&Partners Grows Holdings in The Cigna Group (NYSE:CI)

&Partners grew its position in shares of The Cigna Group (NYSE:CI) by 332.4% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 3,909 shares of the health services provider’s stock after buying an additional 3,005 shares during the quarter. &Partners’ holdings in The Cigna Group were worth $1,292,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CI. Silicon Valley Capital Partners increased its holdings in The Cigna Group by 100.0% in the 1st quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock worth $25,000 after acquiring an additional 35 shares during the last quarter. Cedar Wealth Management LLC purchased a new position in The Cigna Group in the 1st quarter worth approximately $29,000. Raleigh Capital Management Inc. increased its holdings in shares of The Cigna Group by 69.5% in the 4th quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock worth $30,000 after buying an additional 41 shares during the last quarter. TruNorth Capital Management LLC purchased a new stake in shares of The Cigna Group during the 2nd quarter valued at $33,000. Finally, Pineridge Advisors LLC bought a new stake in shares of The Cigna Group during the 4th quarter worth $37,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Performance

Shares of CI opened at $353.99 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.73. The stock has a market cap of $100.56 billion, a P/E ratio of 29.06, a P/E/G ratio of 1.02 and a beta of 0.52. The business’s 50 day moving average price is $336.09 and its 200-day moving average price is $341.99. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $365.71.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.42 by $0.30. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The company had revenue of $60.52 billion for the quarter, compared to analysts’ expectations of $58.30 billion. During the same quarter in the previous year, the business posted $6.13 EPS. The Cigna Group’s revenue was up 24.6% compared to the same quarter last year. Equities research analysts anticipate that The Cigna Group will post 28.4 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Wednesday, September 4th. The Cigna Group’s dividend payout ratio is currently 45.98%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. lifted their price target on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research note on Wednesday. Stephens reaffirmed an “overweight” rating and issued a $410.00 target price on shares of The Cigna Group in a research note on Friday, August 2nd. Robert W. Baird assumed coverage on shares of The Cigna Group in a research note on Thursday, May 30th. They set an “outperform” rating and a $388.00 price target on the stock. Baird R W raised shares of The Cigna Group to a “strong-buy” rating in a research note on Thursday, May 30th. Finally, 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 note on Friday, May 3rd. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $384.86.

Insider Activity

In other The Cigna Group news, Director Elder Granger sold 1,000 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $338.08, for a total transaction of $338,080.00. Following the transaction, the director now owns 5,471 shares in the company, valued at approximately $1,849,635.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other The Cigna Group news, Director Elder Granger sold 1,000 shares of the stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $338.08, for a total value of $338,080.00. Following the transaction, the director now owns 5,471 shares of the company’s stock, valued at $1,849,635.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director William J. Delaney III sold 2,691 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $342.68, for a total value of $922,151.88. Following the sale, 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. Insiders have sold a total of 9,033 shares of company stock valued at $3,095,820 over the last ninety days. 0.60% of the stock is currently owned by corporate insiders.

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.