Nepsis Inc. Grows Stake in The Cigna Group (NYSE:CI)

Nepsis Inc. increased its holdings in The Cigna Group (NYSE:CI) by 7.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,435 shares of the health services provider’s stock after purchasing an additional 3,394 shares during the period. The Cigna Group accounts for 4.1% of Nepsis Inc.’s holdings, making the stock its 14th biggest holding. Nepsis Inc.’s holdings in The Cigna Group were worth $17,126,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Capital Asset Advisory Services LLC increased its stake in The Cigna Group by 2.3% in the 1st quarter. Capital Asset Advisory Services LLC now owns 1,280 shares of the health services provider’s stock worth $464,000 after acquiring an additional 29 shares during the last quarter. Checchi Capital Advisers LLC increased its position in The Cigna Group by 0.9% in the second quarter. Checchi Capital Advisers LLC now owns 3,584 shares of the health services provider’s stock worth $1,185,000 after purchasing an additional 31 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in The Cigna Group by 1.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,206 shares of the health services provider’s stock valued at $729,000 after purchasing an additional 31 shares in the last quarter. IFG Advisors LLC raised its stake in The Cigna Group by 4.6% during the third quarter. IFG Advisors LLC now owns 699 shares of the health services provider’s stock valued at $242,000 after purchasing an additional 31 shares in the last quarter. Finally, Capital Advisors Ltd. LLC lifted its position in The Cigna Group by 10.6% during the first quarter. Capital Advisors Ltd. LLC now owns 335 shares of the health services provider’s stock valued at $122,000 after purchasing an additional 32 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director William J. Delaney III sold 2,691 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $342.68, for a total transaction of $922,151.88. Following the transaction, the director now directly owns 17,539 shares in the company, valued at approximately $6,010,264.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

CI has been the subject of several recent research reports. Stephens reiterated an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a research report on Friday, August 2nd. Barclays increased their price target on The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. lifted their price objective on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Piper Sandler started 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 on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $384.00 target price on shares of The Cigna Group in a report on Monday, September 9th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $392.79.

The Cigna Group Trading Down 4.8 %

Shares of NYSE:CI traded down $17.12 during trading on Friday, reaching $336.00. 2,712,344 shares of the company were exchanged, compared to its average volume of 1,480,892. The business’s fifty day simple moving average is $350.66 and its 200-day simple moving average is $344.29. 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 has a 12-month low of $253.95 and a 12-month high of $370.83. The firm has a market capitalization of $95.45 billion, a PE ratio of 27.59, a P/E/G ratio of 1.05 and a beta of 0.50.

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, 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 business had revenue of $60.52 billion during the quarter, compared to analyst estimates of $58.30 billion. During the same period in the previous year, the company posted $6.13 EPS. The Cigna Group’s revenue was up 24.6% on a year-over-year basis. On average, research analysts anticipate that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, September 4th were given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend was Wednesday, September 4th. The Cigna Group’s dividend payout ratio (DPR) is 45.98%.

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.