The Cigna Group (NYSE:CI) Shares Acquired by Caprock Group LLC

Caprock Group LLC raised its stake in The Cigna Group (NYSE:CI) by 66.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,406 shares of the health services provider’s stock after purchasing an additional 4,547 shares during the period. Caprock Group LLC’s holdings in The Cigna Group were worth $3,771,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Silicon Valley Capital Partners raised its stake in The Cigna Group by 100.0% during the 1st 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 in the last quarter. Cedar Wealth Management LLC acquired a new stake in shares of The Cigna Group during the first quarter worth about $29,000. Raleigh Capital Management Inc. lifted its holdings in shares of 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 purchasing an additional 41 shares during the last quarter. TruNorth Capital Management LLC acquired a new stake in shares of The Cigna Group in the 2nd quarter valued at about $33,000. Finally, Pineridge Advisors LLC acquired a new position in The Cigna Group during the fourth quarter worth approximately $37,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Price Performance

Shares of NYSE CI opened at $353.49 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.71. The Cigna Group has a one year low of $253.95 and a one year high of $370.64. The firm has a market capitalization of $100.42 billion, a P/E ratio of 29.02, a PEG ratio of 1.10 and a beta of 0.50. The company’s fifty day moving average is $340.62 and its two-hundred day moving average is $343.61.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, topping the consensus estimate of $6.42 by $0.30. The company had revenue of $60.52 billion for 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% compared to the same quarter last year. During the same period in the prior year, the business posted $6.13 earnings per share. Analysts forecast that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

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

Wall Street Analyst Weigh In

CI has been the topic of a number of research reports. JPMorgan Chase & Co. raised their target price on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Cantor Fitzgerald restated an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a research note on Monday, August 19th. Barclays increased their target price on shares of The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Stephens restated an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a research report on Friday, August 2nd. Finally, Piper Sandler started coverage on The Cigna Group in a research note on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 target price on the stock. 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $384.86.

Insider Transactions at The Cigna Group

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of The Cigna Group 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 transaction, the director now owns 17,539 shares in the company, valued at $6,010,264.52. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $342.68, for a total transaction of $922,151.88. Following the completion of the transaction, the director now owns 17,539 shares of the company’s stock, valued at $6,010,264.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 $13,773,834.23. The disclosure for this sale can be found here. Insiders sold 9,033 shares of company stock valued at $3,095,820 in the last 90 days. 0.60% of the stock is currently owned by 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.