Alaethes Wealth LLC Has $1.73 Million Stock Position in The Cigna Group (NYSE:CI)

Alaethes Wealth LLC lifted its position in shares of The Cigna Group (NYSE:CI) by 1.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,227 shares of the health services provider’s stock after purchasing an additional 99 shares during the period. Alaethes Wealth LLC’s holdings in The Cigna Group were worth $1,728,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in CI. Van ECK Associates Corp grew its position in shares of The Cigna Group by 4.4% during the 2nd quarter. Van ECK Associates Corp now owns 14,872 shares of the health services provider’s stock worth $4,916,000 after purchasing an additional 625 shares in the last quarter. TFO Wealth Partners LLC grew its position in The Cigna Group by 98,980.0% during the fourth quarter. TFO Wealth Partners LLC now owns 4,954 shares of the health services provider’s stock worth $1,497,000 after buying an additional 4,949 shares in the last quarter. Hancock Whitney Corp increased its stake in The Cigna Group by 75.6% during the 1st quarter. Hancock Whitney Corp now owns 3,783 shares of the health services provider’s stock worth $1,374,000 after acquiring an additional 1,629 shares during the period. Bank of Nova Scotia raised its holdings in The Cigna Group by 63.5% in the 4th quarter. Bank of Nova Scotia now owns 101,772 shares of the health services provider’s stock valued at $30,475,000 after acquiring an additional 39,530 shares in the last quarter. Finally, ORG Partners LLC acquired a new position in The Cigna Group in the 2nd quarter valued at $489,000. 86.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction that occurred on Monday, August 19th. The stock was 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 of the company’s stock, valued at $6,010,264.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $6,010,264.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian C. Evanko sold 4,795 shares of The Cigna Group stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the transaction, the insider now directly owns 39,923 shares in the company, valued at approximately $13,773,834.23. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Stephens restated an “overweight” rating and issued a $410.00 target price on shares of The Cigna Group in a research report on Friday, August 2nd. Robert W. Baird initiated coverage on 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. Barclays lifted their price target on The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Royal Bank of Canada restated an “outperform” rating and set a $384.00 price objective on shares of The Cigna Group in a research report on Monday, September 9th. Finally, JPMorgan Chase & Co. boosted their target price on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. 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 data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $392.79.

The Cigna Group Stock Down 0.3 %

The Cigna Group stock opened at $356.14 on Friday. The company has a market capitalization of $101.17 billion, a PE ratio of 29.24, a PEG ratio of 1.09 and a beta of 0.50. The Cigna Group has a 12-month low of $253.95 and a 12-month high of $370.83. The firm’s fifty day moving average is $347.02 and its 200 day moving average is $344.97. 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 Cigna Group (NYSE:CI) last issued its earnings results on Thursday, August 1st. The health services provider reported $6.72 EPS for the quarter, beating analysts’ consensus estimates of $6.42 by $0.30. The business had revenue of $60.52 billion during the quarter, compared to analyst estimates of $58.30 billion. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The firm’s revenue was up 24.6% compared to the same quarter last year. During the same period in the previous year, the company posted $6.13 EPS. As a group, sell-side analysts predict that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th were given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.57%. The ex-dividend date was Wednesday, September 4th. The Cigna Group’s payout ratio is presently 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.