Mutual of America Capital Management LLC Purchases 902 Shares of The Cigna Group (NYSE:CI)

Mutual of America Capital Management LLC increased its position in shares of The Cigna Group (NYSE:CI) by 2.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,895 shares of the health services provider’s stock after purchasing an additional 902 shares during the period. Mutual of America Capital Management LLC’s holdings in The Cigna Group were worth $14,510,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CI. Vanguard Group Inc. raised 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 valued at $9,731,000,000 after purchasing an additional 2,017,333 shares during the period. Price T Rowe Associates Inc. MD grew 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 valued at $5,208,593,000 after acquiring an additional 867,180 shares in the last quarter. Focused Investors Fund L P purchased a new position in The Cigna Group during the first quarter valued at $205,529,000. Swedbank AB purchased a new position in The Cigna Group during the first quarter valued at $161,300,000. Finally, Assenagon Asset Management S.A. grew its stake in The Cigna Group by 286.1% during the second quarter. Assenagon Asset Management S.A. now owns 392,673 shares of the health services provider’s stock valued at $129,806,000 after acquiring an additional 290,968 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CI has been the subject of several research analyst reports. Piper Sandler initiated coverage on shares of The Cigna Group in a research note on Wednesday, June 26th. They set an “overweight” rating and a $400.00 target price for the company. Robert W. Baird initiated coverage on shares of The Cigna Group in a research note on Thursday, May 30th. They set an “outperform” rating and a $388.00 target price for the company. Stephens reaffirmed an “overweight” rating and set a $410.00 target price on shares of The Cigna Group in a research note on Friday, August 2nd. JPMorgan Chase & Co. raised 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 note on Wednesday, August 21st. Finally, Jefferies Financial Group lifted their price objective on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research note on Tuesday. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $392.79.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, 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 owns 39,923 shares in the company, valued at approximately $13,773,834.23. The sale was disclosed in a document filed 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 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 sale, the director now owns 17,539 shares in the company, valued at $6,010,264.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brian C. Evanko sold 4,795 shares of the stock in a transaction 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 sale, the insider now 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 company insiders.

The Cigna Group Trading Down 2.9 %

NYSE CI opened at $356.21 on Wednesday. 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 market cap of $101.19 billion, a PE ratio of 29.25, a price-to-earnings-growth ratio of 1.09 and a beta of 0.50. The company has a 50 day moving average price of $345.60 and a 200 day moving average price of $344.67. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $370.83.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $58.30 billion. During the same quarter in the previous year, the business posted $6.13 EPS. The Cigna Group’s revenue was up 24.6% on a year-over-year basis. As a group, sell-side analysts forecast that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Wednesday, September 4th will be paid a dividend of $1.40 per share. The ex-dividend date is 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%.

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.