Dark Forest Capital Management LP Takes $754,000 Position in The Cigna Group (NYSE:CI)

Dark Forest Capital Management LP acquired a new position in The Cigna Group (NYSE:CI) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,281 shares of the health services provider’s stock, valued at approximately $754,000.

Several other hedge funds have also recently bought and sold shares of the business. Silicon Valley Capital Partners raised 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 purchasing an additional 35 shares during the period. Cedar Wealth Management LLC bought a new position in The Cigna Group in the 1st quarter worth $29,000. Raleigh Capital Management Inc. lifted 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 worth $30,000 after acquiring an additional 41 shares during the last quarter. TruNorth Capital Management LLC bought a new stake in The Cigna Group during the second quarter valued at about $33,000. Finally, Pineridge Advisors LLC acquired a new stake in shares of The Cigna Group in the fourth quarter valued at about $37,000. 86.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $342.68, for a total transaction 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 document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.60% of the company’s stock.

The Cigna Group Trading Down 1.1 %

Shares of CI stock opened at $344.91 on Friday. The company’s fifty day simple moving average is $347.84 and its two-hundred day simple moving average is $345.28. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $370.83. The stock has a market capitalization of $97.98 billion, a price-to-earnings ratio of 28.32, a PEG ratio of 1.08 and a beta of 0.50. 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 (NYSE:CI) last issued its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.42 by $0.30. The firm had revenue of $60.52 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.13 earnings per share. As a group, analysts anticipate that The Cigna Group will post 28.48 earnings per share for the current 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. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date was Wednesday, September 4th. The Cigna Group’s payout ratio is presently 45.98%.

Analyst Ratings Changes

CI has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their price target on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Barclays upped their price target on shares of The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Robert W. Baird assumed coverage on The Cigna Group in a research report on Thursday, May 30th. They set an “outperform” rating and a $388.00 target price for the company. Piper Sandler assumed coverage on shares of The Cigna Group in a report on Wednesday, June 26th. They set an “overweight” rating and a $400.00 target price for the company. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a research note on Monday, September 16th. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $392.79.

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.