MidWestOne Financial Group Inc. Has $829,000 Stake in The Cigna Group (NYSE:CI)

MidWestOne Financial Group Inc. decreased its holdings in shares of The Cigna Group (NYSE:CI) by 5.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,507 shares of the health services provider’s stock after selling 141 shares during the quarter. MidWestOne Financial Group Inc.’s holdings in The Cigna Group were worth $829,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of CI. Vanguard Group Inc. raised its stake in The Cigna Group by 8.1% during the first quarter. Vanguard Group Inc. now owns 26,793,138 shares of the health services provider’s stock worth $9,731,000,000 after acquiring an additional 2,017,333 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of 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 buying an additional 867,180 shares during the period. AQR Capital Management LLC increased its stake in shares of The Cigna Group by 63.4% in the second quarter. AQR Capital Management LLC now owns 1,547,245 shares of the health services provider’s stock valued at $510,467,000 after buying an additional 600,215 shares during the period. Focused Investors Fund L P acquired a new position in shares of The Cigna Group in the first quarter valued at approximately $205,529,000. Finally, Swedbank AB acquired a new position in shares of The Cigna Group in the first quarter valued at approximately $161,300,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Insider Buying and Selling

In related news, Director William J. Delaney III sold 2,691 shares of the stock in a transaction on 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 document filed with the SEC, which is available through the SEC website. 0.60% of the stock is owned by company insiders.

The Cigna Group Price Performance

The Cigna Group stock opened at $347.70 on Friday. The stock has a market capitalization of $98.77 billion, a price-to-earnings ratio of 28.55, a PEG ratio of 1.08 and a beta of 0.50. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83. The stock’s 50 day moving average price is $348.16 and its two-hundred day moving average price is $345.32. 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 posted its quarterly earnings results 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 firm 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 company’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period in the prior year, the business earned $6.13 EPS. On average, equities analysts predict that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Dividend Announcement

The firm also recently declared 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 dividend yield of 1.61%. The ex-dividend date was Wednesday, September 4th. The Cigna Group’s payout ratio is 45.98%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CI. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $384.00 price objective on shares of The Cigna Group in a research note on Monday, September 9th. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. 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. JPMorgan Chase & Co. upped their price objective on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a research report on Monday, September 16th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $392.79.

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.