Capital Investment Advisors LLC Raises Position in The Cigna Group (NYSE:CI)

Capital Investment Advisors LLC increased its position in The Cigna Group (NYSE:CI) by 2.9% during the 2nd quarter, Holdings Channel reports. The firm owned 1,122 shares of the health services provider’s stock after acquiring an additional 32 shares during the quarter. Capital Investment Advisors LLC’s holdings in The Cigna Group were worth $371,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of CI. Seizert Capital Partners LLC raised its position in The Cigna Group by 195.8% in the fourth quarter. Seizert Capital Partners LLC now owns 32,150 shares of the health services provider’s stock valued at $9,627,000 after purchasing an additional 21,280 shares during the period. Roman Butler Fullerton & Co. boosted its position in The Cigna Group by 61.4% during the fourth quarter. Roman Butler Fullerton & Co. now owns 9,307 shares of the health services provider’s stock worth $2,772,000 after acquiring an additional 3,539 shares during the last quarter. TFO Wealth Partners LLC raised its stake in The Cigna Group by 98,980.0% during the fourth quarter. TFO Wealth Partners LLC now owns 4,954 shares of the health services provider’s stock worth $1,497,000 after purchasing an additional 4,949 shares during the period. Sapient Capital LLC purchased a new position in shares of The Cigna Group in the 4th quarter valued at $2,811,000. Finally, Hancock Whitney Corp increased its stake in The Cigna Group by 75.6% during the 1st quarter. Hancock Whitney Corp now owns 3,783 shares of the health services provider’s stock worth $1,374,000 after buying an additional 1,629 shares during the period. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Up 0.3 %

NYSE:CI traded up $1.12 during mid-day trading on Friday, hitting $336.14. 969,003 shares of the company’s stock traded hands, compared to its average volume of 1,580,063. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $365.71. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.71. The company has a market capitalization of $95.49 billion, a P/E ratio of 27.60, a P/E/G ratio of 1.02 and a beta of 0.52. The company has a fifty day moving average of $335.43 and a 200 day moving average of $339.59.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 EPS 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 return on equity of 17.83% and a net margin of 1.70%. The business’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same quarter last year, the firm earned $6.13 earnings per share. On average, analysts forecast that The Cigna Group will post 28.4 EPS for the current year.

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Wednesday, September 4th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.67%. The ex-dividend date is Wednesday, September 4th. The Cigna Group’s dividend payout ratio (DPR) is presently 45.98%.

Insider Activity at The Cigna Group

In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $348.71, for a total value of $2,073,429.66. Following the completion of the transaction, the senior vice president now directly owns 2,595 shares in the company, valued at approximately $904,902.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Noelle K. Eder sold 10,700 shares of The Cigna Group stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $348.47, for a total transaction of $3,728,629.00. Following the sale, the insider now owns 15,824 shares of the company’s stock, valued at $5,514,189.28. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of The Cigna Group stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $348.71, for a total transaction of $2,073,429.66. Following the completion of the transaction, the senior vice president now owns 2,595 shares in the company, valued at approximately $904,902.45. The disclosure for this sale can be found here. Insiders have sold 22,988 shares of company stock worth $7,975,726 in the last quarter. Company insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on CI. Baird R W upgraded shares of The Cigna Group to a “strong-buy” rating in a research report on Thursday, May 30th. StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a report on Wednesday, July 10th. Barclays raised their price objective on shares of The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, Stephens reissued an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a research note on Friday, August 2nd. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, The Cigna Group presently has an average rating of “Buy” and a consensus target price of $384.64.

The Cigna Group Company 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.