Rhumbline Advisers Has $192.77 Million Stock Position in The Cigna Group (NYSE:CI)

Rhumbline Advisers lifted its stake in shares of The Cigna Group (NYSE:CI - Free Report) by 0.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 585,923 shares of the health services provider's stock after purchasing an additional 4,423 shares during the quarter. Rhumbline Advisers owned about 0.22% of The Cigna Group worth $192,769,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Fifth Third Wealth Advisors LLC grew its holdings in The Cigna Group by 2.3% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,626 shares of the health services provider's stock worth $535,000 after buying an additional 36 shares in the last quarter. IFG Advisors LLC bought a new position in The Cigna Group in the 1st quarter worth approximately $230,000. Rothschild Investment LLC grew its holdings in The Cigna Group by 10.3% in the 1st quarter. Rothschild Investment LLC now owns 738 shares of the health services provider's stock worth $243,000 after buying an additional 69 shares in the last quarter. Red Spruce Capital LLC grew its holdings in The Cigna Group by 2.1% in the 1st quarter. Red Spruce Capital LLC now owns 9,201 shares of the health services provider's stock worth $3,027,000 after buying an additional 185 shares in the last quarter. Finally, Parallel Advisors LLC grew its holdings in The Cigna Group by 7.7% in the 1st quarter. Parallel Advisors LLC now owns 3,405 shares of the health services provider's stock worth $1,120,000 after buying an additional 242 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on CI shares. Barclays increased their price target on The Cigna Group from $382.00 to $385.00 and gave the company an "overweight" rating in a research note on Monday. Truist Financial increased their price target on The Cigna Group from $385.00 to $405.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Wall Street Zen raised The Cigna Group from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. Mizuho increased their price target on The Cigna Group from $360.00 to $384.00 and gave the company an "outperform" rating in a research note on Wednesday, April 9th. Finally, Morgan Stanley raised their price objective on The Cigna Group from $379.00 to $390.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $380.39.

The Cigna Group Stock Up 0.6%

Shares of NYSE:CI traded up $1.71 during midday trading on Thursday, hitting $311.83. 254,246 shares of the stock were exchanged, compared to its average volume of 1,686,448. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The business's fifty day simple moving average is $324.14 and its two-hundred day simple moving average is $309.30. The company has a market capitalization of $83.30 billion, a PE ratio of 25.48, a P/E/G ratio of 0.98 and a beta of 0.47.

The Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.35 by $0.39. The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. The business had revenue of $65.45 billion during the quarter, compared to analyst estimates of $60.39 billion. During the same period last year, the company earned $6.47 earnings per share. The Cigna Group's quarterly revenue was up 14.4% compared to the same quarter last year. As a group, research analysts predict that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be issued a dividend of $1.51 per share. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $6.04 annualized dividend and a yield of 1.94%. The Cigna Group's dividend payout ratio (DPR) is currently 33.44%.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, Director Elder Granger sold 2,376 shares of the firm's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $310.35, for a total transaction of $737,391.60. Following the transaction, the director now directly owns 5,471 shares in the company, valued at $1,697,924.85. This trade represents a 30.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Noelle K. Eder sold 9,944 shares of The Cigna Group stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $320.00, for a total value of $3,182,080.00. Following the completion of the transaction, the insider now owns 13,406 shares in the company, valued at $4,289,920. The trade was a 42.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.70% of the company's stock.

The Cigna Group Profile

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.