Symmetry Investments LP Buys New Stake in The Cigna Group (NYSE:CI)

Symmetry Investments LP purchased a new position in shares of The Cigna Group (NYSE:CI) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,209 shares of the health services provider’s stock, valued at approximately $2,383,000.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of The Cigna Group by 8.1% in the first quarter. Vanguard Group Inc. now owns 26,793,138 shares of the health services provider’s stock valued at $9,731,000,000 after acquiring an additional 2,017,333 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in The Cigna Group by 6.4% in 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. Focused Investors Fund L P bought a new stake in The Cigna Group during the 1st quarter worth about $205,529,000. Swedbank AB acquired a new position in The Cigna Group during the 1st quarter valued at about $161,300,000. Finally, Skandinaviska Enskilda Banken AB publ boosted its stake in shares of The Cigna Group by 526.3% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 363,537 shares of the health services provider’s stock valued at $120,174,000 after purchasing an additional 305,490 shares during the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

The Cigna Group Stock Down 0.3 %

NYSE:CI opened at $356.14 on Friday. The stock has a 50-day simple moving average of $347.02 and a 200 day simple moving average of $344.97. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83. The company has a market cap of $101.17 billion, a PE ratio of 29.24, a PEG ratio of 1.09 and a beta of 0.50. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.71.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 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 analyst estimates of $58.30 billion. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The firm’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.13 earnings per share. On average, sell-side analysts expect that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, September 4th were issued a dividend of $1.40 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $5.60 annualized dividend and a yield of 1.57%. The Cigna Group’s payout ratio is presently 45.98%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CI. StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Piper Sandler assumed coverage on The Cigna Group in a research note on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 price target on the stock. Barclays lifted their price objective 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. Royal Bank of Canada restated an “outperform” rating and set a $384.00 target price on shares of The Cigna Group in a report on Monday, September 9th. Finally, Stephens reaffirmed an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a research note on Friday, August 2nd. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $392.79.

Insider Activity at The Cigna Group

In other news, insider Brian C. Evanko sold 4,795 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the sale, the insider now owns 39,923 shares in the company, valued at approximately $13,773,834.23. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other The Cigna Group news, insider Brian C. Evanko sold 4,795 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the transaction, the insider now owns 39,923 shares of the company’s stock, valued at $13,773,834.23. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director William J. Delaney III sold 2,691 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 17,539 shares of the company’s stock, valued at $6,010,264.52. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

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.