Rise Advisors LLC Purchases Shares of 164 The Cigna Group (NYSE:CI)

Rise Advisors LLC acquired a new position in The Cigna Group (NYSE:CI) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 164 shares of the health services provider’s stock, valued at approximately $59,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Kestra Advisory Services LLC increased its stake in The Cigna Group by 3.4% in the 3rd quarter. Kestra Advisory Services LLC now owns 16,578 shares of the health services provider’s stock worth $4,742,000 after purchasing an additional 544 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in shares of The Cigna Group in the third quarter worth approximately $6,132,000. Envestnet Asset Management Inc. raised its holdings in shares of The Cigna Group by 24.9% during the third quarter. Envestnet Asset Management Inc. now owns 309,511 shares of the health services provider’s stock valued at $88,542,000 after acquiring an additional 61,801 shares during the period. Mirabella Financial Services LLP purchased a new stake in shares of The Cigna Group in the 3rd quarter valued at approximately $249,000. Finally, Glenview Trust co boosted its stake in The Cigna Group by 7.0% in the 3rd quarter. Glenview Trust co now owns 16,460 shares of the health services provider’s stock worth $4,709,000 after purchasing an additional 1,074 shares during the period. 86.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Cantor Fitzgerald restated an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a report on Wednesday, June 12th. Barclays initiated coverage on The Cigna Group in a research note on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on The Cigna Group from $432.00 to $435.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. StockNews.com downgraded The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 12th. Finally, Oppenheimer raised their price target on shares of The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $373.87.

The Cigna Group Stock Down 0.1 %

NYSE:CI traded down $0.34 during trading hours on Thursday, reaching $334.46. The company’s stock had a trading volume of 53,899 shares, compared to its average volume of 1,589,352. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.71 and a quick ratio of 0.71. The company has a market cap of $95.01 billion, a price-to-earnings ratio of 27.49, a price-to-earnings-growth ratio of 1.02 and a beta of 0.53. The Cigna Group has a one year low of $253.95 and a one year high of $365.71. The business’s 50-day moving average is $342.90 and its 200-day moving average is $329.88.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, beating analysts’ consensus estimates of $6.17 by $0.30. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The business had revenue of $57.25 billion for the quarter, compared to analyst estimates of $56.59 billion. During the same quarter in the prior year, the firm posted $5.41 EPS. The firm’s revenue for the quarter was up 23.2% on a year-over-year basis. Equities research analysts predict that The Cigna Group will post 28.47 EPS for the current year.

The Cigna Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend is Tuesday, June 4th. The Cigna Group’s payout ratio is 45.98%.

Insider Buying and Selling

In other The Cigna Group news, CEO David Cordani sold 31,209 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $355.17, for a total transaction of $11,084,500.53. Following the completion of the sale, the chief executive officer now directly owns 348,054 shares in the company, valued at $123,618,339.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Elder Granger sold 1,000 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $338.08, for a total transaction of $338,080.00. Following the completion of the transaction, the director now directly owns 5,471 shares in the company, valued at approximately $1,849,635.68. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO David Cordani sold 31,209 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $355.17, for a total transaction of $11,084,500.53. Following the completion of the sale, the chief executive officer now owns 348,054 shares in the company, valued at $123,618,339.18. The disclosure for this sale can be found here. In the last three months, insiders sold 55,740 shares of company stock valued at $19,656,591. Company insiders own 0.60% of the company’s stock.

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.