The Cigna Group (NYSE:CI) Shares Bought by NewEdge Advisors LLC

NewEdge Advisors LLC grew its holdings in The Cigna Group (NYSE:CI) by 36.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,522 shares of the health services provider’s stock after purchasing an additional 5,224 shares during the quarter. NewEdge Advisors LLC’s holdings in The Cigna Group were worth $6,453,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Silicon Valley Capital Partners raised its holdings in The Cigna Group by 100.0% in the first quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock valued at $25,000 after acquiring an additional 35 shares in the last quarter. Cedar Wealth Management LLC purchased a new stake in shares of The Cigna Group during the 1st quarter worth $29,000. Raleigh Capital Management Inc. grew its stake in shares of The Cigna Group by 69.5% during the fourth quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock worth $30,000 after purchasing an additional 41 shares in the last quarter. TruNorth Capital Management LLC acquired a new stake in The Cigna Group in the second quarter valued at $33,000. Finally, Pineridge Advisors LLC purchased a new stake in The Cigna Group during the 4th quarter worth about $37,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Insider Transactions at The Cigna Group

In other The Cigna Group 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 shares were 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 $6,010,264.52. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Jefferies Financial Group lifted their price target on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. 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. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Barclays increased their price objective on The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $384.00 price objective on shares of The Cigna Group in a research report on Monday, September 9th. One 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 company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $392.79.

The Cigna Group Stock Performance

NYSE:CI opened at $348.10 on Wednesday. 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 firm has a 50-day moving average price of $348.62 and a two-hundred day moving average price of $345.25. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $370.83. The company has a market capitalization of $98.89 billion, a P/E ratio of 28.58, a price-to-earnings-growth ratio of 1.08 and a beta of 0.50.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $60.52 billion for the quarter, compared to analyst estimates of $58.30 billion. During the same period in the prior year, the firm earned $6.13 EPS. The firm’s quarterly revenue was up 24.6% on a year-over-year basis. As a group, research analysts expect that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, September 4th were paid a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $5.60 annualized dividend and a yield of 1.61%. The Cigna Group’s 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.