Addison Advisors LLC Decreases Holdings in The Cigna Group (NYSE:CI)

Addison Advisors LLC cut its holdings in shares of The Cigna Group (NYSE:CI) by 13.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 724 shares of the health services provider’s stock after selling 112 shares during the period. Addison Advisors LLC’s holdings in The Cigna Group were worth $239,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Silicon Valley Capital Partners grew its stake in shares of 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 during the last quarter. Cedar Wealth Management LLC purchased a new stake in shares of The Cigna Group during the first quarter worth approximately $29,000. Raleigh Capital Management Inc. raised its holdings in 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 valued at $30,000 after acquiring an additional 41 shares during the last quarter. TruNorth Capital Management LLC purchased a new position in The Cigna Group during the second quarter worth approximately $33,000. Finally, Pineridge Advisors LLC purchased a new position 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.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Barclays increased their price objective 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. Stephens reiterated an “overweight” rating and issued a $410.00 target price on shares of The Cigna Group in a report on Friday, August 2nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a research note on Monday, August 19th. StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Finally, 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 target for the company. One 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, The Cigna Group currently has a consensus rating of “Buy” and an average target price of $384.86.

Insiders Place Their Bets

In other news, Director Elder Granger sold 547 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $331.38, for a total value of $181,264.86. Following the completion of the sale, the director now directly owns 5,471 shares of the company’s stock, valued at $1,812,979.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Elder Granger sold 547 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $331.38, for a total value of $181,264.86. Following the transaction, the director now owns 5,471 shares of the company’s stock, valued at $1,812,979.98. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Brian C. Evanko sold 4,795 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $345.01, for a total value of $1,654,322.95. Following the sale, the insider now directly owns 39,923 shares of the company’s stock, valued at $13,773,834.23. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,033 shares of company stock valued at $3,095,820. Insiders own 0.60% of the company’s stock.

The Cigna Group Stock Performance

NYSE CI opened at $353.50 on Friday. The company has a fifty day moving average of $340.62 and a two-hundred day moving average of $343.60. The company has a market capitalization of $100.42 billion, a PE ratio of 29.02, a P/E/G ratio of 1.10 and a beta of 0.52. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $370.64. 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 announced its earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.42 by $0.30. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The firm had revenue of $60.52 billion during the quarter, compared to analysts’ expectations of $58.30 billion. During the same period in the prior year, the firm earned $6.13 EPS. The business’s revenue was up 24.6% on a year-over-year basis. As a group, analysts expect that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Dividend Announcement

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

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.