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

Key Points

• Quantinno Capital Management increased its Cigna stake by 30% in the first quarter, adding 47,304 shares to own 205,037 shares valued at approximately $54.69 million. Institutional investors and hedge funds collectively own 86.99% of the company.
• Cigna reported quarterly earnings of $7.79 per share, exceeding estimates of $7.60, while revenue rose 4.6% year over year to $68.52 billion. The company also declared a quarterly dividend of $1.56, representing a 2.1% annualized yield.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $338.80, compared with shares trading near $297.42. Recent ratings were mixed, including upgrades and target-price increases as well as a Barclays downgrade to “equal weight.”

Quantinno Capital Management LP lifted its stake in Cigna Group (NYSE:CI - Free Report) by 30.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 205,037 shares of the health services provider's stock after acquiring an additional 47,304 shares during the period. Quantinno Capital Management LP owned 0.08% of Cigna Group worth $54,694,000 at the end of the most recent reporting period.

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

Cigna Group Stock Down 1.2%

Shares of CI opened at $297.42 on Thursday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.69. The company has a 50-day moving average price of $286.64 and a two-hundred day moving average price of $281.06. The stock has a market cap of $78.68 billion, a price-to-earnings ratio of 12.61, a P/E/G ratio of 1.16 and a beta of 0.29. Cigna Group has a 12 month low of $239.51 and a 12 month high of $315.47.

Cigna Group (NYSE:CI - Get Free Report) last posted its earnings results on Thursday, April 30th. The health services provider reported $7.79 earnings per share for the quarter, topping the consensus estimate of $7.60 by $0.19. The business had revenue of $68.52 billion for the quarter, compared to analyst estimates of $66.29 billion. Cigna Group had a net margin of 2.26% and a return on equity of 19.75%. The firm's quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.74 EPS. Equities analysts predict that Cigna Group will post 30.39 EPS for the current fiscal year.

Cigna Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

CI has been the subject of several recent analyst reports. Wolfe Research restated an "outperform" rating and set a $315.00 target price on shares of Cigna Group in a research note on Tuesday, June 16th. Piper Sandler dropped their price target on Cigna Group from $370.00 to $346.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 3rd. Weiss Ratings reiterated a "hold (c)" rating on shares of Cigna Group in a report on Monday, June 1st. Barclays cut Cigna Group from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $310.00 to $304.00 in a research report on Tuesday, May 26th. Finally, Wells Fargo & Company raised their price objective on shares of Cigna Group from $300.00 to $305.00 and gave the stock an "equal weight" rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $338.80.

Insider Transactions at Cigna Group

In other Cigna Group news, CAO Jamie G. Kates sold 899 shares of the business's stock in a transaction dated Friday, June 12th. The shares were 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 directly owned 2,368 shares of the company's stock, valued at approximately $707,108.48. The trade was a 27.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO David Cordani sold 201,878 shares of the business's stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $292.82, for a total transaction 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 $10,054,560.34. This trade represents a 85.46% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.60% of the company's stock.

Cigna Group Profile

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.

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