Legacy Financial Advisors Inc. Purchases 200 Shares of The Cigna Group (NYSE:CI)

Legacy Financial Advisors Inc. boosted its position in shares of The Cigna Group (NYSE:CI) by 16.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,428 shares of the health services provider’s stock after buying an additional 200 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in The Cigna Group were worth $472,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of The Cigna Group by 8.1% during the first quarter. Vanguard Group Inc. now owns 26,793,138 shares of the health services provider’s stock valued at $9,731,000,000 after buying an additional 2,017,333 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in The Cigna Group by 6.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,341,233 shares of the health services provider’s stock valued at $5,208,593,000 after acquiring an additional 867,180 shares in the last quarter. Sanders Capital LLC increased its position in The Cigna Group by 1.3% during the 4th quarter. Sanders Capital LLC now owns 7,727,729 shares of the health services provider’s stock valued at $2,314,068,000 after purchasing an additional 97,277 shares during the period. Parnassus Investments LLC raised its holdings in The Cigna Group by 5.0% in the 4th quarter. Parnassus Investments LLC now owns 2,682,061 shares of the health services provider’s stock worth $803,143,000 after purchasing an additional 126,598 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of The Cigna Group by 6.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,628,807 shares of the health services provider’s stock worth $869,078,000 after purchasing an additional 150,765 shares during the period. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Trading Down 0.3 %

NYSE:CI opened at $356.14 on Friday. 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 company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.73. The company’s 50 day moving average price is $347.02 and its 200-day moving average price is $345.05. 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 posted its 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 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 company’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter last year, the company earned $6.13 EPS. On average, equities research analysts forecast that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th were paid a $1.40 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.57%. The Cigna Group’s dividend payout ratio is presently 45.98%.

Insider Transactions at The Cigna Group

In related news, insider Brian C. Evanko sold 4,795 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $345.01, for a total value of $1,654,322.95. Following the sale, the insider now owns 39,923 shares in the company, valued at $13,773,834.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director William J. Delaney III sold 2,691 shares of the stock in a transaction that occurred 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 transaction, the director now owns 17,539 shares in the company, valued at approximately $6,010,264.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian C. Evanko sold 4,795 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the sale, the insider now owns 39,923 shares of the company’s stock, valued at $13,773,834.23. The disclosure for this sale can be found here. Company insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $384.00 price target on shares of The Cigna Group in a research note on Monday, September 9th. Stephens restated an “overweight” rating and issued a $410.00 target price on shares of The Cigna Group in a research note on Friday, August 2nd. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Piper Sandler began coverage on The Cigna Group in a research report on Wednesday, June 26th. They set an “overweight” rating and a $400.00 price objective for the company. Finally, Baird R W raised shares of The Cigna Group to a “strong-buy” rating in a research report on Thursday, May 30th. One investment 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $392.79.

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.