Quantinno Capital Management LP Has $54.69 Million Position in Cigna Group $CI

Quantinno Capital Management LP raised its position in Cigna Group (NYSE:CI) by 30.0% in the 1st quarter, Holdings Channel reports. The firm owned 205,037 shares of the health services provider’s stock after buying an additional 47,304 shares during the period. Quantinno Capital Management LP’s holdings in Cigna Group were worth $54,694,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wilkerson Advisory Group LLC acquired a new position in shares of Cigna Group in the 4th quarter valued at $25,000. Cedar Mountain Advisors LLC raised its stake in Cigna Group by 161.9% during the 1st quarter. Cedar Mountain Advisors LLC now owns 110 shares of the health services provider’s stock worth $29,000 after buying an additional 68 shares during the period. Kemnay Advisory Services Inc. acquired a new stake in Cigna Group during the 4th quarter worth $29,000. Prosperity Bancshares Inc bought a new position in Cigna Group during the fourth quarter worth about $29,000. Finally, Lodestone Wealth Management LLC acquired a new position in Cigna Group in the fourth quarter valued at about $32,000. 86.99% of the stock is owned by institutional investors.

Cigna Group Stock Down 1.2%

NYSE:CI opened at $297.42 on Thursday. The stock has a 50-day simple moving average of $286.64 and a 200 day simple moving average of $281.06. Cigna Group has a 52-week low of $239.51 and a 52-week high of $315.47. The company has a market cap of $78.68 billion, a PE ratio of 12.61, a PEG ratio of 1.16 and a beta of 0.29. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.73 and a current ratio of 0.73.

Cigna Group (NYSE:CI) last released its earnings results on Thursday, April 30th. The health services provider reported $7.79 EPS for the quarter, beating the consensus estimate of $7.60 by $0.19. Cigna Group had a return on equity of 19.75% and a net margin of 2.26%.The firm had revenue of $68.52 billion for the quarter, compared to analysts’ expectations of $66.29 billion. During the same quarter in the previous year, the business posted $6.74 EPS. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. On average, sell-side analysts expect that Cigna Group will post 30.39 EPS for the current fiscal year.

Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Tuesday, September 8th will be issued a $1.56 dividend. The ex-dividend date is Tuesday, September 8th. This represents a $6.24 dividend on an annualized basis and a dividend yield of 2.1%. Cigna Group’s dividend payout ratio (DPR) is 26.45%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Royal Bank Of Canada increased their price target on Cigna Group from $333.00 to $337.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. Wolfe Research reiterated an “outperform” rating and issued a $315.00 price objective on shares of Cigna Group in a research report on Tuesday, June 16th. Wells Fargo & Company increased their target price on Cigna Group from $300.00 to $305.00 and gave the stock an “equal weight” rating in a research note on Friday, May 1st. Guggenheim raised their target price on shares of Cigna Group from $334.00 to $338.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Finally, The Goldman Sachs Group lifted their price target on shares of Cigna Group from $335.00 to $340.00 and gave the company a “buy” rating in a research note on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Cigna Group presently has an average rating of “Moderate Buy” and an average price target of $338.80.

Insiders Place Their Bets

In other news, CAO Jamie G. Kates sold 899 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $298.61, for a total value of $268,450.39. Following the completion of the transaction, the chief accounting officer owned 2,368 shares in the company, valued at $707,108.48. This trade represents a 27.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David Cordani sold 201,878 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $292.82, for a total value of $59,113,915.96. Following the completion of the transaction, the chief executive officer owned 34,337 shares of the company’s stock, valued at approximately $10,054,560.34. This represents a 85.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.60% of the company’s stock.

About Cigna Group

Cigna Group (NYSE: CI) is a global health services company that offers a broad portfolio of healthcare products and insurance solutions for individuals, employers, and governments. Its core businesses include medical and behavioral health plans, dental and vision coverage, pharmacy benefit management, and supplemental health products. Cigna serves a mix of commercial, Medicare, and Medicaid customers and provides workplace benefits such as group health plans and disability and life benefits for employers.

In addition to traditional insurance products, Cigna operates health services and care-delivery platforms designed to manage costs and improve outcomes.