The Cigna Group (NYSE:CI) Stock Position Lifted by AE Wealth Management LLC

AE Wealth Management LLC lifted its stake in shares of The Cigna Group (NYSE:CI) by 7.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,812 shares of the health services provider’s stock after purchasing an additional 252 shares during the quarter. AE Wealth Management LLC’s holdings in The Cigna Group were worth $1,260,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Silicon Valley Capital Partners boosted its stake in The Cigna Group by 100.0% during the 1st 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 in the last quarter. Cedar Wealth Management LLC acquired a new position in The Cigna Group during the first quarter worth about $29,000. Raleigh Capital Management Inc. raised its position in The Cigna Group by 69.5% in the fourth quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock worth $30,000 after acquiring an additional 41 shares in the last quarter. TruNorth Capital Management LLC acquired a new stake in The Cigna Group in the 2nd quarter valued at about $33,000. Finally, Pineridge Advisors LLC bought a new position in shares of The Cigna Group during the 4th quarter valued at about $37,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CI shares. Robert W. Baird began coverage on shares of The Cigna Group in a research note on Thursday, May 30th. They set an “outperform” rating and a $388.00 target price for the company. Royal Bank of Canada reissued an “outperform” rating and set a $384.00 price objective on shares of The Cigna Group in a research note on Monday, September 9th. Baird R W raised The Cigna Group to a “strong-buy” rating in a research report on Thursday, May 30th. Barclays increased their price target on The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, Jefferies Financial Group boosted their price objective on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $392.79.

The Cigna Group Price Performance

Shares of NYSE:CI opened at $353.35 on Wednesday. The firm has a market cap of $100.38 billion, a price-to-earnings ratio of 29.01, a P/E/G 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 company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73. The business has a fifty day simple moving average of $347.76 and a 200 day simple moving average of $345.26.

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 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 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 business’s quarterly revenue was up 24.6% on a year-over-year basis. During the same period last year, the business earned $6.13 EPS. As a group, sell-side analysts predict that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, September 4th were given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend was Wednesday, September 4th. The Cigna Group’s dividend payout ratio is 45.98%.

Insider Transactions at The Cigna Group

In related news, Director William J. Delaney III sold 2,691 shares of the company’s stock in a transaction on 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 sale, the director now directly owns 17,539 shares in the company, valued at $6,010,264.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.60% of the stock is currently owned by company insiders.

The Cigna Group 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.