4,230 Cigna Group $CI Shares Acquired by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. lifted its holdings in Cigna Group (NYSE:CI) by 9.8% in the third quarter, HoldingsChannel reports. The fund owned 47,447 shares of the health services provider’s stock after buying an additional 4,230 shares during the period. Rakuten Investment Management Inc.’s holdings in Cigna Group were worth $13,060,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. BlackRock Inc. raised its stake in Cigna Group by 3.7% in the second quarter. BlackRock Inc. now owns 23,438,250 shares of the health services provider’s stock worth $6,461,457,000 after buying an additional 840,098 shares in the last quarter. GQG Partners LLC purchased a new stake in shares of Cigna Group in the second quarter worth $1,628,918,000. Bank of America Corp DE grew its position in Cigna Group by 8.8% during the 1st quarter. Bank of America Corp DE now owns 3,182,083 shares of the health services provider’s stock valued at $848,821,000 after purchasing an additional 256,677 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Cigna Group by 10.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,426,218 shares of the health services provider’s stock valued at $647,008,000 after purchasing an additional 236,340 shares in the last quarter. Finally, Legal & General Group Plc bought a new stake in Cigna Group during the 2nd quarter valued at about $542,779,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

Cigna Group Trading Up 3.6%

Shares of CI opened at $306.01 on Thursday. Cigna Group has a 1-year low of $255.53 and a 1-year high of $316.27. The company has a 50-day moving average of $285.07 and a 200 day moving average of $281.91. The firm has a market capitalization of $80.86 billion, a price-to-earnings ratio of 12.66, a PEG ratio of 1.00 and a beta of 0.25. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.76 and a quick ratio of 0.76.

Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Thursday, December 3rd will be issued a $1.56 dividend. This represents a $6.24 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Thursday, December 3rd. Cigna Group’s payout ratio is presently 25.82%.

Insiders Place Their Bets

In other news, insider Nicole S. Jones sold 2,677 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $279.61, for a total transaction of $748,515.97. Following the completion of the transaction, the insider directly owned 25,880 shares in the company, valued at $7,236,306.80. This trade represents a 9.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Everett Neville sold 617 shares of the business’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $284.05, for a total transaction of $175,258.85. Following the sale, the insider owned 5,053 shares in the company, valued at $1,435,304.65. This trade represents a 10.88% 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. Corporate insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

CI has been the subject of a number of analyst reports. UBS Group reissued a “buy” rating on shares of Cigna Group in a research note on Thursday, October 1st. Wells Fargo & Company upped their target price on shares of Cigna Group from $305.00 to $307.00 and gave the stock an “equal weight” rating in a report on Friday, July 31st. Sanford C. Bernstein reiterated an “outperform” rating on shares of Cigna Group in a research note on Friday, October 2nd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $337.00 price target on shares of Cigna Group in a research note on Thursday, October 1st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Cigna Group in a report on Thursday, August 27th. Fourteen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, Cigna Group currently has an average rating of “Moderate Buy” and a consensus target price of $336.40.

Cigna Group News Roundup

Here are the key news stories impacting Cigna Group this week:

• Positive Sentiment: Cigna rose alongside Elevance Health as CVS fell sharply following its proposed breakup plan. The relative strength may indicate investors favored Cigna and other peers amid the sector reaction, though the reports do not identify a direct benefit to Cigna from CVS’s plan. CVS Tumbles 12% on Plan to Split Into Two Companies Despite Earnings Beat; Elevance Health Rises 4%, Cigna Climbs 3%
• Neutral Sentiment: Cigna’s gains since its Investor Day have put the focus on whether Thursday’s earnings report can sustain momentum. Analysts expect adjusted third-quarter EPS of $7.52, versus $7.83 a year earlier. Cigna Stock Has Gained Since Investor Day. Earnings Are Next.
• Negative Sentiment: Expectations for slower earnings growth pose a risk: pharmacy and premium growth may lift revenue, but lower Evernorth profits and higher medical costs could weigh on results. Investors will watch whether those headwinds are reflected in Cigna’s outlook. Can Pharmacy Growth Offset Evernorth’s Profit Decline in Cigna’s Q3?

Cigna Group Company Profile

The Cigna Group (NYSE: CI) is a global health services company that provides insurance coverage, health care benefits and related services. Its operations are primarily organized through Cigna Healthcare, which offers medical, pharmacy, dental, behavioral health and other benefit programs to employers, government organizations and individuals, primarily in the United States.

The company also operates Evernorth Health Services, a health services platform that includes pharmacy benefit management, specialty pharmacy, care management and health-care delivery capabilities.