The Cigna Group (NYSE:CI) Shares Sold by Seven Springs Wealth Group LLC

Seven Springs Wealth Group LLC cut its holdings in The Cigna Group (NYSE:CI) by 6.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 126,254 shares of the health services provider’s stock after selling 8,339 shares during the period. The Cigna Group accounts for about 16.3% of Seven Springs Wealth Group LLC’s portfolio, making the stock its 2nd largest holding. Seven Springs Wealth Group LLC’s holdings in The Cigna Group were worth $41,736,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. 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 valued at $25,000 after purchasing an additional 35 shares during the last quarter. Cedar Wealth Management LLC purchased a new position in shares of The Cigna Group during the first quarter worth $29,000. Raleigh Capital Management Inc. boosted its position in shares of 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 period. TruNorth Capital Management LLC acquired a new stake in shares of The Cigna Group in the second quarter valued at $33,000. Finally, Pineridge Advisors LLC purchased a new stake in shares of The Cigna Group in the 4th quarter valued at $37,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CI has been the subject of a number of research analyst reports. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Robert W. Baird initiated coverage on shares of The Cigna Group in a report on Thursday, May 30th. They issued an “outperform” rating and a $388.00 price objective for the company. Baird R W upgraded shares of The Cigna Group to a “strong-buy” rating in a report on Thursday, May 30th. Stephens reissued an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a research report on Friday, August 2nd. Finally, Barclays upped their price objective on The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. One equities 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.com, The Cigna Group has a consensus rating of “Buy” and an average target price of $384.86.

Insider Transactions at The Cigna Group

In related news, Director Elder Granger sold 1,000 shares of the business’s 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 in the company, valued at approximately $1,849,635.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction that occurred on Monday, August 19th. The stock was 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 approximately $6,010,264.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Elder Granger sold 1,000 shares of The Cigna Group stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $338.08, for a total value of $338,080.00. Following the completion of the sale, the director now owns 5,471 shares in the company, valued at $1,849,635.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,033 shares of company stock worth $3,095,820. Company insiders own 0.60% of the company’s stock.

The Cigna Group Price Performance

Shares of NYSE:CI opened at $361.81 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.71 and a quick ratio of 0.71. The Cigna Group has a 12 month low of $253.95 and a 12 month high of $365.71. The firm has a market capitalization of $102.78 billion, a P/E ratio of 29.71, a P/E/G ratio of 1.02 and a beta of 0.52. The company’s fifty day moving average price is $338.24 and its 200 day moving average price is $342.86.

The Cigna Group (NYSE:CI) last announced its 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 business had revenue of $60.52 billion for the quarter, compared to analyst estimates of $58.30 billion. During the same period last year, the firm posted $6.13 earnings per share. The company’s revenue for the quarter was up 24.6% compared to the same quarter last year. As a group, sell-side analysts predict that The Cigna Group will post 28.4 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

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

The Cigna Group 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.