The Cigna Group (NYSE:CI) Shares Purchased by Foundry Partners LLC

Foundry Partners LLC raised its position in The Cigna Group (NYSE:CI) by 0.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 47,808 shares of the health services provider’s stock after purchasing an additional 53 shares during the period. The Cigna Group comprises approximately 0.8% of Foundry Partners LLC’s portfolio, making the stock its 29th biggest holding. Foundry Partners LLC’s holdings in The Cigna Group were worth $15,804,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in CI. Silicon Valley Capital Partners raised its position in shares of 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 purchasing an additional 35 shares during the last quarter. Cedar Wealth Management LLC purchased a new position in The Cigna Group during the first quarter worth $29,000. Raleigh Capital Management Inc. raised its holdings in shares of The Cigna Group by 69.5% in the fourth quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock worth $30,000 after acquiring an additional 41 shares during the last quarter. TruNorth Capital Management LLC purchased a new stake in shares of The Cigna Group in the second quarter valued at $33,000. Finally, Pineridge Advisors LLC acquired a new stake in shares of The Cigna Group during the fourth quarter valued at $37,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Trading Up 0.8 %

Shares of CI stock traded up $2.88 on Friday, reaching $358.00. 461,537 shares of the stock were exchanged, compared to its average volume of 1,530,254. The stock has a market cap of $101.70 billion, a P/E ratio of 29.17, a price-to-earnings-growth ratio of 1.10 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 firm has a 50 day moving average of $340.15 and a two-hundred day moving average of $343.51. The Cigna Group has a 1-year low of $253.95 and a 1-year high of $370.64.

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 business had revenue of $60.52 billion during the quarter, compared to the consensus estimate of $58.30 billion. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The business’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same period in the prior year, the firm posted $6.13 EPS. On average, research analysts anticipate that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th will be issued a dividend of $1.40 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.56%. The Cigna Group’s payout ratio is 45.98%.

Insider Transactions at The Cigna Group

In related news, 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 transaction of $1,654,322.95. Following the completion of the sale, the insider now directly owns 39,923 shares of the company’s stock, valued at approximately $13,773,834.23. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director William J. Delaney III sold 2,691 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 17,539 shares of the company’s stock, valued at approximately $6,010,264.52. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Brian C. Evanko sold 4,795 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the sale, 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 sold a total of 9,033 shares of company stock worth $3,095,820 in the last ninety days. Insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CI. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a research note on Monday, August 19th. Robert W. Baird began coverage on shares of The Cigna Group in a research report on Thursday, May 30th. They issued an “outperform” rating and a $388.00 price objective for the company. 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. Baird R W raised shares of The Cigna Group to a “strong-buy” rating in a research note on Thursday, May 30th. Finally, 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. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $384.86.

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.