Choreo LLC Buys 9,183 Shares of The Cigna Group (NYSE:CI)

Choreo LLC boosted its position in The Cigna Group (NYSE:CI) by 565.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,806 shares of the health services provider’s stock after purchasing an additional 9,183 shares during the quarter. Choreo LLC’s holdings in The Cigna Group were worth $3,529,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of CI. Silicon Valley Capital Partners raised its position in The Cigna Group by 100.0% in the first quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock valued at $25,000 after purchasing an additional 35 shares during the last quarter. Cedar Wealth Management LLC bought a new position in shares of The Cigna Group during the 1st quarter worth approximately $29,000. Raleigh Capital Management Inc. raised its holdings 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 valued at $30,000 after purchasing an additional 41 shares during the period. TruNorth Capital Management LLC acquired a new stake in The Cigna Group in the second quarter valued at approximately $33,000. Finally, Pineridge Advisors LLC bought a new position in shares of The Cigna Group in the fourth quarter valued at $37,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at The Cigna Group

In related news, insider Brian C. Evanko sold 4,795 shares of The Cigna Group stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 39,923 shares in the company, valued at $13,773,834.23. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Brian C. Evanko sold 4,795 shares of the stock in a transaction dated 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 sale, the insider now directly owns 39,923 shares of the company’s stock, valued at approximately $13,773,834.23. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $342.68, for a total value of $922,151.88. Following the completion of the transaction, the director now owns 17,539 shares of the company’s stock, valued at approximately $6,010,264.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,033 shares of company stock worth $3,095,820. Insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. 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. Barclays boosted their price objective on The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. upped their target price on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a research report on Monday, August 19th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $384.00 price target on shares of The Cigna Group in a report on Monday. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $387.00.

The Cigna Group Price Performance

NYSE CI opened at $357.61 on Tuesday. 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 stock’s fifty day moving average price is $341.24 and its 200 day moving average price is $343.72. The company has a market cap of $99.97 billion, a price-to-earnings ratio of 29.36, a PEG ratio of 1.08 and a beta of 0.50. 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 posted its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.42 by $0.30. The company had revenue of $60.52 billion during the quarter, compared to analyst estimates of $58.30 billion. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The Cigna Group’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period last year, the firm posted $6.13 EPS. As a group, equities research analysts forecast that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Announces Dividend

The firm 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. This represents a $5.60 annualized dividend and a yield of 1.57%. The ex-dividend date is Wednesday, September 4th. The Cigna Group’s payout ratio is 45.98%.

The Cigna Group Company 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.