The Cigna Group (NYSE:CI) Shares Purchased by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC raised its position in The Cigna Group (NYSE:CI) by 6.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,175 shares of the health services provider’s stock after purchasing an additional 68 shares during the quarter. HBK Sorce Advisory LLC’s holdings in The Cigna Group were worth $389,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Gryphon Financial Partners LLC purchased a new position in The Cigna Group during the 4th quarter valued at about $230,000. Avantax Advisory Services Inc. boosted its stake in shares of The Cigna Group by 11.4% in the fourth quarter. Avantax Advisory Services Inc. now owns 3,328 shares of the health services provider’s stock valued at $997,000 after purchasing an additional 340 shares during the period. Foundations Investment Advisors LLC grew its holdings in shares of The Cigna Group by 6.9% in the fourth quarter. Foundations Investment Advisors LLC now owns 841 shares of the health services provider’s stock valued at $258,000 after purchasing an additional 54 shares in the last quarter. Independent Advisor Alliance increased its stake in The Cigna Group by 12.9% during the 4th quarter. Independent Advisor Alliance now owns 1,481 shares of the health services provider’s stock worth $444,000 after buying an additional 169 shares during the period. Finally, Kentucky Retirement Systems lifted its holdings in The Cigna Group by 0.6% during the 4th quarter. Kentucky Retirement Systems now owns 23,413 shares of the health services provider’s stock worth $7,011,000 after buying an additional 129 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. 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. Baird R W upgraded The Cigna Group to a “strong-buy” rating in a report on Thursday, May 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $384.00 price objective on shares of The Cigna Group in a research note on Monday, September 9th. Piper Sandler initiated 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 on the stock. Finally, Stephens reiterated an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a report on Friday, August 2nd. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $387.00.

The Cigna Group Trading Up 0.7 %

NYSE CI opened at $364.72 on Friday. The firm’s fifty day moving average price is $344.18 and its 200 day moving average price is $344.22. The Cigna Group has a 12 month low of $253.95 and a 12 month 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 company has a market capitalization of $101.96 billion, a price-to-earnings ratio of 29.94, a price-to-earnings-growth ratio of 1.09 and a beta of 0.50.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data 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 Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The company had revenue of $60.52 billion for the quarter, compared to analyst estimates of $58.30 billion. During the same quarter last year, the company posted $6.13 earnings per share. The business’s quarterly revenue was up 24.6% compared to the same quarter last year. On average, sell-side analysts expect that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently disclosed 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. This represents a $5.60 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend is Wednesday, September 4th. The Cigna Group’s payout ratio is currently 45.98%.

Insider Activity

In related news, insider Brian C. Evanko sold 4,795 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $345.01, for a total value of $1,654,322.95. Following the completion of the sale, the insider now owns 39,923 shares in the company, valued at approximately $13,773,834.23. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Elder Granger sold 547 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $1,812,979.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian C. Evanko sold 4,795 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were 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. Over the last ninety days, insiders sold 8,033 shares of company stock valued at $2,757,740. 0.60% of the stock is currently owned by company insiders.

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.