Forsta AP Fonden Has $31.04 Million Holdings in The Cigna Group (NYSE:CI)

Forsta AP Fonden grew its position in The Cigna Group (NYSE:CI) by 14.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,600 shares of the health services provider’s stock after buying an additional 11,300 shares during the quarter. Forsta AP Fonden’s holdings in The Cigna Group were worth $31,041,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in CI. Mirae Asset Global Investments Co. Ltd. boosted its position in The Cigna Group by 11.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,058 shares of the health services provider’s stock worth $12,190,000 after acquiring an additional 3,464 shares during the period. Lyell Wealth Management LP lifted its position in shares of The Cigna Group by 13.2% in the third quarter. Lyell Wealth Management LP now owns 11,340 shares of the health services provider’s stock worth $3,929,000 after purchasing an additional 1,318 shares in the last quarter. Trueblood Wealth Management LLC acquired a new stake in shares of The Cigna Group during the third quarter worth approximately $216,000. Ballentine Partners LLC grew its position in The Cigna Group by 9.8% during the third quarter. Ballentine Partners LLC now owns 7,726 shares of the health services provider’s stock valued at $2,677,000 after purchasing an additional 691 shares in the last quarter. Finally, Busey Bank increased its stake in The Cigna Group by 3.1% in the 3rd quarter. Busey Bank now owns 52,708 shares of the health services provider’s stock valued at $18,260,000 after buying an additional 1,607 shares during the period. 86.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at The Cigna Group

In related news, Director William J. Delaney III sold 2,691 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $342.68, for a total transaction of $922,151.88. Following the transaction, the director now directly owns 17,539 shares in the company, valued at $6,010,264.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lifted 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. Cantor Fitzgerald restated an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a research note on Wednesday. Barclays raised their price target on The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Finally, Stephens reaffirmed an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a research report on Friday, August 2nd. One equities research 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $392.79.

The Cigna Group Stock Performance

Shares of NYSE:CI traded down $1.39 during midday trading on Friday, hitting $316.85. The company’s stock had a trading volume of 1,390,535 shares, compared to its average volume of 1,501,591. 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 stock’s 50 day simple moving average is $349.48 and its 200 day simple moving average is $343.22. The stock has a market capitalization of $90.01 billion, a price-to-earnings ratio of 26.01, a PEG ratio of 1.05 and a beta of 0.50. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $370.83.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.42 by $0.30. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The firm had revenue of $60.52 billion for the quarter, compared to analyst estimates of $58.30 billion. During the same quarter last year, the firm posted $6.13 EPS. The company’s revenue was up 24.6% on a year-over-year basis. As a group, research analysts anticipate that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s dividend payout ratio is currently 45.98%.

About The Cigna Group

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.