Magnolia Capital Advisors LLC Takes Position in The Cigna Group (NYSE:CI)

Magnolia Capital Advisors LLC bought a new stake in The Cigna Group (NYSE:CI) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 714 shares of the health services provider’s stock, valued at approximately $236,000.

Other institutional investors also recently modified their holdings of the company. Van ECK Associates Corp boosted its position in shares of 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 valued at $4,916,000 after acquiring an additional 625 shares during the period. Hancock Whitney Corp grew its stake in The Cigna Group by 75.6% during the first quarter. Hancock Whitney Corp now owns 3,783 shares of the health services provider’s stock worth $1,374,000 after buying an additional 1,629 shares in the last quarter. ORG Partners LLC acquired a new stake in The Cigna Group during the second quarter worth about $489,000. Public Employees Retirement Association of Colorado grew its stake in The Cigna Group by 845.7% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 44,382 shares of the health services provider’s stock worth $13,290,000 after buying an additional 39,689 shares in the last quarter. Finally, OLD Point Trust & Financial Services N A acquired a new stake in shares of The Cigna Group during the 4th quarter worth approximately $115,000. Institutional investors own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

CI has been the topic of a number of recent analyst reports. Stephens reissued an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a research note on Friday, August 2nd. Barclays lifted their price objective on shares of The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a research note on Monday, September 16th. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $384.00 price objective on shares of The Cigna Group in a research note on Monday, September 9th. One equities research 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.com, the stock has a consensus rating of “Buy” and an average price target of $392.79.

The Cigna Group Price Performance

Shares of NYSE:CI opened at $346.44 on Tuesday. The firm has a market cap of $98.41 billion, a PE ratio of 28.44, a price-to-earnings-growth ratio of 1.08 and a beta of 0.50. The firm’s fifty day moving average is $348.38 and its 200-day moving average is $345.28. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.71. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $370.83.

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

The Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th were issued a dividend of $1.40 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.62%. The Cigna Group’s dividend payout ratio (DPR) is presently 45.98%.

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 on Monday, August 19th. The shares were sold at an average price of $342.68, for a total transaction of $922,151.88. Following the transaction, the director now owns 17,539 shares in the company, valued at $6,010,264.52. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.60% of the stock is 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.