Signet Financial Management LLC Purchases 39 Shares of The Cigna Group (NYSE:CI)

Signet Financial Management LLC grew its holdings in shares of The Cigna Group (NYSE:CI) by 0.5% during the first quarter, HoldingsChannel reports. The institutional investor owned 7,607 shares of the health services provider’s stock after buying an additional 39 shares during the period. Signet Financial Management LLC’s holdings in The Cigna Group were worth $2,763,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Wealthcare Advisory Partners LLC grew its stake in 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 in the last quarter. G&S Capital LLC bought a new stake in The Cigna Group during the 1st quarter valued at $240,000. Sovereign Financial Group Inc. purchased a new stake in shares of The Cigna Group in the 1st quarter worth $206,000. Future Financial Wealth Managment LLC purchased a new position in shares of The Cigna Group during the first quarter valued at $200,000. Finally, Atlas Capital Advisors LLC raised its holdings in shares of The Cigna Group by 182.7% in the first quarter. Atlas Capital Advisors LLC now owns 2,934 shares of the health services provider’s stock valued at $1,066,000 after acquiring an additional 1,896 shares in the last quarter. 86.99% of the stock is owned by institutional investors.

Insider Transactions at The Cigna Group

In related news, insider Brian C. Evanko sold 4,795 shares of The Cigna Group 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 completion of the transaction, the insider now owns 39,923 shares in the company, valued at $13,773,834.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Noelle K. Eder sold 10,700 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $348.47, for a total transaction of $3,728,629.00. Following the sale, the insider now directly owns 15,824 shares in the company, valued at $5,514,189.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brian C. Evanko sold 4,795 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 39,923 shares in the company, valued at $13,773,834.23. The disclosure for this sale can be found here. Insiders sold a total of 22,988 shares of company stock worth $7,975,726 over the last ninety days. Company insiders own 0.60% of the company’s stock.

The Cigna Group Price Performance

CI traded down $3.03 during trading on Thursday, hitting $334.55. The company’s stock had a trading volume of 226,040 shares, compared to its average volume of 1,605,853. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $95.04 billion, a price-to-earnings ratio of 27.52, a P/E/G ratio of 1.03 and a beta of 0.53. The business’s fifty day simple moving average is $341.96 and its 200 day simple moving average is $332.69. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $365.71.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.17 by $0.30. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The business had revenue of $57.25 billion for the quarter, compared to analyst estimates of $56.59 billion. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same quarter last year, the business earned $5.41 earnings per share. On average, equities research analysts forecast that The Cigna Group will post 28.47 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th were issued a $1.40 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.67%. The Cigna Group’s payout ratio is currently 45.98%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a research report on Wednesday, June 12th. StockNews.com downgraded The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 12th. Oppenheimer raised their price objective on The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Morgan Stanley reiterated an “overweight” rating and issued a $392.00 target price (up from $382.00) on shares of The Cigna Group in a report on Monday, March 4th. Finally, JPMorgan Chase & Co. raised their price target on shares of The Cigna Group from $432.00 to $435.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $376.20.

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.