Americana Partners LLC Purchases 58 Shares of The Cigna Group (NYSE:CI)

Americana Partners LLC increased its stake in shares of The Cigna Group (NYSE:CI) by 6.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,007 shares of the health services provider’s stock after acquiring an additional 58 shares during the quarter. Americana Partners LLC’s holdings in The Cigna Group were worth $333,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Silicon Valley Capital Partners boosted its stake in The Cigna Group by 100.0% during the first 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 in the last quarter. Cedar Wealth Management LLC bought a new position in The Cigna Group during the first quarter worth $29,000. Raleigh Capital Management Inc. raised its holdings in The Cigna Group by 69.5% during the fourth 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 acquired a new position in The Cigna Group during the second quarter worth $33,000. Finally, Pineridge Advisors LLC acquired a new position in The Cigna Group during the fourth quarter worth $37,000. 86.99% of the stock is owned by institutional investors.

The Cigna Group Stock Performance

NYSE CI opened at $361.81 on Friday. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $365.71. The company has a 50-day simple moving average of $338.24 and a 200 day simple moving average of $342.86. 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 $102.78 billion, a PE ratio of 29.71, a price-to-earnings-growth ratio of 1.02 and a beta of 0.52.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data 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 business had revenue of $60.52 billion during the quarter, compared to the consensus estimate of $58.30 billion. During the same quarter last year, the company posted $6.13 earnings per share. The firm’s quarterly revenue was up 24.6% compared to the same quarter last year. On average, research analysts predict that The Cigna Group will post 28.4 EPS for the current year.

The Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Wednesday, September 4th will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.55%. The Cigna Group’s dividend payout ratio is presently 45.98%.

Insiders Place Their Bets

In other The Cigna Group news, Director Elder Granger sold 547 shares of the stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $331.38, for a total transaction of $181,264.86. Following the completion of the transaction, the director now owns 5,471 shares in the company, valued at $1,812,979.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other The Cigna Group news, insider Brian C. Evanko sold 4,795 shares of the 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 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 through the SEC website. Also, Director Elder Granger sold 547 shares of the stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $331.38, for a total transaction of $181,264.86. Following the transaction, the director now owns 5,471 shares of the company’s stock, valued at approximately $1,812,979.98. The disclosure for this sale can be found here. Insiders sold 9,033 shares of company stock worth $3,095,820 over the last quarter. 0.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have weighed in on CI. JPMorgan Chase & Co. upped their price objective on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Stephens restated an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a report on Friday, August 2nd. Robert W. Baird began coverage on shares of The Cigna Group in a report on Thursday, May 30th. They set an “outperform” rating and a $388.00 price objective on the stock. StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Finally, Piper Sandler began coverage on shares of The Cigna Group in a report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 target price for the company. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, The Cigna Group has a consensus rating of “Buy” and an average price target of $384.86.

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.