Spire Wealth Management Has $1.28 Million Stock Position in The Cigna Group (NYSE:CI)

Spire Wealth Management grew its stake in The Cigna Group (NYSE:CI) by 3.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,884 shares of the health services provider’s stock after buying an additional 142 shares during the quarter. Spire Wealth Management’s holdings in The Cigna Group were worth $1,284,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in CI. Capital Asset Advisory Services LLC boosted 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 purchasing an additional 29 shares during the period. Checchi Capital Advisers LLC boosted its position in shares of The Cigna Group by 0.9% during the second quarter. Checchi Capital Advisers LLC now owns 3,584 shares of the health services provider’s stock worth $1,185,000 after buying an additional 31 shares during the period. Capital Advisors Ltd. LLC grew its holdings in shares of 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 worth $122,000 after buying an additional 32 shares in the last quarter. Capital Investment Advisors LLC raised its position in The Cigna Group by 2.9% in the 2nd quarter. Capital Investment Advisors LLC now owns 1,122 shares of the health services provider’s stock valued at $371,000 after buying an additional 32 shares during the last quarter. Finally, Saxony Capital Management LLC lifted its stake in The Cigna Group by 5.3% in the 2nd quarter. Saxony Capital Management LLC now owns 638 shares of the health services provider’s stock valued at $211,000 after acquiring an additional 32 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Piper Sandler assumed coverage on shares of The Cigna Group in a research note on Wednesday, June 26th. They set an “overweight” rating and a $400.00 price target for the company. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Robert W. Baird initiated coverage on shares of The Cigna Group in a research report on Thursday, May 30th. They set an “outperform” rating and a $388.00 price target on the stock. Barclays raised their price objective on The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a report on Monday, August 19th. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $384.86.

The Cigna Group Stock Performance

Shares of NYSE CI traded up $0.75 during midday trading on Friday, hitting $361.81. 1,148,195 shares of the company’s stock were exchanged, compared to its average volume of 1,344,975. The Cigna Group has a 12 month low of $253.95 and a 12 month high of $365.71. The company’s 50 day moving average price is $338.24 and its 200 day moving average price is $342.90. 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 firm has a market capitalization of $101.14 billion, a PE ratio of 29.71, a price-to-earnings-growth ratio of 1.10 and a beta of 0.52.

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, topping analysts’ consensus estimates of $6.42 by $0.30. The firm had revenue of $60.52 billion during the quarter, compared to analysts’ expectations of $58.30 billion. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The company’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period in the previous year, the business posted $6.13 earnings per share. As a group, analysts predict that The Cigna Group will post 28.5 earnings per share 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. Shareholders of record on Wednesday, September 4th will be issued a $1.40 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $5.60 annualized dividend and a yield of 1.55%. The Cigna Group’s dividend payout ratio is currently 45.98%.

Insider Transactions at The Cigna Group

In other news, Director Elder Granger sold 547 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $331.38, for a total transaction of $181,264.86. Following the transaction, the director now owns 5,471 shares in the company, valued at $1,812,979.98. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other The Cigna Group 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 owns 17,539 shares in the company, valued at approximately $6,010,264.52. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Elder Granger sold 547 shares of The Cigna Group stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $331.38, for a total transaction of $181,264.86. Following the completion of the sale, the director now owns 5,471 shares of the company’s stock, valued at $1,812,979.98. The disclosure for this sale can be found here. Insiders sold a total of 9,033 shares of company stock worth $3,095,820 over the last quarter. Company insiders own 0.60% of the company’s stock.

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.