Caprock Group LLC Increases Stock Holdings in The Cigna Group (NYSE:CI)

Caprock Group LLC increased its holdings in shares of The Cigna Group (NYSE:CI) by 66.3% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 11,406 shares of the health services provider’s stock after purchasing an additional 4,547 shares during the quarter. Caprock Group LLC’s holdings in The Cigna Group were worth $3,771,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in The Cigna Group during the fourth quarter worth approximately $1,006,348,000. Vanguard Group Inc. increased its holdings in shares of The Cigna Group by 8.1% during the 1st quarter. Vanguard Group Inc. now owns 26,793,138 shares of the health services provider’s stock worth $9,731,000,000 after buying an additional 2,017,333 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of The Cigna Group by 6.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,341,233 shares of the health services provider’s stock worth $5,208,593,000 after buying an additional 867,180 shares during the last quarter. Focused Investors Fund L P purchased a new position in shares of The Cigna Group in the 1st quarter worth $205,529,000. Finally, Swedbank AB purchased a new stake in The Cigna Group during the first quarter valued at about $161,300,000. 86.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CI shares. Barclays raised their price objective on The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Piper Sandler began coverage on shares of The Cigna Group in a research report on Wednesday, June 26th. They set an “overweight” rating and a $400.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a research report on Monday, August 19th. Robert W. Baird initiated coverage on shares of The Cigna Group in a report on Thursday, May 30th. They set an “outperform” rating and a $388.00 target price on the stock. Finally, Stephens reiterated an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, The Cigna Group presently has an average rating of “Buy” and an average price target of $384.86.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, Director Elder Granger sold 547 shares of The Cigna Group stock in a transaction on Monday, June 17th. The shares were sold at an average price of $331.38, for a total value of $181,264.86. Following the completion of the transaction, the director now owns 5,471 shares of the company’s stock, valued at $1,812,979.98. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Elder Granger sold 547 shares of the company’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $331.38, for a total transaction of $181,264.86. Following the completion of the transaction, the director now directly owns 5,471 shares in the company, valued at approximately $1,812,979.98. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Brian C. Evanko sold 4,795 shares of the company’s 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 transaction, the insider now owns 39,923 shares of the company’s stock, valued at approximately $13,773,834.23. The disclosure for this sale can be found here. Insiders have sold 9,033 shares of company stock worth $3,095,820 over the last quarter. 0.60% of the stock is owned by corporate insiders.

The Cigna Group Trading Down 0.5 %

NYSE:CI opened at $353.49 on Friday. The Cigna Group has a one year low of $253.95 and a one year high of $370.64. The business’s 50-day simple moving average is $340.62 and its 200 day simple moving average is $343.61. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market cap of $100.42 billion, a price-to-earnings ratio of 29.02, a price-to-earnings-growth ratio of 1.10 and a beta of 0.50.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share 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 the consensus estimate of $58.30 billion. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The business’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 earnings per share. As a group, sell-side analysts predict that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Wednesday, September 4th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Wednesday, September 4th. The Cigna Group’s dividend payout ratio is currently 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.