BNP PARIBAS ASSET MANAGEMENT Holding SA acquires 3,519 shares of Cigna Group (NYSE:CI)

VaselineAugust 31, 2024

0 5 minutes read

BNP PARIBAS ASSET MANAGEMENT Holding SA boosted its holdings in shares of The Cigna Group (NYSE:CI – Free Report) by 2.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 174,403 shares of the health services provider’s stock after buying an additional 3,519 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding SA owned 0.06% of The Cigna Group worth $57,652,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Crossmark Global Holdings Inc. raised its stake in shares of The Cigna Group by 1.1% in the second quarter. Crossmark Global Holdings Inc. now owns 119,650 shares of the health services provider’s stock worth $39,553,000 after purchasing an additional 1,263 shares in the last quarter. Crewe Advisors LLC raised its stake in shares of The Cigna Group by 225.5% in the second quarter. Crewe Advisors LLC now owns 905 shares of the health services provider’s stock valued at $299,000 after buying an additional 627 shares during the period. Center For Asset Management LLC boosted its stake in shares of The Cigna Group by 4.0% in the second quarter. Center For Asset Management LLC now owns 1,873 shares of the health services provider’s stock worth $619,000 after purchasing an additional 72 shares during the period. Panagora Asset Management Inc. grew its position in shares of The Cigna Group by 172.4% during the second quarter. Panagora Asset Management Inc. now owns 407,252 shares of the health services provider’s stock worth $134,625,000 after purchasing an additional 257,758 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of The Cigna Group by 3.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 173,656 shares of the health services provider’s stock worth $57,405,000 after acquiring an additional 5,968 shares during the period. 86.99% of shares are owned by institutional investors and hedge funds.

The Wall Street analyst weighs in

A number of analysts have weighed in on CI shares. Piper Sandler began coverage on shares of The Cigna Group in a research report on Wednesday, June 26th. They set an “overweight” rating and a $400.00 price target for the company. Baird RW upgraded shares of The Cigna Group to a “strong-buy” rating in a report on Thursday, May 30th. Robert W. Baird started coverage on The Cigna Group in a report on Thursday, May 30th. They set an “outperform” rating and a $388.00 price target for the company. Stephens reissued an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a research report on Friday, August 2nd. Finally, Barclays upped their target price on The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. Cigna Group currently has an average rating of “Buy” and an average target price of $384.86, based on data from MarketBeat.com.

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Cigna Group shares rose 0.2%

CI opened at $361.75 on Friday. Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $365.71. The firm has a market cap of $102.76 billion, a P/E ratio of 29.70, a PEG ratio of 1.02 and a beta of 0.52. The company’s 50-day moving average is $337.80 and its 200-day moving average is $342.69. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.71, and a quick ratio of 0.71.

Cigna Group (NYSE:CI – Get Free Report ) last announced its earnings results on Thursday, August 1st. The healthcare provider reported $6.72 earnings per share for the quarter, topping analysts’ consensus estimates of $6.42 by $0.30. The firm had revenue of $60.52 billion for the quarter, compared to the consensus estimate of $58.30 billion. Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The company’s revenue was up 24.6% compared to the same quarter last year. In the same quarter last year, the business earned $6.13 EPS. research analysts expect that The Cigna Group will post 28.4 earnings per share for the current fiscal year.

Cigna Group announces dividends

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Wednesday, September 4th will be paid a dividend of $1.40 per share. The ex-dividend date is Wednesday, September 4. This represents an annualized dividend of $5.60 and a yield of 1.55%. Cigna Group’s payout ratio is currently 45.98%.

Insider buying and selling

In other The Cigna Group news, insider Brian C. Evanko sold 4,795 shares of the stock in a transaction on Monday, June 24th. The shares were sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the completion of the transaction, the insider now directly owns 39,923 shares of the company’s stock, valued at $13,773,834.23. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. In other news, insider Brian C. Evanko sold 4,795 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $345.01, for a total value of $1,654,322.95. Following the sale, the insider now owns 39,923 shares of the company’s stock, valued at $13,773,834.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC’s website. Also, 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 transaction, the director now owns 17,539 shares of the company’s stock, valued at $6,010,264.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,033 shares of company stock worth $3,095,820. Insiders own 0.60% of the company’s shares.

Cigna Group Company Profile

(Free report)

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 timely health services, including pharmacy benefits, home delivery pharmacy, specialty pharmacy, distribution and delivery solutions, and care management for health plans, employers, government organizations and medical service providers.