Breakwater Capital Group Raises Stock Position in The Cigna Group (NYSE:CI)

Breakwater Capital Group increased its holdings in shares of The Cigna Group (NYSE:CI) by 3.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,183 shares of the health services provider’s stock after purchasing an additional 39 shares during the period. Breakwater Capital Group’s holdings in The Cigna Group were worth $430,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Optas LLC raised its holdings in shares of The Cigna Group by 1.7% during the first quarter. Optas LLC now owns 5,022 shares of the health services provider’s stock worth $1,824,000 after purchasing an additional 86 shares during the last quarter. Red Door Wealth Management LLC increased its holdings in The Cigna Group by 3.1% in the first quarter. Red Door Wealth Management LLC now owns 3,435 shares of the health services provider’s stock valued at $1,248,000 after buying an additional 102 shares in the last quarter. Cornerstone Wealth Group LLC purchased a new position in The Cigna Group in the first quarter valued at $1,095,000. New Mexico Educational Retirement Board increased its holdings in The Cigna Group by 22.2% in the first quarter. New Mexico Educational Retirement Board now owns 18,747 shares of the health services provider’s stock valued at $6,809,000 after buying an additional 3,400 shares in the last quarter. Finally, Vicus Capital purchased a new position in The Cigna Group in the first quarter valued at $225,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on CI. Barclays began coverage on shares of The Cigna Group in a report on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 price objective for the company. Oppenheimer lifted their target price on shares of The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Robert W. Baird assumed coverage on shares of The Cigna Group in a research report on Thursday, May 30th. They issued an “outperform” rating and a $388.00 target price on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $392.00 target price (up previously from $382.00) on shares of The Cigna Group in a research report on Monday, March 4th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a research report on Wednesday, June 12th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, The Cigna Group presently has an average rating of “Buy” and a consensus target price of $376.20.

The Cigna Group Price Performance

Shares of CI opened at $330.57 on Monday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.75. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $365.71. The company has a market cap of $93.91 billion, a P/E ratio of 27.14, a PEG ratio of 1.01 and a beta of 0.53. The firm’s 50 day moving average price is $341.23 and its 200 day moving average price is $333.41.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, topping 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 company had revenue of $57.25 billion during the quarter, compared to analysts’ expectations of $56.59 billion. During the same quarter in the previous year, the business posted $5.41 EPS. The firm’s revenue was up 23.2% on a year-over-year basis. On average, research analysts forecast that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th were issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend was Tuesday, June 4th. The Cigna Group’s dividend payout ratio (DPR) is presently 45.98%.

Insiders Place Their Bets

In other The Cigna Group news, insider Brian C. Evanko sold 4,795 shares of the business’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 transaction of $1,654,322.95. Following the completion of the transaction, the insider now owns 39,923 shares in the company, valued at approximately $13,773,834.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Elder Granger sold 547 shares of the company’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $331.38, for a total value of $181,264.86. Following the completion of the transaction, the director now owns 5,471 shares in the company, valued at approximately $1,812,979.98. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Brian C. Evanko sold 4,795 shares of the company’s 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 owns 39,923 shares of the company’s stock, valued at approximately $13,773,834.23. The disclosure for this sale can be found here. Insiders sold 22,988 shares of company stock worth $7,975,726 in the last 90 days. Corporate insiders own 0.60% of the company’s stock.

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.