Prospector Partners LLC Increases Holdings in The Cigna Group (NYSE:CI)

Prospector Partners LLC lifted its holdings in shares of The Cigna Group (NYSE:CI) by 0.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,858 shares of the health services provider’s stock after purchasing an additional 320 shares during the period. The Cigna Group comprises approximately 1.5% of Prospector Partners LLC’s investment portfolio, making the stock its 23rd largest holding. Prospector Partners LLC’s holdings in The Cigna Group were worth $13,506,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CI. Van ECK Associates Corp raised its position in The Cigna Group by 4.4% in the second quarter. Van ECK Associates Corp now owns 14,872 shares of the health services provider’s stock worth $4,916,000 after acquiring an additional 625 shares during the period. TFO Wealth Partners LLC raised its holdings in shares of The Cigna Group by 98,980.0% in the 4th quarter. TFO Wealth Partners LLC now owns 4,954 shares of the health services provider’s stock worth $1,497,000 after purchasing an additional 4,949 shares during the period. Hancock Whitney Corp lifted its stake in The Cigna Group by 75.6% in the first quarter. Hancock Whitney Corp now owns 3,783 shares of the health services provider’s stock valued at $1,374,000 after purchasing an additional 1,629 shares during the last quarter. Bank of Nova Scotia grew its holdings in The Cigna Group by 63.5% during the fourth quarter. Bank of Nova Scotia now owns 101,772 shares of the health services provider’s stock valued at $30,475,000 after purchasing an additional 39,530 shares during the period. Finally, ORG Partners LLC purchased a new stake in The Cigna Group in the second quarter worth $489,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at The Cigna Group

In other The Cigna Group news, insider Brian C. Evanko sold 4,795 shares of the business’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 completion of the transaction, the insider now 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 through this link. In related news, Director William J. Delaney III sold 2,691 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $342.68, for a total transaction of $922,151.88. Following the transaction, 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 legal filing with the SEC, which is accessible through this link. Also, insider Brian C. Evanko sold 4,795 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $345.01, for a total value 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 disclosure for this sale can be found here. 0.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CI shares. Baird R W upgraded The Cigna Group to a “strong-buy” rating in a research note on Thursday, May 30th. Stephens reiterated an “overweight” rating and set a $410.00 target price on shares of The Cigna Group in a research report on Friday, August 2nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a research note on Monday, September 16th. Royal Bank of Canada restated an “outperform” rating and set a $384.00 price target on shares of The Cigna Group in a research note on Monday, September 9th. Finally, Robert W. Baird assumed coverage on shares of The Cigna Group in a report on Thursday, May 30th. They issued an “outperform” rating and a $388.00 price objective for the company. One 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’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $392.79.

The Cigna Group Stock Down 0.3 %

Shares of NYSE:CI opened at $356.14 on Friday. The firm has a fifty day moving average price of $347.02 and a two-hundred day moving average price of $345.05. The company has a market cap of $101.17 billion, a price-to-earnings ratio of 29.24, a PEG ratio of 1.09 and a beta of 0.50. 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 Cigna Group has a one year low of $253.95 and a one year high of $370.83.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, beating the consensus estimate 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 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 quarter last year, the company earned $6.13 earnings per share. Analysts anticipate that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, September 4th were given a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.57%. The ex-dividend date was Wednesday, September 4th. The Cigna Group’s dividend payout ratio (DPR) 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.