TFB Advisors LLC Buys New Shares in The Cigna Group (NYSE:CI)

TFB Advisors LLC bought a new stake in shares of The Cigna Group (NYSE:CIFree Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 932 shares of the health services provider’s stock, valued at approximately $333,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Silicon Valley Capital Partners increased its holdings in shares of The Cigna Group by 100.0% in the first 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. Fortitude Family Office LLC bought a new stake in shares of The Cigna Group in the fourth quarter worth about $29,000. VisionPoint Advisory Group LLC increased its holdings in shares of The Cigna Group by 112.2% in the third quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock worth $30,000 after purchasing an additional 55 shares during the last quarter. Raleigh Capital Management Inc. increased its holdings in shares of The Cigna Group by 69.5% in the fourth 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. Finally, Pineridge Advisors LLC bought a new stake in shares of The Cigna Group in the fourth quarter worth about $37,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CI. StockNews.com cut The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 12th. Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a research note on Wednesday. Piper Sandler started coverage on The Cigna Group in a research note on Wednesday, June 26th. They set an “overweight” rating and a $400.00 price objective on the stock. Oppenheimer boosted their target price on The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Finally, JPMorgan Chase & Co. boosted their target price on The Cigna Group from $432.00 to $435.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $376.20.

Check Out Our Latest Stock Analysis on CI

Insiders Place Their Bets

In other The Cigna Group news, insider Brian C. Evanko sold 4,795 shares of the stock in a transaction dated 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 sale, the insider now directly owns 39,923 shares of the company’s stock, valued at approximately $13,773,834.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Elder Granger sold 1,000 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $338.08, for a total transaction of $338,080.00. Following the sale, the director now directly owns 5,471 shares of the company’s stock, valued at approximately $1,849,635.68. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Brian C. Evanko sold 4,795 shares of the stock in a transaction dated 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 sale, the insider now directly owns 39,923 shares in the company, valued at $13,773,834.23. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,988 shares of company stock valued at $7,975,726. Company insiders own 0.70% of the company’s stock.

The Cigna Group Stock Performance

Shares of NYSE CI traded up $1.46 during mid-day trading on Wednesday, hitting $329.83. The stock had a trading volume of 1,981,980 shares, compared to its average volume of 1,613,051. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.71 and a current ratio of 0.71. The company has a 50 day moving average of $337.09 and a two-hundred day moving average of $334.86. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $365.71. The firm has a market cap of $93.69 billion, a PE ratio of 27.04, a PEG ratio of 0.99 and a beta of 0.52.

The Cigna Group (NYSE:CIGet Free Report) last released its earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.17 by $0.30. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The firm had revenue of $57.25 billion for the quarter, compared to the consensus estimate of $56.59 billion. During the same period in the prior year, the firm earned $5.41 EPS. The firm’s revenue was up 23.2% on a year-over-year basis. Research analysts predict that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th were given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.70%. The ex-dividend date was Tuesday, June 4th. The Cigna Group’s dividend payout ratio is currently 45.98%.

The Cigna Group Profile

(Free Report)

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.

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Institutional Ownership by Quarter for The Cigna Group (NYSE:CI)

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