Cooper Financial Group Increases Holdings in The Cigna Group (NYSE:CI)

Cooper Financial Group lifted its stake in The Cigna Group (NYSE:CI) by 54.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,738 shares of the health services provider’s stock after purchasing an additional 962 shares during the period. Cooper Financial Group’s holdings in The Cigna Group were worth $905,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Sequoia Financial Advisors LLC increased its holdings in The Cigna Group by 81.2% during the fourth quarter. Sequoia Financial Advisors LLC now owns 5,113 shares of the health services provider’s stock valued at $1,531,000 after buying an additional 2,291 shares during the period. Clarius Group LLC raised its holdings in shares of The Cigna Group by 2.4% during the fourth quarter. Clarius Group LLC now owns 3,012 shares of the health services provider’s stock worth $902,000 after purchasing an additional 72 shares during the last quarter. Graypoint LLC increased its holdings in The Cigna Group by 8.4% in the fourth quarter. Graypoint LLC now owns 2,498 shares of the health services provider’s stock valued at $748,000 after buying an additional 193 shares in the last quarter. Simplicity Solutions LLC increased its stake in shares of The Cigna Group by 1.0% during the fourth quarter. Simplicity Solutions LLC now owns 8,108 shares of the health services provider’s stock worth $2,428,000 after purchasing an additional 78 shares in the last quarter. Finally, Crestwood Advisors Group LLC boosted its position in The Cigna Group by 9.6% during the fourth quarter. Crestwood Advisors Group LLC now owns 1,226 shares of the health services provider’s stock worth $367,000 after acquiring an additional 107 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Up 1.0 %

The Cigna Group stock traded up $3.32 during midday trading on Tuesday, reaching $331.42. The stock had a trading volume of 297,921 shares, compared to its average volume of 1,572,697. 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 firm’s fifty day simple moving average is $335.16 and its 200-day simple moving average is $340.29. The stock has a market capitalization of $94.15 billion, a P/E ratio of 26.95, a price-to-earnings-growth ratio of 1.02 and a beta of 0.52. The Cigna Group has a 1-year low of $253.95 and a 1-year high of $365.71.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data 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 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 previous year, the firm earned $6.13 EPS. The company’s quarterly revenue was up 24.6% compared to the same quarter last year. As a group, analysts expect that The Cigna Group will post 28.4 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th will be paid a $1.40 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.69%. The Cigna Group’s payout ratio is 45.98%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Baird R W upgraded shares of The Cigna Group to a “strong-buy” rating in a research note on Thursday, May 30th. JPMorgan Chase & Co. upped their price objective on shares of The Cigna Group from $432.00 to $435.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Stephens reiterated an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a report on Friday, August 2nd. Robert W. Baird assumed coverage on shares of The Cigna Group in a research note on Thursday, May 30th. They issued an “outperform” rating and a $388.00 price objective on the stock. Finally, Barclays raised their price target 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. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, The Cigna Group has an average rating of “Buy” and a consensus price target of $384.64.

Insider Buying and Selling

In other The Cigna Group news, insider Brian C. Evanko sold 4,795 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 39,923 shares in the company, valued at $13,773,834.23. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 transaction of $181,264.86. Following the completion of the transaction, the director now directly owns 5,471 shares in the company, valued at $1,812,979.98. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Brian C. Evanko sold 4,795 shares of The Cigna Group stock in a transaction dated 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 approximately $13,773,834.23. The disclosure for this sale can be found here. Insiders sold 6,342 shares of company stock valued at $2,173,668 over the last 90 days. Company insiders own 0.60% of the company’s stock.

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.