G&S Capital LLC Takes $240,000 Position in The Cigna Group (NYSE:CI)

G&S Capital LLC acquired a new position in shares of The Cigna Group (NYSE:CI) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 660 shares of the health services provider’s stock, valued at approximately $240,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Valley National Advisers Inc. boosted its stake in shares of The Cigna Group by 50.3% during the 3rd quarter. Valley National Advisers Inc. now owns 1,010 shares of the health services provider’s stock worth $289,000 after buying an additional 338 shares during the last quarter. Samalin Investment Counsel LLC grew its stake in The Cigna Group by 7.5% in the third quarter. Samalin Investment Counsel LLC now owns 1,147 shares of the health services provider’s stock valued at $328,000 after purchasing an additional 80 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of The Cigna Group by 106.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 11,892 shares of the health services provider’s stock worth $3,402,000 after purchasing an additional 6,118 shares during the last quarter. Morningstar Investment Services LLC raised its stake in shares of The Cigna Group by 1.6% during the 3rd quarter. Morningstar Investment Services LLC now owns 45,120 shares of the health services provider’s stock worth $13,099,000 after purchasing an additional 715 shares in the last quarter. Finally, Cape Cod Five Cents Savings Bank grew its stake in shares of The Cigna Group by 402.1% in the third quarter. Cape Cod Five Cents Savings Bank now owns 5,568 shares of the health services provider’s stock valued at $1,593,000 after buying an additional 4,459 shares in the last quarter. 86.99% of the stock is owned by institutional investors.

The Cigna Group Price Performance

NYSE:CI opened at $334.26 on Friday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market cap of $94.95 billion, a price-to-earnings ratio of 27.44, a P/E/G ratio of 1.03 and a beta of 0.53. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $365.71. The firm’s 50-day simple moving average is $341.96 and its 200 day simple moving average is $332.69.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share for the quarter, beating analysts’ consensus estimates of $6.17 by $0.30. The company had revenue of $57.25 billion during the quarter, compared to the consensus estimate of $56.59 billion. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The firm’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period in the previous year, the business earned $5.41 earnings per share. As a group, sell-side analysts predict that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th were issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend was Tuesday, June 4th. The Cigna Group’s dividend payout ratio (DPR) is currently 45.98%.

Insider Transactions at The Cigna Group

In related news, insider Brian C. Evanko sold 4,795 shares of the company’s stock in a transaction dated 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 owns 39,923 shares of the company’s stock, valued at $13,773,834.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other The Cigna Group news, insider Brian C. Evanko sold 4,795 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 39,923 shares of the company’s stock, valued at approximately $13,773,834.23. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Elder Granger sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $338.08, for a total transaction of $338,080.00. Following the sale, the director now directly owns 5,471 shares of the company’s stock, valued at approximately $1,849,635.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,988 shares of company stock valued at $7,975,726. 0.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CI has been the topic of several analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a research report on Wednesday, June 12th. Baird R W upgraded shares of The Cigna Group to a “strong-buy” rating in a research note on Thursday, May 30th. Morgan Stanley reissued an “overweight” rating and set a $392.00 price target (up previously from $382.00) on shares of The Cigna Group in a research report on Monday, March 4th. StockNews.com cut The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 12th. Finally, Piper Sandler assumed coverage on The Cigna Group in a report on Wednesday. They set an “overweight” rating and a $400.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $376.20.

About The Cigna Group

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.