BluePath Capital Management LLC Boosts Stock Position in The Cigna Group (NYSE:CI)

BluePath Capital Management LLC increased its position in The Cigna Group (NYSE:CI) by 32.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,264 shares of the health services provider’s stock after acquiring an additional 307 shares during the quarter. BluePath Capital Management LLC’s holdings in The Cigna Group were worth $459,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CI. Capital Asset Advisory Services LLC increased its position in shares of The Cigna Group by 2.3% during the first quarter. Capital Asset Advisory Services LLC now owns 1,280 shares of the health services provider’s stock worth $464,000 after acquiring an additional 29 shares during the period. Capital Advisors Ltd. LLC raised its position in The Cigna Group by 10.6% during the 1st quarter. Capital Advisors Ltd. LLC now owns 335 shares of the health services provider’s stock valued at $122,000 after purchasing an additional 32 shares in the last quarter. First Financial Corp IN lifted its holdings in shares of The Cigna Group by 17.2% in the 1st quarter. First Financial Corp IN now owns 225 shares of the health services provider’s stock worth $82,000 after buying an additional 33 shares during the period. Somerset Trust Co grew its position in shares of The Cigna Group by 1.6% during the 1st quarter. Somerset Trust Co now owns 2,209 shares of the health services provider’s stock worth $802,000 after buying an additional 34 shares in the last quarter. Finally, Relyea Zuckerberg Hanson LLC increased its stake in shares of The Cigna Group by 3.2% during the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 1,113 shares of the health services provider’s stock valued at $333,000 after buying an additional 35 shares during the period. Institutional investors own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CI. Robert W. Baird started coverage on shares of The Cigna Group in a report on Thursday, May 30th. They set an “outperform” rating and a $388.00 target price on the stock. Piper Sandler started coverage on The Cigna Group in a research report on Wednesday, June 26th. They set an “overweight” rating and a $400.00 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a research report on Wednesday, June 12th. Oppenheimer raised their price objective on The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Finally, Barclays started coverage on shares of The Cigna Group in a research report on Wednesday, March 6th. They set an “overweight” rating and a $393.00 price target for the company. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $376.20.

The Cigna Group Stock Performance

NYSE CI traded down $0.84 during trading hours on Wednesday, reaching $325.07. The stock had a trading volume of 900,737 shares, compared to its average volume of 1,610,890. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $365.71. The stock has a fifty day moving average of $340.15 and a 200 day moving average of $333.85. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market cap of $92.34 billion, a P/E ratio of 26.50, a price-to-earnings-growth ratio of 1.01 and a beta of 0.52.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, beating the consensus estimate of $6.17 by $0.30. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The business had revenue of $57.25 billion for the quarter, compared to the consensus estimate of $56.59 billion. During the same period in the prior year, the firm earned $5.41 EPS. The business’s revenue for the quarter was up 23.2% on a year-over-year basis. Sell-side analysts predict that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Tuesday, June 4th were issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.72%. The ex-dividend date was Tuesday, June 4th. The Cigna Group’s dividend payout ratio (DPR) is 45.98%.

Insider Activity at The Cigna Group

In related news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $348.71, for a total value of $2,073,429.66. Following the completion of the transaction, the senior vice president now directly owns 2,595 shares in the company, valued at approximately $904,902.45. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $348.71, for a total value of $2,073,429.66. Following the completion of the transaction, the senior vice president now owns 2,595 shares of the company’s stock, valued at approximately $904,902.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Elder Granger sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $338.08, for a total value of $338,080.00. Following the completion of the sale, the director now directly owns 5,471 shares in the company, valued at $1,849,635.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,988 shares of company stock worth $7,975,726. 0.70% of the stock is owned by corporate insiders.

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.