Fulcrum Asset Management LLP Acquires 8,316 Shares of Cigna Group $CI

Key Points

• Fulcrum Asset Management increased its Cigna stake by 127.4% in the third quarter, adding 8,316 shares to hold 14,846 shares valued at about $4.09 million. Institutional investors and hedge funds own 86.99% of Cigna’s stock.
• Cigna reported quarterly adjusted earnings of $7.98 per share, beating the $7.52 consensus estimate; revenue of $73.79 billion also topped forecasts and rose 5.6% year over year.
• Analysts’ consensus rating is “Moderate Buy,” with a consensus price target of $336.20. Cigna also announced a quarterly dividend of $1.56 per share.

Fulcrum Asset Management LLP increased its holdings in shares of Cigna Group (NYSE:CI - Free Report) by 127.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,846 shares of the health services provider's stock after buying an additional 8,316 shares during the period. Fulcrum Asset Management LLP's holdings in Cigna Group were worth $4,087,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CI. Allspring Global Investments Holdings LLC lifted its holdings in shares of Cigna Group by 7.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 12,648 shares of the health services provider's stock valued at $3,389,000 after purchasing an additional 906 shares in the last quarter. RHL Group LLC raised its position in Cigna Group by 167.1% in the 3rd quarter. RHL Group LLC now owns 195 shares of the health services provider's stock valued at $53,000 after buying an additional 122 shares during the last quarter. Hohimer Wealth Management LLC raised its position in Cigna Group by 18.0% in the 3rd quarter. Hohimer Wealth Management LLC now owns 20,408 shares of the health services provider's stock valued at $5,548,000 after buying an additional 3,119 shares during the last quarter. University of Texas Texas AM Investment Management Co. lifted its stake in Cigna Group by 80.6% during the 3rd quarter. University of Texas Texas AM Investment Management Co. now owns 437 shares of the health services provider's stock valued at $119,000 after acquiring an additional 195 shares in the last quarter. Finally, M Holdings Securities Inc. bought a new position in Cigna Group during the 3rd quarter valued at $215,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cigna Group

In other Cigna Group news, insider Everett Neville sold 617 shares of the firm's stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $284.05, for a total value of $175,258.85. Following the completion of the transaction, the insider directly owned 5,053 shares of the company's stock, valued at $1,435,304.65. This trade represents a 10.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Nicole Jones sold 2,677 shares of the business's stock in a transaction 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 owned 25,880 shares of the company's stock, valued at $7,236,306.80. This trade represents a 9.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CI has been the subject of several analyst reports. Royal Bank Of Canada reiterated an "outperform" rating and issued a $337.00 price objective on shares of Cigna Group in a research note on Thursday, October 1st. Jefferies Financial Group lowered Cigna Group from a "buy" rating to a "hold" rating and reduced their target price for the company from $336.00 to $307.00 in a report on Tuesday, August 4th. Barclays increased their price target on Cigna Group from $310.00 to $320.00 and gave the company an "equal weight" rating in a research report on Monday. Robert W. Baird set a $362.00 price target on Cigna Group in a report on Friday, July 31st. Finally, UBS Group reissued a "buy" rating on shares of Cigna Group in a research report on Thursday, October 1st. Fourteen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, Cigna Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $336.20.

Cigna Group Stock Up 0.6%

CI stock opened at $295.37 on Tuesday. The stock has a 50-day simple moving average of $286.14 and a two-hundred day simple moving average of $282.27. Cigna Group has a twelve month low of $256.52 and a twelve month high of $318.05. The firm has a market capitalization of $78.05 billion, a PE ratio of 13.04, a PEG ratio of 1.03 and a beta of 0.25. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.68.

Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings results on Thursday, November 5th. The health services provider reported $7.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.52 by $0.46. Cigna Group had a net margin of 2.27% and a return on equity of 19.75%. The firm had revenue of $73.79 billion for the quarter, compared to the consensus estimate of $72.64 billion. During the same period in the prior year, the firm posted $7.83 earnings per share. The company's revenue for the quarter was up 5.6% on a year-over-year basis. On average, equities analysts predict that Cigna Group will post 30.62 EPS for the current fiscal year.

Cigna Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Thursday, December 3rd will be paid a $1.56 dividend. The ex-dividend date is Thursday, December 3rd. This represents a $6.24 annualized dividend and a 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.

The company serves customers in the United States and select international markets.

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