The Cigna Group (NYSE:CI) Shares Bought by Gabelli Funds LLC

Gabelli Funds LLC lifted its stake in shares of The Cigna Group (NYSE:CI) by 0.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 87,360 shares of the health services provider’s stock after purchasing an additional 70 shares during the quarter. Gabelli Funds LLC’s holdings in The Cigna Group were worth $28,879,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in CI. Capital Asset Advisory Services LLC boosted its position in shares of The Cigna Group by 2.3% during the first quarter. Capital Asset Advisory Services LLC now owns 1,280 shares of the health services provider’s stock worth $464,000 after buying an additional 29 shares during the period. Checchi Capital Advisers LLC increased its holdings in shares of The Cigna Group by 0.9% during the second quarter. Checchi Capital Advisers LLC now owns 3,584 shares of the health services provider’s stock valued at $1,185,000 after purchasing an additional 31 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake in shares of The Cigna Group by 1.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,206 shares of the health services provider’s stock valued at $729,000 after purchasing an additional 31 shares in the last quarter. Capital Advisors Ltd. LLC grew its position in The Cigna Group by 10.6% in the 1st quarter. Capital Advisors Ltd. LLC now owns 335 shares of the health services provider’s stock valued at $122,000 after buying an additional 32 shares in the last quarter. Finally, Capital Investment Advisors LLC increased its stake in The Cigna Group by 2.9% during the 2nd quarter. Capital Investment Advisors LLC now owns 1,122 shares of the health services provider’s stock valued at $371,000 after buying an additional 32 shares during the period. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Price Performance

CI opened at $356.14 on Monday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73. The stock 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 Cigna Group has a 1 year low of $253.95 and a 1 year high of $370.83. The stock has a fifty day moving average price of $347.02 and a 200 day moving average price of $345.09.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, August 1st. The health services provider reported $6.72 EPS for the quarter, topping the consensus estimate of $6.42 by $0.30. The firm had revenue of $60.52 billion during the quarter, compared to analysts’ expectations of $58.30 billion. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The Cigna Group’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same period last year, the business earned $6.13 earnings per share. Analysts forecast that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, September 4th were issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.57%. The ex-dividend date was Wednesday, September 4th. The Cigna Group’s dividend payout ratio is currently 45.98%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CI shares. Baird R W upgraded The Cigna Group to a “strong-buy” rating in a research report on Thursday, May 30th. Robert W. Baird started 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 target on the stock. JPMorgan Chase & Co. increased their price objective on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Stephens restated an “overweight” rating and issued a $410.00 target price on shares of The Cigna Group in a report on Friday, August 2nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $384.00 target price on shares of The Cigna Group in a report on Monday, September 9th. One 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 company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $392.79.

Insider Buying and Selling at The Cigna Group

In other news, Director William J. Delaney III sold 2,691 shares of the business’s stock in a transaction that occurred on 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 directly owns 17,539 shares of the company’s stock, valued at approximately $6,010,264.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.60% of the company’s stock.

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.