Prospector Partners LLC Grows Stock Position in The Cigna Group (NYSE:CI)

Prospector Partners LLC boosted its stake in shares of The Cigna Group (NYSE:CI) by 0.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,858 shares of the health services provider’s stock after acquiring an additional 320 shares during the quarter. The Cigna Group accounts for about 1.5% of Prospector Partners LLC’s investment portfolio, making the stock its 23rd largest holding. Prospector Partners LLC’s holdings in The Cigna Group were worth $13,506,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analysts Forecast Growth

CI has been the subject of a number of recent analyst reports. Baird R W upgraded The Cigna Group to a “strong-buy” rating in a report on Thursday, May 30th. Robert W. Baird assumed 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. Jefferies Financial Group lifted their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. raised 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. One research 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 company’s stock. According to data from MarketBeat.com, The Cigna Group has an average rating of “Buy” and an average price target of $392.79.

The Cigna Group Stock Down 0.3 %

CI stock opened at $356.14 on Friday. The business has a 50 day moving average of $347.02 and a 200 day moving average of $345.05. The firm has a market cap of $101.17 billion, a PE ratio of 29.24, a price-to-earnings-growth ratio of 1.09 and a beta of 0.50. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $370.83. 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 Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, beating the consensus estimate of $6.42 by $0.30. The firm had revenue of $60.52 billion during the quarter, compared to the consensus estimate of $58.30 billion. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The company’s revenue was up 24.6% on a year-over-year basis. During the same period last year, the company earned $6.13 earnings per share. On average, research analysts forecast that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th were paid a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.57%. The Cigna Group’s dividend payout ratio is presently 45.98%.

Insider Activity

In related news, Director William J. Delaney III sold 2,691 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $342.68, for a total value of $922,151.88. Following the completion of the transaction, the director now directly owns 17,539 shares in the company, valued at approximately $6,010,264.52. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $342.68, for a total value of $922,151.88. Following the completion of the sale, the director now directly owns 17,539 shares in the company, valued at approximately $6,010,264.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction, the insider now owns 39,923 shares in the company, valued at approximately $13,773,834.23. The disclosure for this sale can be found here. 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.