Delphi Management Inc. MA Takes Position in The Cigna Group (NYSE:CI)

Delphi Management Inc. MA bought a new stake in shares of The Cigna Group (NYSE:CI) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,753 shares of the health services provider’s stock, valued at approximately $1,571,000.

Other hedge funds have also recently modified their holdings of the company. Silicon Valley Capital Partners raised its position in shares of The Cigna Group by 100.0% in the 1st quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock worth $25,000 after purchasing an additional 35 shares during the last quarter. Cedar Wealth Management LLC purchased a new position in shares of The Cigna Group in the 1st quarter worth about $29,000. Raleigh Capital Management Inc. raised its position in shares of The Cigna Group by 69.5% in the 4th quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock worth $30,000 after purchasing an additional 41 shares during the last quarter. TruNorth Capital Management LLC purchased a new position in shares of The Cigna Group in the 2nd quarter worth about $33,000. Finally, Pineridge Advisors LLC purchased a new position in shares of The Cigna Group in the 4th quarter worth about $37,000. Institutional investors own 86.99% of the company’s stock.

Insider Activity at The Cigna Group

In related news, Director William J. Delaney III sold 2,691 shares of the stock in a transaction 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 sale, the director now owns 17,539 shares in the company, valued at approximately $6,010,264.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CI has been the subject of a number of recent analyst reports. Stephens reissued an “overweight” rating and issued a $410.00 target price on shares of The Cigna Group in a research report on Friday, August 2nd. Piper Sandler initiated coverage on The Cigna Group in a research report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 target price for the company. Jefferies Financial Group boosted their target price on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Royal Bank of Canada reissued an “outperform” rating and issued a $384.00 target price on shares of The Cigna Group in a research report on Monday, September 9th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a research report on Monday, September 16th. One 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $392.79.

The Cigna Group Trading Down 0.4 %

CI stock opened at $346.44 on Tuesday. The Cigna Group has a 1-year low of $253.95 and a 1-year high of $370.83. 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 company has a market capitalization of $98.41 billion, a price-to-earnings ratio of 28.44, a PEG ratio of 1.08 and a beta of 0.50. The business has a 50 day simple moving average of $348.38 and a two-hundred day simple moving average of $345.28.

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 the consensus estimate of $6.42 by $0.30. The business 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 firm’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period in the prior year, the company posted $6.13 EPS. Research analysts anticipate that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The company 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. The ex-dividend date 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 is currently 45.98%.

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.