Axecap Investments LLC Makes New Investment in The Cigna Group (NYSE:CI)

Axecap Investments LLC bought a new position in The Cigna Group (NYSE:CI) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,103 shares of the health services provider’s stock, valued at approximately $3,500,000. The Cigna Group comprises about 2.7% of Axecap Investments LLC’s investment portfolio, making the stock its 8th largest position.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP lifted its stake in shares of The Cigna Group by 240.8% in the 4th quarter. Wellington Management Group LLP now owns 16,674 shares of the health services provider’s stock worth $4,993,000 after acquiring an additional 11,782 shares during the period. Dynamic Advisor Solutions LLC lifted its stake in shares of The Cigna Group by 13.2% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 4,290 shares of the health services provider’s stock worth $1,558,000 after acquiring an additional 501 shares during the period. Sovereign Financial Group Inc. acquired a new stake in shares of The Cigna Group in the 1st quarter worth approximately $206,000. G&S Capital LLC acquired a new stake in shares of The Cigna Group in the 1st quarter worth approximately $240,000. Finally, Wealthcare Advisory Partners LLC lifted its stake in shares of The Cigna Group by 7.5% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 1,484 shares of the health services provider’s stock worth $539,000 after acquiring an additional 104 shares during the period. Institutional investors own 86.99% of the company’s stock.

Insider Transactions at The Cigna Group

In other news, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $342.68, for a total transaction of $922,151.88. Following the completion of the sale, the director now owns 17,539 shares in the company, valued at $6,010,264.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.60% of the stock is owned by corporate insiders.

The Cigna Group Trading Up 0.0 %

Shares of The Cigna Group stock opened at $317.61 on Thursday. The stock has a market capitalization of $90.22 billion, a P/E ratio of 26.08, a price-to-earnings-growth ratio of 1.05 and a beta of 0.50. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.73. The company has a 50-day simple moving average of $349.85 and a 200 day simple moving average of $343.40. The Cigna Group has a 12-month low of $253.95 and a 12-month high of $370.83.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, beating the consensus estimate of $6.42 by $0.30. The firm had revenue of $60.52 billion during the quarter, compared to analysts’ expectations of $58.30 billion. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The company’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter last year, the company posted $6.13 EPS. Research analysts expect that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 1.76%. The Cigna Group’s dividend payout ratio is 45.98%.

Wall Street Analyst Weigh In

Several analysts recently commented on CI shares. Piper Sandler started coverage on shares of The Cigna Group in a research note on Wednesday, June 26th. They set an “overweight” rating and a $400.00 target price for the company. Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a research note on Wednesday. Royal Bank of Canada reissued an “outperform” rating and set a $384.00 target price on shares of The Cigna Group in a research note on Monday, September 9th. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Finally, Stephens restated an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a research report on Friday, August 2nd. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $392.79.

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.