Quarry LP Acquires 614 Shares of The Cigna Group (NYSE:CI)

Quarry LP raised its holdings in The Cigna Group (NYSE:CI) by 682.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 704 shares of the health services provider’s stock after acquiring an additional 614 shares during the period. Quarry LP’s holdings in The Cigna Group were worth $233,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CI. Silicon Valley Capital Partners increased its holdings 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 buying an additional 35 shares in the last quarter. Cedar Wealth Management LLC acquired a new stake in The Cigna Group during the 1st quarter worth approximately $29,000. Raleigh Capital Management Inc. grew its holdings 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 acquired a new stake in The Cigna Group in the second quarter valued at $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. Institutional investors own 86.99% of the company’s stock.

Analysts Set New Price Targets

CI has been the topic of a number of research analyst reports. Jefferies Financial Group upped their price target on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Piper Sandler began coverage on shares of The Cigna Group in a research report on Wednesday, June 26th. They set an “overweight” rating and a $400.00 price objective for the company. Barclays boosted their target price on shares of The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Cantor Fitzgerald restated an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a report on Monday, September 16th. Finally, 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. One equities 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, The Cigna Group currently has an average rating of “Buy” and a consensus price target of $392.79.

Insider Activity at The Cigna Group

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the business’s stock in a transaction 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 directly owns 17,539 shares in the company, valued at $6,010,264.52. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.60% of the stock is owned by company insiders.

The Cigna Group Stock Up 0.8 %

CI stock opened at $347.70 on Monday. The Cigna Group has a 1-year low of $253.95 and a 1-year high of $370.83. The stock has a market cap of $98.77 billion, a P/E ratio of 28.55, a P/E/G ratio of 1.08 and a beta of 0.50. The stock’s fifty day simple moving average is $348.16 and its two-hundred day simple moving average is $345.30. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73.

The Cigna Group (NYSE:CI) last posted 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 company had revenue of $60.52 billion during the quarter, compared to analyst estimates of $58.30 billion. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The firm’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $6.13 earnings per share. Analysts expect that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, September 4th were issued a $1.40 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.61%. The Cigna Group’s dividend payout ratio (DPR) is presently 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.