Brown Financial Advisors Takes $1.70 Million Position in The Cigna Group (NYSE:CI)

Brown Financial Advisors acquired a new stake in The Cigna Group (NYSE:CI) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,143 shares of the health services provider’s stock, valued at approximately $1,700,000.

Other large investors also recently modified their holdings of the company. Silicon Valley Capital Partners increased its position in 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 worth $25,000 after acquiring an additional 35 shares during the period. Cedar Wealth Management LLC acquired a new stake in The Cigna Group during the first quarter worth about $29,000. Raleigh Capital Management Inc. grew its stake in 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 worth $30,000 after buying an additional 41 shares in the last quarter. TruNorth Capital Management LLC acquired a new stake in The Cigna Group during the second quarter worth about $33,000. Finally, Pineridge Advisors LLC acquired a new stake in The Cigna Group during the fourth quarter worth about $37,000. 86.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CI has been the topic of a number of analyst reports. StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a research note on Tuesday. Stephens restated an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a research note on Friday, August 2nd. JPMorgan Chase & Co. raised their price target on shares of The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Finally, Barclays raised their price target 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. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $392.79.

The Cigna Group Stock Up 0.5 %

NYSE:CI opened at $348.10 on Wednesday. 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 firm’s 50 day simple moving average is $348.62 and its 200 day simple moving average is $345.25. The company has a market cap of $98.89 billion, a PE ratio of 28.58, a P/E/G ratio of 1.08 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 (EPS) for the quarter, topping the consensus estimate of $6.42 by $0.30. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The firm had revenue of $60.52 billion during the quarter, compared to analyst estimates of $58.30 billion. During the same quarter last year, the business earned $6.13 EPS. The company’s revenue was up 24.6% compared to the same quarter last year. On average, research analysts anticipate that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Shareholders 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 annualized dividend and a yield of 1.61%. The Cigna Group’s payout ratio is 45.98%.

Insiders Place Their Bets

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 17,539 shares in the company, valued at approximately $6,010,264.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.60% of the company’s stock.

About The Cigna Group

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.