Integral Health Asset Management LLC Raises Position in The Cigna Group (NYSE:CI)

Integral Health Asset Management LLC raised its stake in The Cigna Group (NYSE:CI) by 25.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 50,000 shares of the health services provider’s stock after purchasing an additional 10,000 shares during the quarter. The Cigna Group accounts for about 1.6% of Integral Health Asset Management LLC’s portfolio, making the stock its 19th biggest position. Integral Health Asset Management LLC’s holdings in The Cigna Group were worth $16,528,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Transactions at The Cigna Group

In other news, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $342.68, for a total value of $922,151.88. Following the transaction, the director now owns 17,539 shares in the company, valued at $6,010,264.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CI. Piper Sandler began coverage on The Cigna Group in a research report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 target price for the company. Baird R W raised The Cigna Group to a “strong-buy” rating in a research report on Thursday, May 30th. JPMorgan Chase & Co. raised their target price on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Stephens reissued an “overweight” rating and issued a $410.00 target price on shares of The Cigna Group in a research report on Friday, August 2nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $384.00 price target on shares of The Cigna Group in a report on Monday, September 9th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $392.79.

The Cigna Group Trading Down 0.3 %

NYSE CI opened at $356.14 on Monday. The stock’s 50-day simple moving average is $347.02 and its two-hundred day simple moving average is $345.09. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $370.83. 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 company has a market capitalization 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 Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, beating analysts’ consensus estimates of $6.42 by $0.30. The business had revenue of $60.52 billion for 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 company’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same quarter last year, the business posted $6.13 earnings per share. Research analysts forecast that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Announces Dividend

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