Hollencrest Capital Management Has $24.90 Million Position in The Cigna Group (NYSE:CI)

Hollencrest Capital Management lifted its position in The Cigna Group (NYSE:CI) by 0.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 71,878 shares of the health services provider’s stock after purchasing an additional 44 shares during the quarter. The Cigna Group accounts for approximately 1.0% of Hollencrest Capital Management’s holdings, making the stock its 22nd biggest holding. Hollencrest Capital Management’s holdings in The Cigna Group were worth $24,901,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Van ECK Associates Corp raised its holdings in shares of The Cigna Group by 4.4% in the second quarter. Van ECK Associates Corp now owns 14,872 shares of the health services provider’s stock valued at $4,916,000 after buying an additional 625 shares during the last quarter. Marks Group Wealth Management Inc raised its position in shares of The Cigna Group by 3,669.7% during the third quarter. Marks Group Wealth Management Inc now owns 24,013 shares of the health services provider’s stock worth $8,319,000 after acquiring an additional 23,376 shares during the last quarter. Hancock Whitney Corp lifted its stake in shares of The Cigna Group by 75.6% during the first quarter. Hancock Whitney Corp now owns 3,783 shares of the health services provider’s stock valued at $1,374,000 after acquiring an additional 1,629 shares during the period. ORG Partners LLC bought a new position in shares of The Cigna Group in the 2nd quarter valued at about $489,000. Finally, Tidal Investments LLC grew its position in shares of The Cigna Group by 36.0% during the 1st quarter. Tidal Investments LLC now owns 15,276 shares of the health services provider’s stock worth $5,548,000 after buying an additional 4,043 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

Insider Buying and Selling at The Cigna Group

In related news, Director William J. Delaney III sold 2,691 shares of The Cigna Group 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 completion of the sale, the director now directly owns 17,539 shares of the company’s stock, valued at approximately $6,010,264.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.70% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on CI shares. Piper Sandler reaffirmed an “overweight” rating and set a $394.00 target price (up previously from $392.00) on shares of The Cigna Group in a report on Tuesday. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a report on Wednesday, October 23rd. JPMorgan Chase & Co. lifted their price objective on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Royal Bank of Canada cut their target price on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Finally, StockNews.com cut shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $394.64.

The Cigna Group Stock Up 0.3 %

Shares of NYSE CI traded up $0.83 during midday trading on Friday, reaching $320.32. The company’s stock had a trading volume of 209,044 shares, compared to its average volume of 1,530,045. The stock has a 50 day simple moving average of $343.37 and a 200-day simple moving average of $340.80. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $89.10 billion, a price-to-earnings ratio of 30.26, a PEG ratio of 0.95 and a beta of 0.51. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $370.83.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.22 by $0.29. The firm had revenue of $63.70 billion for the quarter, compared to analyst estimates of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The company’s revenue was up 29.8% compared to the same quarter last year. During the same period in the previous year, the business earned $6.77 EPS. Equities research 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 announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s dividend payout ratio is presently 52.83%.

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.