Simplify Asset Management Inc. Trims Stock Holdings in The Cigna Group (NYSE:CI)

Simplify Asset Management Inc. lessened its stake in shares of The Cigna Group (NYSE:CI) by 79.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,888 shares of the health services provider’s stock after selling 19,399 shares during the quarter. Simplify Asset Management Inc.’s holdings in The Cigna Group were worth $1,616,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of The Cigna Group by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 26,793,138 shares of the health services provider’s stock valued at $9,731,000,000 after buying an additional 2,017,333 shares during the period. Price T Rowe Associates Inc. MD increased its stake in 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 worth $5,208,593,000 after purchasing an additional 867,180 shares during the period. Sanders Capital LLC lifted its position in shares of 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 purchasing an additional 97,277 shares in the last quarter. Parnassus Investments LLC boosted its stake in shares of The Cigna Group by 5.0% in the fourth 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. Finally, Dimensional Fund Advisors LP grew its holdings in shares of The Cigna Group by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,628,807 shares of the health services provider’s stock valued at $869,078,000 after purchasing an additional 150,765 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Insider Buying and Selling at The Cigna Group

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

The Cigna Group Trading Up 0.6 %

NYSE CI opened at $357.42 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.73. The firm has a 50-day moving average price of $346.59 and a 200 day moving average price of $344.83. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83. The stock has a market capitalization of $101.53 billion, a P/E ratio of 29.34, a P/E/G ratio of 1.09 and a beta of 0.50.

The Cigna Group (NYSE:CI) last released 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 Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The firm had revenue of $60.52 billion for the quarter, compared to the consensus estimate of $58.30 billion. During the same quarter in the previous year, the firm earned $6.13 earnings per share. The firm’s revenue was up 24.6% on a year-over-year basis. Equities research analysts expect that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, September 4th were paid a $1.40 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.57%. The Cigna Group’s payout ratio is 45.98%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CI shares. Jefferies Financial Group upped their price target on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a report on Tuesday. Stephens reaffirmed an “overweight” rating and issued a $410.00 target price on shares of The Cigna Group in a report on Friday, August 2nd. Barclays boosted their price target on shares of The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. 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. Finally, Baird R W upgraded The Cigna Group to a “strong-buy” rating in a research note on Thursday, May 30th. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, The Cigna Group presently has an average rating of “Buy” and a consensus 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.