1,239 Shares in The Cigna Group (NYSE:CI) Bought by Sky Investment Group LLC

Sky Investment Group LLC acquired a new stake in The Cigna Group (NYSE:CI) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,239 shares of the health services provider’s stock, valued at approximately $410,000.

Several other hedge funds have also modified their holdings of CI. Silicon Valley Capital Partners grew its stake in The Cigna Group by 100.0% in the 1st quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock valued at $25,000 after acquiring an additional 35 shares during the period. Cedar Wealth Management LLC acquired a new stake in shares of The Cigna Group in the first quarter valued at about $29,000. Raleigh Capital Management Inc. increased its stake in shares of The Cigna Group by 69.5% during the fourth quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock worth $30,000 after purchasing an additional 41 shares in the last quarter. Pineridge Advisors LLC purchased a new stake in shares of The Cigna Group during the fourth quarter worth about $37,000. Finally, MeadowBrook Investment Advisors LLC acquired a new position in shares of The Cigna Group during the 4th quarter worth about $43,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Trading Up 0.6 %

Shares of The Cigna Group stock traded up $2.15 during mid-day trading on Wednesday, hitting $334.87. The stock had a trading volume of 621,075 shares, compared to its average volume of 1,571,466. The firm has a 50-day moving average of $335.08 and a two-hundred day moving average of $340.50. The firm has a market cap of $95.13 billion, a P/E ratio of 27.49, a price-to-earnings-growth ratio of 1.02 and a beta of 0.52. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.73. The Cigna Group has a 12-month low of $253.95 and a 12-month high of $365.71.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 EPS for the quarter, beating analysts’ consensus estimates of $6.42 by $0.30. The firm had revenue of $60.52 billion for the quarter, compared to analysts’ expectations of $58.30 billion. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The firm’s quarterly revenue was up 24.6% on a year-over-year basis. During the same period in the prior year, the firm posted $6.13 earnings per share. Sell-side analysts forecast that The Cigna Group will post 28.4 earnings per share for the current year.

The Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Wednesday, September 4th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date is Wednesday, September 4th. The Cigna Group’s payout ratio is 45.98%.

Insider Buying and Selling at The Cigna Group

In other news, 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 transaction, the insider now directly owns 39,923 shares in the company, valued at approximately $13,773,834.23. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Elder Granger sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $338.08, for a total transaction of $338,080.00. Following the completion of the transaction, the director now directly owns 5,471 shares in the company, valued at approximately $1,849,635.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian C. Evanko sold 4,795 shares of The Cigna Group stock in a transaction dated 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 transaction, 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. Insiders have sold 6,342 shares of company stock valued at $2,173,668 over the last 90 days. 0.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Oppenheimer boosted their price objective on The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. lifted their target price on shares of The Cigna Group from $432.00 to $435.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Piper Sandler began coverage on shares of The Cigna Group in a report on Wednesday, June 26th. They set an “overweight” rating and a $400.00 target price for the company. Finally, Baird R W upgraded shares of The Cigna Group to a “strong-buy” rating in a research report on Thursday, May 30th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, The Cigna Group currently has an average rating of “Buy” and a consensus price target of $384.64.

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.