Moors & Cabot Inc. Acquires 73 Shares of The Cigna Group (NYSE:CI)

Moors & Cabot Inc. increased its holdings in The Cigna Group (NYSE:CI) by 0.7% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 9,926 shares of the health services provider’s stock after purchasing an additional 73 shares during the quarter. Moors & Cabot Inc.’s holdings in The Cigna Group were worth $3,281,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Lmcg Investments LLC raised its position in shares of The Cigna Group by 4.0% in the 2nd quarter. Lmcg Investments LLC now owns 20,159 shares of the health services provider’s stock worth $6,664,000 after acquiring an additional 768 shares in the last quarter. Renaissance Technologies LLC grew its stake in The Cigna Group by 425.9% in the second quarter. Renaissance Technologies LLC now owns 169,659 shares of the health services provider’s stock valued at $56,084,000 after purchasing an additional 137,400 shares during the last quarter. Citizens Financial Group Inc. RI raised its holdings in The Cigna Group by 9.4% in the second quarter. Citizens Financial Group Inc. RI now owns 8,649 shares of the health services provider’s stock worth $2,859,000 after purchasing an additional 743 shares in the last quarter. One Capital Management LLC lifted its position in shares of The Cigna Group by 7.3% during the second quarter. One Capital Management LLC now owns 35,773 shares of the health services provider’s stock valued at $11,825,000 after buying an additional 2,435 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of The Cigna Group by 6.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,628,807 shares of the health services provider’s stock valued at $869,078,000 after buying an additional 150,765 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Insider Activity at The Cigna Group

In other The Cigna Group news, insider Brian C. Evanko sold 4,795 shares of the stock in a transaction that occurred 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 in the company, valued at $13,773,834.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director William J. Delaney III sold 2,691 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $342.68, for a total transaction of $922,151.88. Following the completion of the sale, the director now owns 17,539 shares of the company’s stock, valued at $6,010,264.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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. 0.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on CI shares. Baird R W raised shares of The Cigna Group to a “strong-buy” rating in a research report on Thursday, May 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $384.00 price objective on shares of The Cigna Group in a report on Monday, September 9th. JPMorgan Chase & Co. boosted their target price on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Piper Sandler assumed coverage on The Cigna Group in a research note on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 price target for the company. Finally, Barclays boosted their price target on The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, The Cigna Group presently has a consensus rating of “Buy” and an average target price of $387.00.

The Cigna Group Trading Up 0.6 %

Shares of NYSE:CI opened at $367.07 on Tuesday. 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 12-month low of $253.95 and a 12-month high of $370.83. The business has a 50 day moving average of $345.05 and a two-hundred day moving average of $344.51. The company has a market capitalization of $104.28 billion, a PE ratio of 30.14, a PEG ratio of 1.09 and a beta of 0.50.

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

The Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend is Wednesday, September 4th. The Cigna Group’s dividend payout ratio (DPR) is presently 45.98%.

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.