Oak Associates Ltd. OH Acquires 150 Shares of The Cigna Group (NYSE:CI)

Oak Associates Ltd. OH increased its holdings in The Cigna Group (NYSE:CI) by 0.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,951 shares of the health services provider’s stock after purchasing an additional 150 shares during the period. The Cigna Group accounts for 1.0% of Oak Associates Ltd. OH’s holdings, making the stock its 26th biggest holding. Oak Associates Ltd. OH’s holdings in The Cigna Group were worth $14,860,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CI. Williams Financial LLC purchased a new position in shares of The Cigna Group in the second quarter worth $732,000. Lyell Wealth Management LP lifted its stake in The Cigna Group by 0.6% in the 2nd quarter. Lyell Wealth Management LP now owns 10,022 shares of the health services provider’s stock worth $3,313,000 after purchasing an additional 55 shares in the last quarter. Prosperity Consulting Group LLC bought a new position in shares of The Cigna Group during the 2nd quarter valued at about $206,000. Envestnet Asset Management Inc. grew its position in shares of The Cigna Group by 3.4% during the second quarter. Envestnet Asset Management Inc. now owns 307,177 shares of the health services provider’s stock valued at $101,544,000 after purchasing an additional 10,011 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its position in shares of The Cigna Group by 15.4% during the second quarter. Oppenheimer Asset Management Inc. now owns 37,393 shares of the health services provider’s stock valued at $12,361,000 after purchasing an additional 5,004 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors.

The Cigna Group Trading Up 0.7 %

CI opened at $364.72 on Friday. The Cigna Group has a one year low of $253.95 and a one year high of $370.64. 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 $101.96 billion, a price-to-earnings ratio of 29.94, a P/E/G ratio of 1.09 and a beta of 0.50. The stock’s 50 day moving average price is $344.18 and its 200-day moving average price is $344.22.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data 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 Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The company had revenue of $60.52 billion for the quarter, compared to the consensus estimate of $58.30 billion. During the same quarter in the prior year, the company posted $6.13 EPS. The Cigna Group’s quarterly revenue was up 24.6% on a year-over-year basis. On average, equities analysts forecast that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Dividend Announcement

The business 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 dividend of $1.40 per share. The ex-dividend date is Wednesday, September 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.54%. The Cigna Group’s payout ratio is 45.98%.

Insider Buying and Selling at The Cigna Group

In other news, insider Brian C. Evanko sold 4,795 shares of The Cigna Group stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the completion of the sale, the insider now owns 39,923 shares of the company’s stock, valued at $13,773,834.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Brian C. Evanko sold 4,795 shares of the stock in a transaction on 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Elder Granger sold 547 shares of The Cigna Group stock in a transaction dated 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 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 sold a total of 8,033 shares of company stock valued at $2,757,740 in the last three months. Company insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Piper Sandler began coverage on The Cigna Group in a research note on Wednesday, June 26th. They set an “overweight” rating and a $400.00 price target for the company. Stephens reissued an “overweight” rating and issued a $410.00 target price on shares of The Cigna Group in a report on Friday, August 2nd. JPMorgan Chase & Co. upped their price target on shares of The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Barclays lifted their price objective on shares of The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, Baird R W upgraded shares of The Cigna Group to a “strong-buy” rating in a research report on Thursday, May 30th. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $387.00.

About The Cigna Group

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.