Miracle Mile Advisors LLC Grows Position in The Cigna Group (NYSE:CI)

Miracle Mile Advisors LLC grew its stake in The Cigna Group (NYSE:CI) by 0.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,832 shares of the health services provider’s stock after acquiring an additional 151 shares during the quarter. Miracle Mile Advisors LLC’s holdings in The Cigna Group were worth $5,538,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Sivia Capital Partners LLC boosted its holdings in shares of The Cigna Group by 40.1% during the first quarter. Sivia Capital Partners LLC now owns 1,051 shares of the health services provider’s stock worth $346,000 after purchasing an additional 301 shares during the last quarter. Gateway Investment Advisers LLC lifted its stake in shares of The Cigna Group by 1.8% in the 1st quarter. Gateway Investment Advisers LLC now owns 20,140 shares of the health services provider’s stock valued at $6,626,000 after purchasing an additional 360 shares in the last quarter. Verum Partners LLC grew its holdings in shares of The Cigna Group by 10.4% during the 1st quarter. Verum Partners LLC now owns 841 shares of the health services provider’s stock worth $277,000 after purchasing an additional 79 shares during the period. Procyon Advisors LLC acquired a new stake in The Cigna Group during the 1st quarter worth approximately $1,131,000. Finally, AGH Wealth Advisors LLC acquired a new stake in The Cigna Group during the 1st quarter worth approximately $213,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Insider Buying and Selling

In other The Cigna Group news, Director Elder Granger sold 2,376 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $310.35, for a total transaction of $737,391.60. Following the completion of the transaction, the director now directly owns 5,471 shares of the company’s stock, valued at approximately $1,697,924.85. This trade represents a 30.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.70% of the company’s stock.

The Cigna Group Stock Performance

Shares of CI opened at $311.68 on Monday. The stock has a market capitalization of $83.26 billion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 0.98 and a beta of 0.44. The business’s fifty day moving average price is $323.39 and its 200 day moving average price is $308.90. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share for the quarter, topping analysts’ consensus estimates of $6.35 by $0.39. The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. The business had revenue of $65.45 billion for the quarter, compared to analysts’ expectations of $60.39 billion. During the same period in the prior year, the firm earned $6.47 EPS. The business’s quarterly revenue was up 14.4% on a year-over-year basis. Equities research analysts forecast that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend is Tuesday, June 3rd. The Cigna Group’s dividend payout ratio is currently 33.44%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CI. Truist Financial upped their price target on shares of The Cigna Group from $385.00 to $405.00 and gave the stock a “buy” rating in a research report on Monday, May 12th. Cowen reaffirmed a “buy” rating on shares of The Cigna Group in a research report on Monday, May 5th. Morgan Stanley raised their target price on The Cigna Group from $379.00 to $390.00 and gave the company an “overweight” rating in a report on Monday, May 5th. Wall Street Zen raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 8th. Finally, Barclays reaffirmed an “overweight” rating and issued a $385.00 price objective (up previously from $382.00) on shares of The Cigna Group in a research report on Monday, June 2nd. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, The Cigna Group presently has a consensus rating of “Buy” and a consensus target price of $380.39.

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.