Covestor Ltd Grows Stock Holdings in The Cigna Group (NYSE:CI)

Covestor Ltd lifted its position in The Cigna Group (NYSE:CI) by 28.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,115 shares of the health services provider’s stock after purchasing an additional 244 shares during the quarter. Covestor Ltd’s holdings in The Cigna Group were worth $313,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Linscomb & Williams Inc. grew its holdings in shares of The Cigna Group by 0.3% in the fourth quarter. Linscomb & Williams Inc. now owns 10,877 shares of the health services provider’s stock valued at $3,604,000 after purchasing an additional 36 shares in the last quarter. Wambolt & Associates LLC increased its position in shares of The Cigna Group by 1.4% during the 2nd quarter. Wambolt & Associates LLC now owns 2,536 shares of the health services provider’s stock valued at $712,000 after purchasing an additional 36 shares during the last quarter. Mission Wealth Management LP raised its holdings in The Cigna Group by 4.0% during the 2nd quarter. Mission Wealth Management LP now owns 933 shares of the health services provider’s stock valued at $262,000 after buying an additional 36 shares during the period. JB Capital LLC raised its holdings in The Cigna Group by 0.5% during the 2nd quarter. JB Capital LLC now owns 8,382 shares of the health services provider’s stock valued at $2,352,000 after buying an additional 40 shares during the period. Finally, Plancorp LLC lifted its position in The Cigna Group by 1.5% in the second quarter. Plancorp LLC now owns 2,682 shares of the health services provider’s stock worth $753,000 after buying an additional 40 shares during the last quarter. Institutional investors own 85.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of The Cigna Group from $284.00 to $300.00 in a report on Wednesday, August 9th. Sanford C. Bernstein boosted their price objective on shares of The Cigna Group from $326.00 to $330.00 in a research note on Tuesday, October 10th. Royal Bank of Canada restated a “sector perform” rating and issued a $327.00 target price on shares of The Cigna Group in a research note on Wednesday, November 15th. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 3rd. Finally, Raymond James raised their price target on The Cigna Group from $310.00 to $330.00 and gave the stock a “strong-buy” rating in a report on Monday, August 7th. Five research analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $336.40.

Insider Buying and Selling

In other The Cigna Group news, EVP Cynthia Ryan sold 3,768 shares of the firm’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $282.22, for a total value of $1,063,404.96. Following the transaction, the executive vice president now owns 5,503 shares in the company, valued at approximately $1,553,056.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.60% of the stock is currently owned by insiders.

The Cigna Group Stock Performance

Shares of CI traded up $0.54 during trading hours on Tuesday, hitting $284.84. The stock had a trading volume of 368,945 shares, compared to its average volume of 1,596,191. The Cigna Group has a fifty-two week low of $240.50 and a fifty-two week high of $340.11. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market capitalization of $83.35 billion, a price-to-earnings ratio of 16.03, a PEG ratio of 1.02 and a beta of 0.65. The firm has a 50-day moving average price of $294.97 and a 200 day moving average price of $281.73.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, November 2nd. The health services provider reported $6.77 EPS for the quarter, beating analysts’ consensus estimates of $6.68 by $0.09. The Cigna Group had a return on equity of 12.62% and a net margin of 2.79%. The business had revenue of $49.05 billion during the quarter, compared to analysts’ expectations of $48.14 billion. During the same period in the previous year, the business earned $6.04 earnings per share. The business’s revenue was up 8.3% compared to the same quarter last year. As a group, research analysts anticipate that The Cigna Group will post 24.82 EPS for the current year.

The Cigna Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 21st. Investors of record on Wednesday, December 6th will be paid a $1.23 dividend. This represents a $4.92 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend is Tuesday, December 5th. The Cigna Group’s dividend payout ratio is presently 27.75%.

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.