Quotient Wealth Partners LLC Increases Stock Holdings in The Cigna Group (NYSE:CI)

Quotient Wealth Partners LLC boosted its stake in The Cigna Group (NYSE:CI) by 8.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 732 shares of the health services provider’s stock after buying an additional 57 shares during the quarter. Quotient Wealth Partners LLC’s holdings in The Cigna Group were worth $242,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of The Cigna Group by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 26,793,138 shares of the health services provider’s stock worth $9,731,000,000 after buying an additional 2,017,333 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of The Cigna Group by 6.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,341,233 shares of the health services provider’s stock valued at $5,208,593,000 after acquiring an additional 867,180 shares during the last quarter. Sanders Capital LLC lifted its holdings in The Cigna Group by 1.3% during the fourth quarter. Sanders Capital LLC now owns 7,727,729 shares of the health services provider’s stock worth $2,314,068,000 after acquiring an additional 97,277 shares during the period. Norges Bank purchased a new position in The Cigna Group in the fourth quarter worth $1,006,348,000. Finally, Parnassus Investments LLC grew its stake in The Cigna Group by 5.0% in the 4th quarter. Parnassus Investments LLC now owns 2,682,061 shares of the health services provider’s stock valued at $803,143,000 after purchasing an additional 126,598 shares during the period. 86.99% of the stock is currently owned by institutional investors.

The Cigna Group Trading Up 2.2 %

NYSE:CI opened at $353.99 on Friday. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $365.71. The stock’s fifty day moving average price is $336.09 and its two-hundred day moving average price is $342.09. 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 company has a market cap of $100.56 billion, a P/E ratio of 29.06, a P/E/G ratio of 1.02 and a beta of 0.52.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data 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 business had revenue of $60.52 billion for the quarter, compared to analysts’ expectations of $58.30 billion. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The firm’s quarterly revenue was up 24.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.13 EPS. As a group, analysts expect that The Cigna Group will post 28.4 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. Investors of record on Wednesday, September 4th will be paid a dividend of $1.40 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $5.60 annualized dividend and a yield of 1.58%. The Cigna Group’s dividend payout ratio is currently 45.98%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Oppenheimer lifted their target price on The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. increased their target price on shares of The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research report on Wednesday. Robert W. Baird started coverage on shares of The Cigna Group in a report on Thursday, May 30th. They issued an “outperform” rating and a $388.00 price target on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a research note on Monday, August 19th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, The Cigna Group currently has a consensus rating of “Buy” and a consensus price target of $384.86.

Insider Buying and Selling

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $342.68, for a total value of $922,151.88. Following the completion of the transaction, the director now directly owns 17,539 shares of the company’s stock, valued at approximately $6,010,264.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the company’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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian C. Evanko sold 4,795 shares of The Cigna Group 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 of the company’s stock, valued at approximately $13,773,834.23. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,033 shares of company stock valued at $3,095,820. Company insiders own 0.60% of the company’s stock.

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.