5,051 Shares of Cigna Group $CI Acquired by McKinney Capital Management LLC

McKinney Capital Management LLC purchased a new position in Cigna Group (NYSE:CI) during the 3rd quarter, HoldingsChannel reports. The firm purchased 5,051 shares of the health services provider’s stock, valued at approximately $1,373,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. GQG Partners LLC bought a new position in shares of Cigna Group during the 2nd quarter valued at about $1,628,918,000. Bank of America Corp DE bought a new stake in shares of Cigna Group in the 2nd quarter worth approximately $827,692,000. Legal & General Group Plc bought a new stake in shares of Cigna Group in the 2nd quarter worth approximately $542,779,000. The Manufacturers Life Insurance Company bought a new stake in shares of Cigna Group in the 2nd quarter worth approximately $241,312,000. Finally, Aberdeen Group plc lifted its stake in Cigna Group by 389.6% during the third quarter. Aberdeen Group plc now owns 1,078,857 shares of the health services provider’s stock valued at $283,907,000 after purchasing an additional 858,488 shares during the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

Cigna Group News Roundup

These are some of the CI news items that stood out recently:

• Positive Sentiment: Wells Fargo raised its price target from $307; reports give different new targets of $325 and $335, while keeping an equal-weight rating. Jefferies also lifted its target from $288 to $304, but maintained a hold rating. Wells Fargo target report Wells Fargo alternate target report Jefferies target report
• Positive Sentiment: Coverage points to a raised earnings outlook following a strong third quarter, which could improve expectations for future results. CIBC also included Cigna in a defensive stock-pick list. Cigna earnings outlook CIBC defensive stock-pick list
• Neutral Sentiment: Analyst sentiment remains moderately bullish overall, although coverage notes Cigna has lagged industry peers and the broader market. Analyst sentiment overview

Wall Street Analyst Weigh In

CI has been the subject of a number of research reports. Jefferies Financial Group raised their target price on shares of Cigna Group from $288.00 to $304.00 and gave the stock a “hold” rating in a report on Thursday. Sanford C. Bernstein lifted their price target on shares of Cigna Group from $387.00 to $390.00 and gave the stock an “outperform” rating in a research report on Wednesday. Robert W. Baird set a $362.00 price target on Cigna Group in a report on Friday, July 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of Cigna Group in a research report on Thursday, August 27th. Finally, UBS Group reissued a “buy” rating on shares of Cigna Group in a research note on Thursday, October 1st. Fourteen investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $336.90.

Insider Transactions at Cigna Group

In related news, insider Everett Neville sold 617 shares of the firm’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $284.05, for a total transaction of $175,258.85. Following the completion of the sale, the insider directly owned 5,053 shares in the company, valued at approximately $1,435,304.65. This trade represents a 10.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Nicole S. Jones sold 2,677 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $279.61, for a total transaction of $748,515.97. Following the transaction, the insider directly owned 25,880 shares in the company, valued at $7,236,306.80. The trade was a 9.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is owned by corporate insiders.

Cigna Group Stock Up 0.2%

Shares of CI stock traded up $0.52 on Friday, reaching $296.79. 1,442,187 shares of the company’s stock traded hands, compared to its average volume of 1,681,560. The company has a market capitalization of $78.21 billion, a P/E ratio of 13.10, a price-to-earnings-growth ratio of 1.11 and a beta of 0.25. Cigna Group has a 12-month low of $257.85 and a 12-month high of $318.05. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.74 and a current ratio of 0.74. The business’s 50 day moving average price is $287.53 and its two-hundred day moving average price is $282.70.

Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, November 5th. The health services provider reported $7.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.52 by $0.46. The firm had revenue of $73.79 billion during the quarter, compared to the consensus estimate of $72.64 billion. Cigna Group had a return on equity of 19.57% and a net margin of 2.09%. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the prior year, the business earned $7.83 EPS. On average, equities analysts forecast that Cigna Group will post 30.71 earnings per share for the current year.

Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Thursday, December 3rd will be issued a $1.56 dividend. The ex-dividend date is Thursday, December 3rd. This represents a $6.24 dividend on an annualized basis and a dividend yield of 2.1%. Cigna Group’s dividend payout ratio is currently 27.54%.

Cigna Group Company Profile

The Cigna Group is a global health services company that provides health insurance and related services through its Cigna Healthcare and Evernorth Health Services businesses. Cigna Healthcare offers medical, dental, behavioral health and other coverage and services to employers, individuals and government-program members. Evernorth provides pharmacy benefit management, specialty pharmacy, care delivery and other health services. Its offerings include prescription drug benefits and services for people with complex or chronic conditions.