. Fairfield Bush & CO. purchased a new stake in shares of The Cigna Group in the second quarter valued at $28,000. Optimum Investment Advisors lifted its holdings in shares of The Cigna Group by 110.0% in the third quarter. Optimum Investment Advisors now owns 105 shares of the health services provider’s stock valued at $30,000 after purchasing an additional 55 shares in the last quarter. Finally, Householder Group Estate & Retirement Specialist LLC purchased a new stake in shares of The Cigna Group in the third quarter valued at $33,000. 85.32% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the completion of the transaction, the senior vice president now owns 2,102 shares in the company, valued at $694,668.96. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.60% of the company’s stock.
The Cigna Group Trading Up 0.7 %
The Cigna Group (NYSE:CI – Get Free Report) last released its earnings results on Friday, February 2nd. The health services provider reported $6.79 earnings per share for the quarter, topping analysts’ consensus estimates of $6.54 by $0.25. The Cigna Group had a return on equity of 13.59% and a net margin of 2.64%. The business had revenue of $51.15 billion for the quarter, compared to the consensus estimate of $48.91 billion. During the same period last year, the business earned $4.96 earnings per share. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. Equities research analysts predict that The Cigna Group will post 28.36 earnings per share for the current year.
The Cigna Group Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 21st. Investors of record on Wednesday, March 6th will be given a dividend of $1.40 per share. The ex-dividend date is Tuesday, March 5th. This is an increase from The Cigna Group’s previous quarterly dividend of $1.23. This represents a $5.60 dividend on an annualized basis and a yield of 1.66%. The Cigna Group’s dividend payout ratio (DPR) is 28.29%.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on the company. Mizuho increased their target price on The Cigna Group from $360.00 to $370.00 and gave the company a “buy” rating in a report on Monday, February 5th. Oppenheimer reiterated an “outperform” rating and set a $360.00 price objective on shares of The Cigna Group in a report on Wednesday, January 17th. Cantor Fitzgerald upgraded The Cigna Group from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $334.00 to $372.00 in a report on Monday, February 5th. Jefferies Financial Group upgraded The Cigna Group from a “hold” rating to a “buy” rating and increased their price objective for the stock from $335.00 to $341.00 in a report on Monday, December 11th. Finally, Wells Fargo & Company increased their target price on shares of The Cigna Group from $334.00 to $348.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $357.15.
The Cigna Group 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.
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