Westover Capital Advisors LLC Grows Stock Position in The Cigna Group (NYSE:CI)

Westover Capital Advisors LLC grew its holdings in The Cigna Group (NYSE:CI) by 11.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,568 shares of the health services provider’s stock after purchasing an additional 476 shares during the quarter. Westover Capital Advisors LLC’s holdings in The Cigna Group were worth $1,510,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CI. Gryphon Financial Partners LLC purchased a new stake in The Cigna Group in the 4th quarter valued at approximately $230,000. NBC Securities Inc. raised its holdings in The Cigna Group by 26.2% in the 4th quarter. NBC Securities Inc. now owns 347 shares of the health services provider’s stock valued at $103,000 after acquiring an additional 72 shares during the last quarter. Avantax Advisory Services Inc. raised its holdings in The Cigna Group by 11.4% in the 4th quarter. Avantax Advisory Services Inc. now owns 3,328 shares of the health services provider’s stock valued at $997,000 after acquiring an additional 340 shares during the last quarter. Foundations Investment Advisors LLC increased its holdings in shares of The Cigna Group by 6.9% during the 4th quarter. Foundations Investment Advisors LLC now owns 841 shares of the health services provider’s stock worth $258,000 after buying an additional 54 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its holdings in shares of The Cigna Group by 3.7% during the 4th quarter. Quadrant Capital Group LLC now owns 2,514 shares of the health services provider’s stock worth $753,000 after buying an additional 89 shares during the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Price Performance

Shares of CI opened at $364.72 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $370.64. The stock has a market cap of $101.96 billion, a P/E ratio of 29.94, a price-to-earnings-growth ratio of 1.09 and a beta of 0.50. The stock’s 50-day moving average price is $344.18 and its two-hundred day moving average price is $344.20.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, August 1st. The health services provider reported $6.72 EPS for the quarter, beating the consensus estimate of $6.42 by $0.30. The firm had revenue of $60.52 billion for the quarter, compared to analysts’ expectations of $58.30 billion. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The business’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.13 EPS. On average, equities analysts predict that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Wednesday, September 4th will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend is Wednesday, September 4th. The Cigna Group’s dividend payout ratio (DPR) is 45.98%.

Insiders Place Their Bets

In related news, Director William J. Delaney III sold 2,691 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 17,539 shares of the company’s stock, valued at approximately $6,010,264.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director William J. Delaney III sold 2,691 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $342.68, for a total value of $922,151.88. Following the completion of the sale, the director now directly owns 17,539 shares in the company, valued at approximately $6,010,264.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Elder Granger sold 547 shares of the company’s 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 sale, the director now owns 5,471 shares of the company’s stock, valued at $1,812,979.98. The disclosure for this sale can be found here. Insiders have sold 8,033 shares of company stock valued at $2,757,740 in the last 90 days. 0.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CI shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a report on Tuesday. Baird R W raised shares of The Cigna Group to a “strong-buy” rating in a research report on Thursday, May 30th. JPMorgan Chase & Co. upped their price objective on shares of The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Barclays increased their price target on shares of The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, 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. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $387.00.

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.